Having partnered up with Allianz, disruptive drone insurer Flock has now gone live with its app-based, on-demand drone cover product. The service provides immediate insurance for commercial UAV pilots in the UK, with policies starting from just £5 for up to eight hours of liability and drone hull cover.
The Flock Cover app takes drone pilots just a minute to set up a profile and purchase fully compliant hull and liability insurance. The policies are tailor-made to each flight, allowing pilots to customize their policies by selecting a cover duration (between one and eight hours) and public liability limit, ranging from £1 million to £10 million ($1.4 million to $13.9 million).
Having that on-site flexibility is excellent news for commercial drone pilots, who may often be supplying aerial photography for a magazine, TV production company, PR agency or You Tube channel.
Flock first announced in July 2017 it had partnered with aviation insurer Allianz, which underwrites Flock’s insurance policies in the UK. The Flock Cover smartphone app is available in iOS and Android formats.
According to Flock, the data-driven approach of insurance cements its departure from traditional insurers. For example, when pilots choose a 500-metre radius circle (the “Flight Area”), Flock’s proprietary algorithms aggregate and analyze localized data within that area to quantify the risk of any given drone flight in real-time.
“This dynamic risk assessment generates a proportionally priced quote, which is immediately visible to the user,” Flock said, noting that the premium is a competitively priced alternative to the UK market’s current offering of flat-rate annual policies.
Flock said the Flock Cover app simultaneously functions as a flight safety tool for pilots. Real-time risks, such as hyper-local weather conditions, nearby ground hazards, and restricted airspaces are clearly displayed to the pilot before take-off.
In addition, the company also offers a predictive risk analytics engine, which means that pilots can see their risks (and book insurance) for any flight up to 10 days in advance.