Insurtech News: Telematics For Commercial Use Drones? You Got It

 SkyWatch.AIthe world’s first on-demand, telematics-based insurance platform for commercial drones, today launched in the United Kingdom. The use of drones is something that many insurers, underwriters and MGAs are getting to grips with, as it can often speed up the claims process, especially in cases like flooding, major fire incidents such as Notre Dame, or assessing levels of crop damage following a hurricane or storm.

Outside the insurance sector, commercial drones are being used extensively in the media, construction and in heavy industry, because can drones can often obtain imagery where humans cannot easily reach. Every commercial flight needs insurance and this is where telematics comes into play, because the more data you have on flight times, GPS locations, operators etc. the better your quote will be come renewal time.

Building on its success in the USA, SkyWatch.AI’s UK policies will be underwritten by international specialty insurance and reinsurance group Chaucer. SkyWatch.AI is offered by on-demand, usage-based specialized mobility insurance provider VOOM, and will provide UK drone pilots with access to its platform that enables data analysis and active risk-reduction capabilities for users.

Using Skywatch.AI, commercial drone pilots can receive instant, flexible, and affordable insurance, while lowering their rates by flying safer. Drone pilots can purchase third-party liability insurance via SkyWatch.AI’s mobile application, choosing either a monthly or per-flight coverage plan.

SkyWatch.AI’s telemetry-based risk analysis platform will provide a best-in-class risk map to help pilots plan their flights, get real-time weather updates, and proactively avoid potential hazards. During flight, pilots will be able to use the in-app DJI compatible flight module and get real-time safety alerts as well as post-flight analysis. SkyWatch.AI also calculates a proprietary ‘Safety Score’ for each flight based on the operator’s behaviour. The telemetry-based Safety Score, which differentiates SkyWatch.AI from any other drone insurance product, can be used to set an industry benchmark for operators to improve their score as they practice safer flights, as well as contribute to lower premiums with leading insurance carriers in the aviation industry. 

“Drone pilots are innovators in the way they use technology and run their businesses- and they need flexible coverage they can control and adjust to reflect this.” said Tomer Kashi, CEO and co-founder of VOOM and SkyWatch.AI. “Our service currently covers thousands of drone pilots in the US. We’re proud to expand SkyWatch.AI to the UK and provide a solution that helps drone pilots fly safer  while saving money on their future insurance policies.“

The UK drone industry continues to rapidly expand. In 2010, only a few commercial operators were permitted to fly drones in the UK. Since then, the number of users hasgrown by 500%, demonstrating how the UK commercial drone industry continues to expand tenfold. The growing amount of drone users only emphasizes the dire need for effective insurance platforms to cover pilots who pose risks not only to other individuals, but to major operation hubs such as airports.

“We provide innovative underwriting products and a first class service to our aviation clients and believe that our partnership with SkyWatch.AI will deliver this,” said Grant Halliwell, Head of Aviation. “The drone industry is fast growing and dynamic and UAV operators want insurance that responds to the unique set of risks that drones confront and SkyWatch.AI definitely does this.”

 

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