Eyes in the Sky
Site inspections are a mainstay of the underwriting process for both new and renewal business. Most insureds and agents are familiar with the traditional method of having a field inspector physically come out to the property to take photos of the current condition of the dwelling. These photos are compiled into a report that is then sent to the insurance carrier and reviewed to determine the eligibility of that dwelling for coverage within the carrier’s guidelines. This process can be both time-consuming and expensive.
AFM, like many other insurance companies, is always looking for ways to improve our processes to be more efficient and cost-effective. One way to do this is by employing the use of drone technology. Drones can quickly and easily take photos of locations that may be difficult or even dangerous for a human to reach. Why make an inspector climb a ladder to get onto a roof when a drone can take a high-resolution aerial photo for you instead?
AFM’s inspection vendor has access to a robust collection of aerial imagery that has been taken by drones and satellites belonging to third parties. Especially in more populated areas of our state, such as near major cities, these images may be captured several times each year. When a virtual inspection is ordered on a property through our vendor, our underwriters receive an interactive experience in which they have the ability to zoom in and out on the location, as well as compare historical views to identify changes made over time. This helps us to pinpoint events like roof replacement or the addition of a swimming pool or trampoline. Street views are often also included which can help to confirm attributes of the property, such as construction type. These virtual inspections are received in a fraction of the time it would take to obtain a traditional inspection, at a fraction of the price.
In circumstances such as on renewal business where we already have a prior site inspection on file or on new business where there are recent real estate photos available online, this virtual inspection may be all that we need to assess the current condition of the property. If further information is needed, we then proceed with ordering a full site inspection.
Even when the virtual inspection is not sufficient to make an underwriting determination, there is still value received in the review of the historical data and the aerial imagery. Our underwriters can use these tools to narrow down specific items that need additional review or follow up, which helps them to efficiently review the complete inspection when received.
No matter whether an actionable item is seen on a virtual inspection or a traditional site inspection, AFM’s goal will always be to attempt to remedy or mitigate the issue if possible. If it’s something that can be fixed, we want that to be the course of action taken. Even though the method of inspecting our insureds’ properties might have changed, our duty to our independent agents remains the same. We will always be transparent in the reasoning behind our requests, and will always be available to answer any questions that may arise.
