Satellites hastening Florence and Michael claims payments
Friday, 10 19 2018, Category: Technology, Country: World
Aided by the London Market Association’s satellite imagery and intelligence service, Lloyd’s managing agents have started the process of assessing and paying claims to policyholders affected by hurricanes Florence and Michael.
The service, which was introduced last year and is now used by all Lloyd’s managing agents, utilises detailed satellite imagery and radar to provide ‘ground truth’ in the immediate aftermath of major claims events.
Service usage has reportedly increased by 75% since the 2017 hurricane season.