Lorenz Technology has announced its partnership with Flock, an insurtech startup, operating at the cutting-edge of data analytics and insurance. Both companies have worked on a fully flexible insurance policy for the fleet of drones flying with Lorenz AI- Link®, establishing a joint value of flight experience across the platform benefitting customers.
Lorenz say that,
“The partnership with Flock will allow us to align insurance costs with activity while gathering insights on how to further improve safety standards. We are currently operating across Denmark, UK, Germany, and Belgium, making intelligent drone solutions for industrial ports and the security industry.
What makes the work with Flock particularly unique is that the Lorenz AI-Link® has been classified as a pilot. This means as the edge-computer gains more in-flight experience and learns how to increase safety standards, the cost of insuring the system will reduce.”
Lorenz AI-Link® is an edge-computing device controlling the navigation of the drone. It is connected through 4G to the Lorenz Hive, a web interface for mission planning, preprogramming routes, and administration of all data from flight logbooks to sharing recorded data in real-time. Lorenz AI-Link® also documents and saves all flight data automatically meaning any organization using the platform will be able to easily access exposure-based insurance policies from Flock.
Flock’s fundamental approach to exposure-based insurance is quickly earning it a reputation as the go-to insurer for the autonomous and connected world. Its customers now include some of the world’s leading UAV operators including Terra Drone, Skyports, and Hummingbird Technologies.
Lorenz added that,
“The next step for us is expanding the use of drones to provide visual data in the maritime industry, as well as services in the field of security and facilities management.”