A drone combined with analytics offers insurers a way to not only inspect and investigate claims but also process them. US DataWing Aerial Analytics incorporates data and images captured by a drone using a proprietary algorithm to assist in the claims process.
The Texas-based company began offering its services to homeowners’ insurers last year. According to Steven Fargo, company president, the insurance industry has provided the most rapid growth, likely the result of the big data analytic
“What we’ve been able to develop is a system where we’ll arrive on location, we’ll take out a very low footprint drone system, very small, and in just three to five minutes we’ll fly the house,” said Fargo. “Covering a little bit of overlap with the images, but about 20 to 30 images of the house top down, maybe some angled views. Then we upload those pictures directly to the cloud.”
Once uploaded into the cloud based platform, the images are processed, automatically categorized and identified and then an analysis and algorithm are run on them.
A check can be cut and a claim can be processed in about five minutes, he said.
This is nothing short of amazing. Steven Fargo, the CEO says that it takes two to three hours on location for a conventional crew that has to climb on the roof, and that the per house cost ranges between $500 and $1,000. No figures given but it’s less, probably more accurate and customer satisfaction should be improved.
The productivity increase becomes truly significant in a situation where multiple houses have been affected. Reasonable to assume that an Aerial Analytics crew could probably do eight to ten houses in a day where a conventional crew would be busting butt to do three.
If you’re interested in this type of solution, the Vertex use case is worth looking at.