How to Apply the Biggest Inspection Technology Trends from 2016 to Property Inspections in the New Year

How to Apply the Biggest Inspection Technology Trends from 2016 to Property Inspections in the New Year
Over the past year, insurance carriers in the property and casualty industry have seen a lot of changes in regards to inspection technology and the way that it’s used to assess risk.

The Biggest Inspection Technology Trends of 2016
Here are several ways that inspection technology trends from 2016 have changed the way that property inspections are now being completed:

1. Assessing risk with big data.
With an abundance of analytical data now available, some insurance carriers are now using this data to substitute the need to physically complete a property inspection for lower risk properties. While this can offer some up-front cost savings, it will be interesting to see if less physical property inspections will result in higher losses for insurance carriers.

2. Exploring the use of drone technology in property inspections.
In 2016, some of the larger insurance carriers tested how drone technology could help with the property inspection process. The findings have been that this type of inspection technology is able to cover larger areas in a time frame that a typical inspector would not be able to. This technology also allows for an aerial perspective you otherwise would not be able to gather. Now that the FAA has loosened its guidelines for the use of drones for commercial purposes, we’ll likely begin to see insurance carriers move away from just testing drones and instead use them as a valuable property inspection tool in 2017.

3. Using software to offer better collaboration between the property inspection company and insurance carrier.
We understand that our insurance carriers are under pressure to more efficiently and accurately underwrite risk. This is why we use the latest software to provide seamless collaboration between our property inspection company and our insurance carrier clients.

While Inspection Technology Continues to Evolve, Nothing Compares to an In-Person Property Inspection
Despite the evolution of inspection technology and the movement towards more modern systems, the best way that insurance carriers can add value to customers will continue to be through building relationships

At Insurance Risk Services, we’ve been partnering with insurance carriers in the property and casualty industry for more than 35 years. We’ve seen a lot of changes over the past few decades, and we’ve been able to grow with our partners to help them navigate these changes.

As an insurance carrier, you have a lot of competition in the marketplace. However, you can set yourself apart by using our property inspectors as an opportunity to get face time with your customers, expand your service offerings, and minimize risk.

When partnering with Insurance Risk Services, our property inspectors often interact with your customers. We want you to feel confident that our property inspectors will be representing your business in a positive light. After all, as far as the customer is concerned, our property inspector is the face of your business.

At Insurance Risk Services, we are well aware of the changes that the property and casualty insurance agency is currently going through. Our firm is small, nimble, and ready to change with our partners. Contact us to learn more about the value that our experienced team at Insurance Risk Services can provide.