September 23, 2021
Robot-assisted claim inspections are just around the corner
What: Farmers Insurance is working with Boston Dynamics to customize Spot, the robot dog, to suit the needs of claim and property inspections. Spot is expected to join the insurer as early as this fall to help assess damage from catastrophes and the state of other locations deemed dangerous or uninhabitable.
Why it matters: Robotic inspections (including in the form of drones) have been used for a while now; but BD’s robot dogs have the ability to open doors and get closer to dangerous situations. We envision the future of remote property inspections to include robots being dropped off by van (or drone) and later picked back up when the inspection is complete, similarly to how electric scooters are serviced today in some urban areas. It will be interesting to see how society reacts as more of these robots pop up in everyday life.
Read: Farmers Insurance Plans First Use of Mobile Robot For Catastrophe Claims & Property Inspections
Argo AI, Ford, and Walmart launch autonomous deliveries
What: Alongside their partnership with Lyft for autonomous rides, Argo and Ford are now partnering with Walmart for deliveries. The initial launches will take place in Austin, Miami and Washington, D.C.
Why it matters: The trucker labor shortage has only gotten worse during the pandemic, and is impacting the supply chain. Autonomous vehicles are one way to address this shortage, and it will be fascinating to watch insurance companies deploy autonomous fleets as a risk mitigation tool for supply chain disruption insurance.
Read: Walmart to launch autonomous delivery service with Ford and Argo AI
Embedded Insurance is set for massive growth
What: With an estimated value of over $138 billion in 2026, embedded insurance represents a huge growth opportunity. According to a new Juniper Research study, embedded insurance is a compelling new distribution model, and its integration with consumer checkout processes provides several unique benefits.
Why it matters: Many apps have built trust with their user base. Insurance is a natural extension of what those apps can offer. It is a huge opportunity for insurers and the companies with which they partner to leverage that customer trust to move horizontally into insurance upsales.
Read: Juniper Research: Embedded Finance Market Value to Exceed $138 Billion in 2026, as APIs Intensify Fintech Competitive Landscape
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