New Jersey-based Everest Insurance is partnering with drone-analytics provider Airware to improve claims adjustments.
The agreement will allow Everest to optimize and expedite claims during hurricane season via aerial data investigation.
Airware integrates the hardware, software and cloud storage capabilities to integrate aerial data collection.
“This agreement builds upon Everest’s experience using similar tools and is one component of Everest’s rapidly evolving focus on innovation, which includes engaging with leading insurtech companies across all areas of our business to deliver impactful tools and data,” Everest Chief Underwriting Officer Mike Mulray said.
“We have worked closely with the Everest team to integrate our advanced aerial insights into their workflow, helping to create a seamless user experience internally and enabling a superior customer experience for their clients,” Airware CEO Yvonne Wassenaar said.
Airware is backed by leading venture capital investors including Andreessen Horowitz, Kleiner Perkins Caufield and Byers, and NextWorld Capital, with strategic investments from enterprise customers and partners including Caterpillar Ventures, GE Ventures, Google Ventures and Intel Capital.
In addition, the company launched the Commercial Drone Fund in 2015 – a collaboration that has invested between $250,000 and $1 million in UAV startups focused on sensor hardware, software applications, cloud–based aerial data analysis tools, drone–based services and turnkey solutions for specific industries.
Drone companies are finding new markets within the insurance adjustment world – especially in the areas of claims adjustment and inspection. Earlier this year, Loveland Innovations, a developer of drone solutions for the property and casualty insurance industry, announced the launch of Drone Assist Complete, an on-demand tool that enhances roof-claims adjustment.
In 2016, insurance giants Allstate and Travelers deployed several drones over parts of South Carolina and Georgia in the wake of Hurricane Matthew to assess damage, expediting claims for stricken policyholders more rapidly.
Allstate’s quadcopters can capture 4K-resolution images and the company says this allows adjusters to zoom in for extreme detail on any individual shingle on a roof or a crack in a building.
Travelers launched a UAV training program and deployed 60 FAA-certified adjusters to pilot drones that year alone. Allstate also tested inspection drones following a hail storm in Texas.
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