SkyWatch.AI Launches On-Demand Drone Insurance in UK, Underwritten by Chaucer

July 15, 2019

SkyWatch.AI, the on-demand, telematics-based insurance platform, has launched in the United Kingdom following last year’s launch in the United States.

SkyWatch.AI’s UK policies will be underwritten by 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.

Both SkyWatch.AI and its parent company, VOOM, are managing general agents. SkyWatch.AI specializes in insurance for commercial drone users, while VOOM specializes in insurance for micro mobility devices, such as e-scooters, e-bikes, and powersports.

Regarding the UK offering, with 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 risk map to help pilots plan their flights, get real-time weather updates, and proactively avoid potential hazards, the company said.

SkyWatch.AI also calculates a proprietary ‘Safety Score’ for each flight based on the operator’s behavior. The telemetry-based Safety Score, which differentiates SkyWatch.AI from other drone insurance products, 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.

“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 U.S. 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 has grown by 500%, said SkyWatch.AI, quoting the UK Cival Aviation Authority.

“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,” said SkyWatch.AI.

Source: SkyWatch.AI

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