Flying cars. That was the prediction many decades ago, then it morphed into drone delivery recently. Now it seems that smaller electric VTOL craft might be a more Net Zero solution for domestic flights or inland cargo, mountain rescue missions etc one day. The future is always unpredictable of course, which is why we need insurance. Here’s the word;
Newly incorporated, London-based Skyrisks Limited has linked with Quotech, the underwriter-led developer of truly useful, properly integrated technology platforms for underwriting and broking teams, to deliver insurance coverage for the fast-growing Advanced Air Mobility (AAM) sector.
AAM includes revolutionary aircraft such as the new breed of electric vertical take-off and landing (eVTOL) vehicles, as well as a broad array of innovative technologies both for piloted and autonomous flight. AAM is changing the game both for passenger and cargo loads in a range of commercial, private, and military operations. Skyrisks, which is backed by capacity from Convex, has adopted Quotech’s Underwriter Workbench to manage the insuring process for this exciting new high-tech industry.
“AAM risks are diverse and data-intensive, so we need an underwriting approach that puts all the information at our fingertips,” says Alistair Blundy, Skyrisks’ Chief Executive Officer. “We have adopted a data-driven approach to AAM insurance that enables us to develop first- and third-party insurance products as innovative as our client’s businesses. Quotech’s platform lets us concentrate our efforts on the complexities of each risk by streamlining the underwriting process.”
Guillaume Bonnissent, Chief Executive, Quotech, said: “We are delighted to be working with Skyrisks, the first MGA to focus exclusively on this leading-edge area of transportation and logistics. Our workbench product eliminates multiple pain points from the underwriting process by preparing and presenting precisely the data needed in exactly the right place and time.
“Whether customers are underwriters, brokers, actuaries, claims managers, or others in the risk sector, the power of Quotech to assess risks and support pricing, analyse portfolio exposures, source capacity, create audit trails through fully integrated modules, and reliably automate other dull daily functions is unsurpassed.”
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