Lack Of Awareness About The Benefits Of Drones Technology Could Be Impacting Development Of Insurance Sector

Lack Of Awareness About The Benefits Of Drones Technology Could Be Impacting Development Of Insurance Sector

A lack of awareness or willingness to explore the benefits of drone technology in insurance could be holding back the development of the sector, according to new research.

A survey of nearly 100 insurers and brokers across the UK, conducted by Research in Insurance in Evolution of Claims conjunction with Iprosurv, found that despite drone technology being identified as one of the top five pieces of technology insurance practitioners want to see used more, the majority of the market still doesn’t employ them.

When asked what kind of technology they would like to see used more in the industry, drones proved to be the fifth most popular behind automated claims processing, claims portals, greater use of videos and cameras, and the introduction of claims apps, out of a total of 20 choices.

Despite this appetite for adoption, of those surveyed, 60% of insurers and 89% of brokers said they weren’t currently using drones.

Lack Of Awareness

Nearly a third of insurers (32%) and 28% of brokers admitted that they just don’t understand the tech with 11% of insurers and 30% of brokers saying they don’t see a need.

However, it does seem that there is an appetite to use drones within organisations with 29% of insurers and 9% of brokers blaming a lack of appetite in the organisation for their absence. This is highest (30%) among those working at a support level of the business.

However, when asked if they would use drones if they reduced the claims life cycle, not one insurer said that they wouldn’t use them with only 6% of brokers ruling the idea out.

Nearly half of insurers (46%) and 35% of brokers said they definitely would use them but again, there appears to be resistance to drones at certain levels in some organisations with 54% of respondents saying they didn’t have the influence to introduce them to their business.

Rebecca Jones CEO Iprosurv

Rebecca Jones CEO Iprosurv

“It’s remarkable that drones can be one of the most eagerly anticipated pieces of technology in insurance, yet the majority of organisations aren’t currently using them,” said Rebecca Jones, CEO and co-founder of Iprosurv, one of the UK’s leading drone services providers.

“We know from working with a growing number of insurers, brokers and loss adjusters over the last seven years that drones significantly reduce the amount of time it takes to assess a claim and do so at a fraction of the cost of traditional approaches.

“The industry is telling us that this is exactly what they want, and these services are available from a number of organisations across the country, yet the industry as a whole just doesn’t seem to be able to properly explore the opportunities presented.”

Drones played a key role in many organisations’ ability to manage claims at the height of the pandemic with loss adjusters and insurers using drones to conduct remote assessments while their people were confined to their homes.

And the benefits of that approach appear in the research with 40% of insurers and 33% of brokers reporting a positive impact of adjusters employing remote technology to manage claims.

Tech in the Pandemic

Conversely, adjusters not embracing remote technology during the pandemic appears to have had an impact on service levels with nearly half of insurers (47%) and brokers alike (49%) saying they had seen a negative impact from adjusters not being able to get out during lockdown.

“Over the last seven years, we have seen more and more insurers, adjusters and now brokers switch on to what drones can do for their businesses and their clients and it appears that these early adopters continue to enjoy a competitive advantage.

“It is clear from the research that the appetite for increased drone use is there – it’s up to us and the rest of the commercial drone sector to keep showcasing what drones can do until the majority of the market is employing them to transform the way we manage claims.”

Contact

For further information, contact martin.friel@iprosurv.com

About Iprosurv

Established in 2014, Iprosurv provides companies with the in-house capability of drone and data/media delivery services. Our CAMERA system and optimum drone operator platform provides bespoke services be that an on-demand, fully managed service to independent data/media delivery services.

Iprosurv is a pioneer in the provision of drone technology across a range of industries. Its current network of pilots, covering the entirety of the UK, use a proprietary system to record, store and deliver drone data to clients in a fast and secure way. From building surveys to flood response to assisting emergency services, Iprosurv continues to push the boundaries of how drones can be used in business.

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What next for drones and Iprosurv? Our clients will always guide us …

When we set up Iprosurv back in 2014, the number one priority was to convince the industry that drones in insurance were the future and that they had a huge role to play in claims and risk management. We believed that then just as much as we do today.

And as we come to the end of our sixth year, I find myself thinking (tentatively), that in the last year the market has finally had its eyes well and truly opened to the possibilities presented by tech and by extension, drones.

In those early days when Shane and I first set out, it was a hard slog convincing insurers and adjusters that there was a better, cheaper way for them to manage their claims using drones to conduct aerial surveys. But a brave few souls took the leap (you know who you are!) and when they did, their peers saw what was possible and more and more have turned to drones for the proven cost and time savings.

So much so, that drones are now a regular point of discussion in the claims and risk management community and they have recently become part of the general market discourse in the trade press.

We are nowhere near full adoption of unmanned aerial vehicles yet, but the momentum is there – it’s only a matter of time before every insurer and loss adjuster is using drones as standard. And I’m not shy to admit that this gives me a huge sense of satisfaction. To imagine a different way of doing things and then to see that actually take place … it’s something else.

But even though I was sure drones could make a big difference in insurance, I am still constantly surprised at the applications businesses find for them and the inspections our pilots undertake.

We always knew drones were perfect to assess the scale and impact of a major flood with their ability to get a bird’s eye view of a landscape. But we hadn’t considered that they could be used by farmers to assess crop damage by taking the colour temperature of their crops.

We hadn’t considered that a water supply firm would want to use drone mapping software to detect leaks in a water pipe rather than dig up the landscape in a time-consuming and expensive search.

We hadn’t considered that a security firm would ask us to survey the security measures at a port facility to help them identify weaknesses in that security.

And we hadn’t expected to be called in by the emergency services to provide crucial support in search and rescue operations.

But all of these instructions and more have come in this year – from statutory LOLER inspections to thermal renewables for hospital refurbishments to site surveillance in support of a criminal prosecution of fly-tippers. All of these have opened our minds to the huge array of potential applications for drone technology.

The interesting thing is, other than using different types of cameras (LIDAR, thermal, photogrammetry) and tailoring the pilot skill with the job, Iprosurv hasn’t actually moved far from our core offering – collecting, translating and delivering data to our clients in a fast, cost-effective and completely secure way.

What is different is the mindset of our clients and the profile of our new clients. It feels like we are well beyond the first hurdle of introducing drones to the commercial world and are now faced with a different challenge – managing the demand and adapting our skills to those new demands.

But the flexibility of drones actually makes that side of things quite straightforward – whatever the request, I can pretty much guarantee that we have a pilot and the equipment to meet it. Just last week we were instructed by an insurer on a business interruption claim and using our imagery and data, the insurer was able to save over £1m by instructing us for less than a thousand pounds. This case, coming in at the end of a hectic year, pretty much encapsulates what drones can do for the insurance industry.

So, where next for Iprosurv and drones after a momentously challenging and rewarding year? Based on what we expected compared to our experience today, I wouldn’t dare hazard a guess but what is certain that our ever curious and creative clients will continue to find more uses for drones and continue to surprise the Iprosurv team in the process.

Whether you are a current or a future client or just an interested observer, I hope you all manage to experience some kind of festive joy during a very different festive season and that when we all return after the break, we will see some light at the end of an often very dark tunnel.

Happy New Year everyone!

Posted in Drone Tech, General Interest, Iprosurv News, Uncategorised

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https://iprosurv.com/2020/12/17/what-next-for-drones-and-iprosurv-our-clients-will-always-guide-us/What next for drones and Iprosurv? Our clients will always guide us …