Can telematics make it easier to insure drones?
In our previous post, we pointed out the ways in which telematics can cut time, paper, and anxiety from claims processes, even as the technology provides real-time transactions, helps with ecological stewardship, and turns otherwise negative events into positive policyholder experiences. In this post, we’ll discuss the ways in which telematics can help insure your drones and protect you from liability.
Flying High
Drones are becoming more and more popular. They’re being used to replace things from fireworks to delivery trucks. And they’re being used for everything from racing to aerial photography. Now, with the same technology by which cars are insured and their drivers are scored, drones can be insured and their performances scored, along with their operators and the companies that use them.
To reduce liability, geospatial technology is able to determine if drones are intruding in no-fly zones, flying within unauthorized city limits, or flying above particular, permissible altitudes. And some insurers may offer skill tests for private drone users. The technology factors all those things into the score for each drone.
What You Do is What You Get
Like pay-as-you-drive, UBI coverages for automobiles, pay-as-you-fly coverages are available for drones. And if insurers offer rewards programs, safe scores can earn points toward premium reductions or shopping discounts. In addition, our msg.IoTA can help policyholders adhere to policy rules by sending notifications when activities or risks fall outside of policy specifications.
And if there’s already an IoT connection established between the drone and the person flying it or the program controlling it, there’s no further investment required, since the drones won’t require apps, dongles, or the similar apparatus required for cars.
Considering the effect drones already have on our lives, their usage and usefulness is certain to increase. Since that increased usage will likely have a commensurate increase in liability, insuring drones now is just good business sense.
For more information on our msg.IoTA, please click here.
