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Property Inspection Trends

Goals

Determine the trends surrounding the property inspection activities of insurance companies in terms of property inspection growth rate, outsourcing of in-house inspection teams, and the impact of COVID-19 on onsite inspections.

Early Findings

Property Inspection Trends

  • Drones continue to be a major help in the daily operations of the insurance sector and other industries during the COVID-19 pandemic. The drones are being used to virtualize and monitor their properties.
  • The commercial drone market is continuously growing and is projected to be worth $13.7 billion ny 2025.
  • To address the challenges brought about by the pandemic, the insurance industry is accelerating the mobilization of automation technology to handle their activities.
  • Most of the industry's outsourcing providers are also stopping their operations. due to the pandemic.
  • Insurance firms are also advised to invest and opt for virtual methods to resolve certain disputes.

Summary of Findings

  • Our one hour of research provided some insights and trends happening on property inspection activities of insurance companies with regard to the use of alternative inspection means such as drones.
  • However, the property inspection outsourcing growth rate figure was not available.
  • Given this, we propose the following slight pivot for this research topic.

Proposed next steps:

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