American International Group received an approval from the Federal Aviation Administration (FAA) to operate small unmanned aerial vehicles (UAV) or drones. AIG will use drones to conduct risk assessment, risk management, loss control and surety performance for clients in the United States.
The FAA permit also allows AIG to conduct a research and development program to explore innovative ways to utilize drones to support the needs of its clients.
Morningstar Investment Conference: Using Annuities In A Portfolio For Added Stability
Drones improve AIG’s ability to assess and mitigate risks
In a statement, Eric Martinez, executive vice president of claims and operations at AIG said leveraging cutting edge technologies such as UAVs or drones improve their ability to assess and mitigate risks and enhance their services to customers.
Martinez added, “AIG is committed to continuous improvement and innovation in providing better, faster, and safer risk and claims assessments to our customers.”
The insurance giant emphasized that drones are helpful in accelerating surveys of areas damaged by disasters. Drones capture high-resolution images, which allow that company to process claims, risk assessment and payments faster.
In addition, drones can quickly and safely reach dangerous or inaccessible areas for manual inspection. It can also provide more information about properties, structures, and claim events.
AIG is in a unique position to operate drones
Currently, AIG has an international research and development program for drones or UAVs in New Zealand. The insurance giant already conducted drone flights in the country. It gathered valuable insights on image collection techniques, flight operations and technology, which will be integrated into the company’s global UAV strategy.
According to AIG, it is in a unique position to build its expertise to operate drones safely and effectively in the United States and other countries because of its global presence.
Last month, the FAA also approved Amazon.com’s request to test drones for package delivery. The agency required the e-commerce giant to document, quantify, and extensively report its trial deliveries.
Amazon.com criticized FAA’s regulatory approval as “too late” and “more restrictive” compared with the permit issued by the United Kingdom and other countries. The e-commerce giant said it took the agency more than half a year longer to issue a permit for testing commercial drones than other countries.