How Computer Vision Is Changing Insurance

The National Association of Insurance Commissioners recently created the Innovation and Technology Task Force to “explore the technological developments in the insurance sector.” It cited the rise of artificial intelligence as one of the key issues that the task force would address, citing the technology’s “potential to transform the insurance industry in a number of ways.” The message is being received loud and clear: adapt or be left behind.

The insurance industry has historically been a laggard compared to other industries when it comes adoption of new technologies. However, the industry should be credited for embracing recent advances in technology, most notably the use of computer vision (a form of AI) and drones, to automate or assist with what would have previously been arduous and/or dangerous tasks. The use of drones combined with AI technologies, like computer vision, are allowing many industries to automate or assist with what would have previously been arduous tasks: