Drone Analytics Product Offers Faster Processing

 

New Drone Analytics Product Offers Faster Processing of Homeowners Claims

A drone combined with analytics offers insurers a way to not only inspect and investigate claims but also process them. US DataWing Aerial Analytics incorporates data and images captured by a drone using a proprietary algorithm – a set of procedures or steps to complete a computer process – to assist in the claims process.

The Texas-based company began offering its services to homeowners’ insurers last year. According to Steven Fargo, company president, the insurance industry has provided the most rapid growth, likely the result of the big data analytic product component.

“When we started this, we didn’t want to just provide a user with tons of gigs of information, pictures and videos,” said Fargo, who noted that too much data would be difficult for the end user to manage.

He explained the typical use by an insurer after a roof sustains hail or wind damage. Rather than sending out a company or independent adjuster to climb the roof, inspect the damage and prepare a diagram, a drone is used to capture images and data.

The reduction in such a manual, labor intensive process like visual analysis or inspection offers real value, said Fargo.

“Usually there’s some component of individuals that are out to the homeowner’s house and will put a ladder team to get up on the roof to do some type of a visual inspection,” said Fargo. “Taking pictures and looking for that damage. They’ll segment out the roof into 10 by 10 squares. Take a statistical sampling and then use that plus measurements to identify cost estimations and finalize the claim.”

Including the expert analysis of an in-house or independent adjuster, Fargo said the insurer’s inspection expense per house ranges between $500 to $1000.

“Those are rough numbers, depending on the company and where the location is, to adjust a roof. They’re usually getting them done in about two to three hours on location,” said Fargo. “In this case, now you can have multiple drones, one person with a drone over a house capturing those images, pushing them up to the cloud and providing analysis that way.”

The company’s drones don’t just capture images, Fargo said.

“What we’ve been able to develop is a system where we’ll arrive on location, we’ll take out a very low footprint drone system, very small, and in just three to five minutes we’ll fly the house,” said Fargo. “Covering a little bit of overlap with the images, but about 20 to 30 images of the house top down, maybe some angled views. Then we upload those pictures directly to the cloud.”

Source: Research – uavexpertnews – Drone Analytics Product Offers Faster Processing

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