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Category: trends

Drones in the Insurance Industry: Potential Liabilities for Insurers

In a survey of risk managers, 46% said they will be considering the use of drones within their own businesses in the next year, with 7% already using drones in business operations. Today, more than 100 insurance companies have received approval from the Federal Aviation Administration (FAA) to test drones for various commercial purposes in the U.S. But as drone use increases, drone-relat...

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Category: trends

3 Ways Drones Are Taking Insurance Claims to New Heights

From claims support to fraud prevention, drones are expected to have a $6.8 billion impact on the insurance industry over the next few years. A key area where commercial drones are particularly useful is in claims, helping insurers save time and reduce losses. Here’s how:   Reduce adjuster workloads by streamlining the claim process. A recent Cognizant report shows that drones are predic...

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Category: trends

Four Ways Artificial Intelligence Will Impact the Insurance Industry – For the Better

According to a recent Accenture report, over 75% of insurance executives surveyed feel that artificial intelligence (AI) will either significantly alter or completely transform the insurance industry within the next three years, and 39% believe that AI will revolutionize their company’s existing business operations. But with all the positive changes AI has brought, there is still more to...

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Category: trends

Cybercrimes: 3 Growing Trends That Should Be on Every Insurance Company’s Radar

The Internet of Things has provided opportunities for insurers to introduce new products, streamline processes, and improve customer service. However, if not appropriately managed, technology also provides a multitude of opportunities for cybercriminals. In a recent survey conducted by Accenture, “Gaining Ground on the Cyber Attacker: 2018 State of Cyber Resilience,” insurance organizati...

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