How Insurance Companies Are Taking Advantage of Drone Technology
After the devastation caused by Cyclone Vardah, plenty of residents and businesses found themselves struggling to take account of the damage they had sustained. Such situations place great stress on insurance companies, in particular, as they need to assess claims brought by numerous customers, often with damage occurring on roofs and in areas which can be difficult to access.
One particular insurer has commissioned the use of drones to carry out such work, in the hope that it will be able to speed up the inspection process and deliver improved results on those which have thus far been obtainable.
Jaspreet Makkar (pictured above) is the founder of a Delhi-based company called WeDoSky, which provides drone-based analytic solutions to such customers. Regarding the situation in Chennai, Makkar said:
We did a POC (proof of claim) for the insurance company in Chennai. The IT park had sustained a lot of damage due to the high-speed winds of the cyclone. The insurance company needed to collect the data in a quick manner because for each day that business was not happening at the IT park, the loss and claim for insurance kept increasing.
It is thought that the insurance company would need at least a week to gather the data by using manpower alone. This would also, have inevitably been somewhat hazardous. However, by making use of the technology available from WeDoSky, the company had retrieved all the data it needed to deal with the claims, within just 36 hours. Makkar went on to discuss the advantages provided by his company to the insurance industry at large:
In the insurance sector, drones can quickly scan a very large area and give pictorial evidence of damage to a site or property. More importantly, they are able to reach places where humans can’t reach due to disasters.”
WeDoSky hasn’t always applied its technology to helping insurers, however. The company has used its drones for everything from aerial photography to data analysis, in over 400 projects all across India. Here and around the world, commercial applications for drones are growing in range and number. Makkar believes that drones will become omnipresent over the next five years, across the spectrum of industry.
Drones are already being used in projects across India, ranging from the inspection of infrastructure, mining, agriculture, renewable energy and real estate. As these drones can be fitted with different types of cameras and sensors, they can provide a wide range of data, help reduce costs and reduce the risks associated with having people do the work.
Their application has not gone unnoticed at government level, either. Power Minister Piyush Goyal has posted photos online of drones being used by the Mineral Exploration Corporation in Odisha for geological surveying and exploration. Shinil shekhar, co-founder of AIRPIX, said that:
“A lot of big organizations, such as the Indian Railways, Coal India, GAIL, DMICDC and some states have already taken steps towards using drones for addressing their business needs. A lot of private companies are also considering buying drones and developing in-house resources to use them.”
(Photos by Tech In Asia)