PROPERTY INSURANCE INSPECTIONS
Insurance companies are currently in the midst of a two-front war against increasingly costly claims and pervasive insurance fraud. But drone-powered surveying is proving to be one of the most powerful new tools being embraced by insurance companies. According to PricewaterhouseCoopers’ 2016 report Clarity From Above, the insurance industry looks to save up to $6.8 billion per year by utilizing drone technology, and the FAA has predicted that the insurance industry will be one of the five markets with the highest demand for drone-based services.
West Coast Drones can help you more accurately calculate insurance premiums, reduce insurance payouts, and stop fraudulent claims with our suite of drone services.
HOW DRONE INSPECTIONS CAN HELP YOU
Utilize drone inspections to determine property conditions and values, estimate risk, accurately calculate policy premiums, and reduce fraudulent claims.
In the past, insurance companies often used on-the-ground teams to survey properties and take necessary measurements in order to identify risk factors and calculate premiums. This approach was time-consuming and costly, especially with historical buildings, tall towers, and complex structures.
West Coast Drones can generate more data, more accurately, at a lower cost. Our drones are equipped with high definition cameras, sophisticated sensors, and software. This allows us to generate the photographic maps, 3D models, topographical maps, and detailed measurements you need to accurately assess property conditions and calculate premiums.
This data can be particularly useful in preventing fraudulent claims, which account for approximately 10% of all property and casualty insurance payouts. By inspecting properties prior to insuring them, you can identify damage that existed prior to the claim, and deny false claims made for this damage after the fact.
Drone imagery makes it far easier to assess property damage and identify instances of insurance fraud.
We can inspect damage to commercial buildings, churches, warehouses, factories, buildings of historic interest, and other challenging environments without risk to properties or personnel.
Evaluating property damage in order to calculate payouts can be very challenging, especially with larger structures that pose safety issues. Our drones can perform a complete site evaluation in an hour or two, far faster than an on-the-ground team, and with no risk of harm to anyone involved.
Drone inspections are particularly useful for evaluating areas difficult to navigate or access, such as property damaged by natural disasters, as well as structures on challenging terrain.
Drone surveys allow insurers can more accurately assess the risk of natural disasters.
With its many waterways, violent tectonic shifts, and annual fire seasons, Central California’s residents are exposed to a variety of natural threats:
- Sacramento, located at the confluence of the Sacramento and American Rivers, is considered by many experts to be the most flood-vulnerable city in the country.
- California wildfires are becoming more frequent and severe, and this trend will likely continue for the foreseeable future.
- In 2017, the USGS released a study showing that most of California is at risk of experiencing a damaging earthquake, with the area between Monterey Bay and the I-5 corridor being one of two areas in the entire U.S. at the highest threat level. It is also the largest geographic area in the U.S. with the potential for earthquakes of VIII intensity or higher on the Modified Mercalli Intensity Scale.
Ensuring the profitability of your insurance company is a delicate balance between setting policy rates that are attractive to consumers, while reflecting the likelihood of claims due to natural disasters such as those above.
West Coast Drones can use wide-ranging drone surveys to provide you with the high definition photographs, topographical maps, and 3D models you need to make accurate risk assessments for specific geographic areas.
We can provide you with imagery and data in the formats you need to easily and effectively combine it with traditional sources of historical and statistical data, allowing you to improve the accuracy of your catastrophe models and more effectively calculate homeowners and property insurance premiums.