The Impact of Emerging Technologies in Claims

An SMA Research Brief

Karen Furtado, Partner
Publication Date:
July 30, 2015
Number of Pages:
$995.00 USD

SMA has identified three top emerging technologies for use in claims: drones and aerial imagery, artificial intelligence, and the Internet of Things (IoT). Past SMA research investigated which of nine key emerging technologies pose the highest risks and offer the greatest potential for various areas of an insurer’s operations, and this report focuses on those that have high potential impact on claims while posing the lowest risks.

This report delves into the possibilities that drones and aerial imagery, artificial intelligence, and IoT offer for insurance claims, with discussions of both the potential benefits and the challenges that each technology may bring. SMA also gives specific examples of how these technologies are now in use or could be applied to insurance claims, ranging from CAT claims assessment via drone to virtual agents using artificial intelligence technology to IoT’s capacity to alter risk management.

Insurers looking for actionable insights about which emerging technologies are ripe for exploration in the area of claims will find them in this report, along with SMA’s recommendations for innovation and experimentation with these promising technologies.