As the commercial drone industry expands, so do the services and tools that make any business work. Drone insurance has been growing right along side the industry, evolving to accommodate the specific needs of commercial operators. On-demand liability coverage, special equipment coverage, insurance through advocacy groups, and other offerings abound. The new partnership between Skywatch and Starr, a leading international insurer, takes precision insurance one step further.
CA-based SkyWatch is “a data analysis, risk-assessment and active risk-reduction platform for the UAV industry,” says a press release. The company offers a mobile app that uses the drone’s telemetry to calculate a “safety score,” based on a wide variety of data points.
Skywatch recently received $2 million in seed funding. The partnership with a major international insurance provider is another significant step forward for the company. “We are very excited to partner with a visionary company such as Starr”, said Tomer Kashi, SkyWatch’s CEO. “Their understanding of the importance of safety in aviation, amazing reputation, track record, and innovative approach makes them the perfect partner for SkyWatch.”
“Starr is one of the largest aviation insurers in the US,” added Ori Blumenthal, SkyWatch’s CTO. “Their ability to look to the future and perceive trends is what makes them such a category leader – and their understanding of usage-based insurance is what will keep them there.”
“The use of UAVs is growing rapidly. SkyWatch allows qualified UAV operators to easily secure quality insurance coverage which is essential for any business. SkyWatch delivers the ability for Starr’s aviation business unit to effortlessly obtain the proper data which can be used for better insights on the unique risk a UAV presents,” said Steve Blakey, President and CEO of Starr Insurance Holdings. “We believe that SkyWatch brings a fresh approach to how insurance operates and their safety solutions put them at the forefront of the industry.”
“Drones are a perfect fit for usage-based insurance. Since most drones involve operations from a mobile device, they are connected in their nature,” added Steve Blakey. “As more and more platforms become connected, we expect to be able to offer the same solution for more emerging technologies.”
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
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