Insurers Big and Small Adopting Drone Tech Rapidly Across Insurance Life Cycle

16% of Property/Casualty carriers plan to be—or are—actively piloting drone initiatives, 15% have already launched one, and 43% intend to in near future: Novarica

Boston, MA (Aug. 15, 2018) – Together with machine learning and AI capabilities, aerial imagery and drone technology are enabling adopters to amass and process greater quantities of data than ever before, which can be transmitted to analytics platforms in real time to yield insights. Moreover, primarily used by P/C insurers to adjust claims or conduct property inspections, the proliferation of big data and third-party partnerships have made implementation cost-effective for insurers of all sizes.

In a new brief, Aerial Imagery in Insurance: Overview and Prominent Providers, research and advisory firm Novarica discusses current insurance use cases for drones, regulation impacting this technology, and over 15 drone solution providers.

“Unlike machine learning and artificial intelligence initiatives, drones can be implemented in cost-effective ways by insurers of all sizes,” said Martina Conlon, Senior Vice President of Research and Consulting, and co-author of Novarica’s new report. “While not all carriers have the in-house resources or budget to analyze data collected by drones or telematics sensors, they have the option to partner with third parties. These third-party companies can serve a variety of roles, whether they provide drones, analyze the data collected by drones and generate scores via predictive models, or all of the above.”

A preview of the brief is available online.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.

Source: Novarica

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