Amongst owners surveyed by the Insurance coverage Analysis Council (IRC), 88 p.c acknowledge that aerial imagery is a helpful device for insurers.
Almost all respondents mentioned they acknowledge the worth of utilizing satellite tv for pc, drone, and plane photos for early downside detection, claims processing, and hazard identification earlier than pricey harm happens. Most additionally mentioned they imagine aerial imaging can result in fairer pricing.
Key findings:
- 9 out of 10 respondents mentioned they see no less than one profit from aerial imagery’s use in insurance coverage. Greater than half mentioned it results in fairer insurance coverage pricing.
- Whereas 60 p.c have some consciousness that insurers use aerial imagery, 40 p.c know little or nothing about it.
- When owners are acquainted with the usage of aerial imagery for underwriting, they’re almost twice as prone to suppose it makes insurance coverage pricing fairer.
- Householders fear extra about accuracy than privateness within the context of aerial imagery. Accuracy emerges as the highest particular person concern, with 31 p.c citing it as their largest fear, in comparison with 24 p.c who cite privateness as their main concern.
Schooling and transparency are key to acceptance of this know-how, the survey discovered. Householders who have been already acquainted with aerial imagery functions have been discovered to point out persistently increased confidence ranges, higher profit recognition, and extra optimistic sentiment throughout all insurance coverage makes use of. Youthful owners additionally demonstrated higher acceptance and better confidence within the know-how’s accuracy.
“Shoppers see worth in aerial imagery once they perceive the way it’s utilized in insurance coverage,” mentioned IRC President Pat Schmid. “Efforts to extend transparency and client data can bridge the boldness hole, enhance buyer belief, and assist owners notice the advantages of quicker claims, fairer pricing, and higher threat prevention.”
The IRC, like Triple-I, is an affiliate of The Institutes.