IRDAI wants insurance companies to use drones to reduce claim settlement period (8/12)

Insurance Regulatory and Development Authority of India (IRDAI) is planning to change the norms for surveyors, so that they could use emerging technologies like drones to reduce claim settlement gestation period.

There have been already an early adoption of drones in in the general insurance industry.

  • ICICI Lombard General Insurance has used drone technology for assessment of quantum of cultivable land it’s yield in Gujarat.
  • Tata AIG used drones for primary assessment of infrastructural damage due to Cyclone Vardha in 2016.
  • Cigna TTK Health Insurance Company mulls the use of drones in even accident claims cases, where the need is to file the and process the claim as soon as possible, which could be in inaccessible areas.