Insurance coverage Information: Recapping Davos and utilizing drones for claims
As business leaders identify the world’s greatest risks, the insurance industry is responding with technologies like drones that can be deployed safely where claims adjusters cannot.
In this edition of our Insurance News Analysis series, Natalie de Freitas and I talk about the World Economic Forum’s annual risk report. In addition to infectious diseases and livelihood crises, extreme weather events were also cited as major concerns in the survey. No wonder, because losses from natural disasters rose by 40 percent last year compared to the average for this century.
Insurers react to increased risks with innovative solutions. Drones reduce the need for claims adjusters to operate in dangerous post-storm conditions. And AI helps to identify risk patterns for forest fires in order to prevent and reduce losses.
Market convergences are also bringing insurers into completely new areas. You won’t be satisfied with finding new ways to play in your sandpit. You see that your sandpit is changing.
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