INSURANCE
Precisely
– Trust in Data
“ AS THE CLIMATE CRISIS WORSENS , MAJOR WEATHER RELATED EVENTS ACCOUNT FOR BILLIONS OF DOLLARS ’ WORTH OF CLAIMS EVERY YEAR ”
PATRICK MOTTRAM PRECISELY
taken by companies , and customers would greatly benefit from knowledge of potential risks ahead of time .
He uses the example of up-to-date , 3D imaging of a property where insurers could warn customers of possible risks in advance .
This , he points out , would allow the customer to avoid the risk , or at least prepare for and mitigate the damage the risk could cause .
“ I would definitely predict the growth of this preventive or predictive coverage being introduced as a service by insurers . Although it would require high investment by the insurer to avoid damages , such investment pays out in the long term as insurers eventually avoid paying out large amounts of money for losses when risks are realised .”
Robots and drone technology Aside from satellites , insurance companies are also investing in the latest robotics and drone technology to provide data that was previously unavailable . Use cases for drones particularly , expand almost daily . They are used to collect data on agriculture , buildings , property boundary inspections and reactor buildings in nuclear power stations .
48 January 2022