LONDON, UK // WASHINGTON DC, 3 February, 2016 — Willis Re, the reinsurance business of leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW), today announced a strategic partnership with technology company Measure to advance the use of drones within the insurance industry and bring the very latest in drone technology to Willis Re clients.
As highlighted in the recent America Red Cross study -- “Drones for Disaster Response and Relief Operations”, sponsored by Willis Towers Watson and other private sector partners -- integrating drone technology into the insurance process has huge potential to improve risk assessment and claims response times.
As the report outlines, drones can more easily identify properties and infrastructure that have been flooded or are in the path of rising water. Aerial data can also be utilized to better understand the factors leading to property damage and make recommendations for mitigating losses. Drones also provide access to real time data, allowing insurers to collect more timely and accurate data to support the claims process.
Alice Underwood, Executive Vice President and Director of Analytics at Willis Re North America, said: “Drone technology has the potential to completely transform the insurance industry. There is a huge opportunity for the use of drones to improve public safety and enhance damage estimates, and incorporating drone usage into the insurance process is the next big step. With market demand for access to drone technology increasing, this new partnership with Measure opens the door for Willis Re clients to efficiently integrate the latest drone technology into their operations.”
Kat Swain, Vice President of Insurance at Measure, said: “The future of the drone industry is not in the hardware, it is in a service model. Rather than companies worrying about the mechanics involved in flying drones and making a steep, upfront capital investment in drone technology that may be obsolete in a few months, Measure’s Drone as a Service® model allows companies to save costs while having access to all the data analytics they need to advance their bottom line. This model allows insurance companies to focus on what matters most, delivering the best quality service to their customers.”
For further commentary from Alice Underwood on how drones can help disaster responses, click here.
About Willis Re
One of the world's leading reinsurance brokers, Willis Re is known for its world-class analytics capabilities, which it combines with its reinsurance expertise in a seamless, integrated offering that can help clients increase the value of their businesses. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world's top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. The broker's global team of experts offers services and advice that can help clients make better reinsurance decisions and negotiate optimum terms. For more information, visit willisre.com.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 territories. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
Measure is the world's leading Drone as a Service® company with the largest Federal Aviation Administration approval to date and the ability to fly more than 450 different types of drones for a broad range of commercial applications. Measure provides turnkey solutions to acquire, process, and deliver cost-effective, actionable aerial data to enterprise customers. We don't make drones. We make drones work. More information is available at www.measure.aero.