WEAR AND TEAR
Insurtech explained
poses a problem if a hurricane has just torn through the nearest airport and the roads are flooded .
Thankfully , drones offer a world of new data collection opportunities and can gain access to areas too remote even for surveyors in helicopters .
One startup uses drones to provide live , on-demand video inspections as part of the claims-handling process . Founded in 2015 , DropIn Inc is a Los Angeles-based startup that provides an on-demand , live video platform which enables more precise underwriting risk assessments , speeds claim resolution , enhances damage estimate accuracy , and reduces indemnity and loss adjustment expenses .
WEAR AND TEAR
Data collection and analysis is at the heart of how insurtech companies understand risk and determine their clients ’ policies . As developments like 5G and the expansion of IoT devices find more and more applications in the workplace , the ability for watches , vehicles , and even clothing , to feed data into a network is redefining the way that insurtechs gather information .
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Insurtech explained
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