AIG is selling drone insurance to protect you from 160,000 drones a year in the skies

AIG CTO Mike BradyBusiness InsiderAIG CTO Mike Brady

Mike Brady, the chief technology officer for insurance company AIG, owns a drone that he can control with his iPhone, he told attendees during Oracle’s OpenWorld conference, held in San Francisco’s this week.

But he’s more than just a hobbyist.

He’s convinced that drones are going to be a big deal for the insurance company in two ways. First, they are going to help insurers get to disasters and accident scenes faster, fly around and access damage. That’s why in April, AIG obtained its corporate drone licence, Brady said.

And that’s why, “we have IT professionals now working on commercialising drones.”

AIG is also looking at the day when commercial drones are legal and everywhere. The Association for Unmanned Vehicle Systems International predicts that by 2025, US businesses will be buying 160,000 drones a year, Brady says.

All those drones will become a big deal for insurance companies because having that many of them flying around “creates risk,” he said.

Thinking ahead, AIG is already selling drone insurance for everything from protecting your expensive commercial drone, to covering you for liability if your drone gets into an accident.

We can’t help thinking that AIG is looking at the future and seeing this Audi commercial:

Get THE DRONES REPORT now! Commercial drones are already a reality. BI Intelligence takes an in-depth look at the most important aspects, including market forecasts for commercial applications, regulatory process, and the leading players. Get the Report Here »

NOW WATCH: An Army veteran was shot multiple times protecting others students from the Oregon gunman

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.