Drone Podcast: Ian Smith Speaks with Dr. Ernest Earon from REIN about “Insurtech” and DroneInsurance.com

Ian Smith of Commercial Drones FM speaks with Dr. Ernest Earon about REIN and their first product DroneInsurance , a great example of  how technology and AI are used to better serve insurance needs in the drone marketplace.  In this roughly 28 minute podcast,  Ian speaks to drone veteran Dr. Ernest Earon, EVP of Artificial Intelligence of REIN.  (REIN is a sponsor of DRONELIFE: however, this article is not sponsored content.)

Dr. Earon was able to build upon a background working the field of space exploration where he worked to pioneer to use of AI for planetary exploration.  He then was able to leverage this idea to the use of Drones and was a co-founder of PercisionHawk: most recently, he has brought this idea to REIN and their drone insurance product DroneInsurance.

AI can be used to “get access to the insights in larger amounts of data”.  Smith and Earon note that new technologies such as drones do not have huge amounts of legacy data that help to support the coverage: in traditional insurance offerings such as car insurance, insurers know that a new driver with a red sports car is more likely to get into an accident than other drivers.   That data, collected over a very long period of time just does not exist for the drone industry.

As the platform that they have built at REIN is both flexible and robust,  Dr. Earon’s makes note that the platform is “market agnostic”, and can be brought to variety of different application and is not limited to drones.  As an example of this type if integration, in this case with drones,  Ian describes how DroneInsurance can be integrated into the DroneDeploy mapping platform as an insurance layer as the applications get more robust and full featured.