Another tech-based insurance startup enters the fray

Another tech-based insurance startup enters the fray

Another tech-based insurance startup enters the fray A startup based in Los Angeles is looking to change the way insurers process claims by introducing the use of technology—to be specific, two-way video hardware for claims processing and drones for appraisals.

The startup, called DropIn, launched in 2015. The company provides on-demand live video streaming services that allow insurance companies to conduct claims and underwriting process over live feeds.

Someone involved in a car accident, for instance, can contact their insurance adjuster. The adjuster, using DropIn’s services, can then interview the driver and appraise the damage using the driver’s smartphone to hold a video conference.

Similarly, DropIn’s services enable insurers to use drones to conduct fly-over property appraisals, or to send a fleet of drones to a disaster area to assess the possible damage.

TechCrunch reported that the drones are operated by a group of on-demand drone operators. These operators can drive to a site, operate the drone, and transmit the video and pictures to the insurer. DropIn has a network of 1,100 licensed operators at present.

Recently, the startup was one of the potential hopefuls selected for the Plug and Play tech startup platform, enabling it access to major insurers such as Allstate, Nationwide and State Farm.

DropIn had raised $1.75 million from friends and family through the platform, and is looking to raise an additional $3 million seed round.

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