![]() Federal Aviation Administration (FAA) has finalized rules for certification and identification. Recently, the news has been positive for drone operators as the U.S. Georeferenced images can be sent quickly and damage assessments can be made in a very timely manner. ![]() Still, the ability to deploy with immediacy where insurance providers can selectively isolate the areas of interest provides great flexibility. Drone Imageryĭrones also provide high resolution imagery however, they have less aerial coverage because of a more limited flight line and altitude restrictions. Imagery from catastrophic events is usually available within 24 hours. GIC makes Blue Sky (archived imagery) and Gray Sky (event-driven imagery of natural disasters) available for the contiguous United States. Planet, another EO company, has increased its constellation of SkySat satellites such that repeated visits to the same geographic location is now between 5 and 10 times each day and has 50-centimeter resolution.ĭigital aerial imagery, captured by fixed-wing aircraft, at high resolution (approximately 20-centimeter ortho 5-7-centimeter oblique) is available from the Geospatial Insurance Consortium (GIC), a member-based organization of insurance companies. Today, satellite imagery from Earth observation (EO) company, Maxar, provides high resolution imagery (e.g., ground equivalent pixel resolution is approximately 0.3 meters panchromatic 1.2 meters color for WorldView-3 satellite) and can return to the same location on Earth daily. Let’s look at the value of digital EO imagery. There are many data providers but far too many “pixels” to understand what information can be truly useful. ![]() According to the FBI, a $20,000 claim could cost $2,000 for a single property, and the average cost of fraud can increase insurance premiums between $400 and $700 annually per family.Ĭould using aerial or satellite Earth observation (EO) imagery reduce these costs and provide added benefits? The answer is a resounding “yes,” but what most companies fail to recognize is where the value lies. The average claims adjuster charges between 5% and 20% depending on the total claim amount. ![]() Assessing the damage in a timely and effective manner, and identifying fraudulent claims consumes resources. Every week, somewhere in the world, catastrophic natural disasters occur, and property and casualty (P&C) insurance companies pick up the cost to replace damaged and destroyed property.
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