On-Demand Drone Insurance Skywatch.AI Launches in the U.K.

Offering pilots lower premium for safer operation, telematics-based insurance for commercial drones is offered by VOOM, a specialized mobility insurance platform for piloted craft on land, air or sea.

(Image source: DJI.)

SkyWatch.AI, a distribution platform for on-demand, telematics-based insurance for commercial drones, has announced its launch in the U.K. The company says its U.K. 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 U.K. drone pilots with access to its platform that enables data analysis and active risk-reduction capabilities for users. SkyWatch.AI launched for business in the U.S. on May 1, 2018.

Tomer Kashi, CEO, VOOM.

Commercial drone pilots using Skywatch.AI can receive instant, flexible, and affordable insurance, while lowering their rates by flying safer, according to the company. 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 provides a 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 reports. SkyWatch.AI also calculates a proprietary Safety Score for each flight based on the operator’s behavior. The telemetry-based Safety Score, which the vendor says 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,” comments 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.“

Rapidly Expanding U.K. Drone Industry

Grant Halliwell, Head of Aviation, Chaucer.

The U.K. drone industry continues to rapidly expand. In 2010, only a few commercial operators were permitted to fly drones in the country. Since then, the number of users has grown by 500 percent. The growing number of drone users shows an urgent need for effective insurance platforms to cover pilots, and thus also reveals an opportunity to innovators in this risk area.

“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,” comments Grant Halliwell, Head of Aviation, Chaucer. “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.”

SkyWatch.AI Integrates with Brokers to Provide On-Demand Drone Insurance

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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