The insurtech recently launched a policy for large drone fleets
London-based insurtech Flock has partnered with Skyports in a bid to develop its drone insurance delivery further.
It will design a bespoke Flock Enterprise insurance programme which involves the operating model of Skyports from testing through to operation.
And it will start with “Beyond Visible Line of Sight” (BVLOS) test flights in the UK, Belgium, Sweden and Finland.
The insurtech currently insures over 3,000 commercial drone businesses, it recently launched Flock Enterprise – an insurance policy that is tailored to large drone fleets.
The custom cover includes scaled premiums based on test flying, flight durations and multi-flight discounts. The Flock Enterprise package responds to the developing experience of pilots, and rewards experience in commercial flying with lower premiums.
It follows Flock’s move into the exposure-based insurance in the drone industry which found that an increase in commercial activity will be the “major driver” in drones becoming a $100bn market globally by 2020.
The partnership signifies this shift is already underway and provides a glimpse into the future of urban mobility, the insurtech stated.
Ed Leon Klinger, chief executive at Flock, said: “Our unique approach to real-time insurance will enable them to capitalise on granular risk insights to proactively mitigate flight risks, improve safety standards across their fleets, and reduce their insurance premiums.
“Flock Enterprise enables large drone companies to undertake increasingly complex flights and operations, from oil and gas inspections to autonomous package delivery. We’re proud that our technology is opening up the UK’s airspace and accelerating growth of the industry.”
The insurtech is venture capital and government backed, its products include pay-as-you-fly policies for SMEs as well as usage-based enterprise insurance for the world’s largest drone fleets.
The company is now working with major insurers, underwriters and brokers to explore how its proprietary real-time risk intelligence engine can transform other areas of insurance, from aviation to autonomous vehicles.
Who is Skyports?
Skyports is a startup specialising in drone infrastructure and a delivery firm based in London. It claims to be at the forefront of end-to-end drone delivery service which in turn could reduce costs, improve service and accelerate worldwide adoption.
It works directly with its partners to create tailored drone solutions that meet regulatory approvals from proof to full-scale operation.
It has been acquiring rooftop space within the UK and beyond for use as ’vertiports’ – a landing pad and facilities for cargo and passenger carrying drones.
So far it has purchased 15 rooftops in London, and it aims to scale this up to 80 or 100.
Duncan Walker, managing director of Skyports, added: “Skyports philosophy is to partner with companies early on to ensure we meet our customers’ needs and Flock provides this service for us.
“We have big plans to expand our global drone delivery operations and vertiport infrastructure offering and our tailored insurance cover with Flock ensures we do this safely whilst keeping costs low for our customers.”
Skyports also operated in Europe, North America, Africa and Asia and it claims to be showcasing the world’s first full-scale passenger vertiport in Singapore.
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