Pre and Post Catastrophe Monitoring

Customers are switching carriers at an alarming rate due to poor claims experiences, leaving $170 billion in premium at risk over the next 5 years. Research indicates that fraud occurs in about 10% of property-casualty insurance losses, amounting to $45 billion annually. Carriers need a solution to validate damages, reduce expenses, and accelerate claims processing to improve customer satisfaction and reduce churn.

Near Space Labs provided pre- and post-catastrophe imagery, enabling carriers to validate and accelerate claims while reducing litigation and expenses. With timely post-event imagery, assessors remotely determine the extent of damage, triage inspections to partial loss cases, and immediately issue payments to customers in the case of a full loss, without an on-site visit.

Carriers improved operational efficiency, reduced costs, and delivered faster payouts resulting in better customer experiences and lower churn.