UK insurtech startup Flock has launched a monthly subscription product, Fly Unlimited, to provide commercial drone operators with flexible month-to-month insurance.
Complementing Flock’s existing on-demand coverage, Fly Unlimited provides a middle ground for commercial pilots flying multiple missions each month. Instead of an annual commitment with significant upfront costs, the new subscription provides comprehensive equipment and Public Liability insurance for an unlimited number of UK flights, and worldwide coverage options by the month.
A flexible insurance option for commercial drone pilots
The commercial drone business is everchanging, particularly with regulatory changes and applications developing all the time. Individual pilots and small businesses often take on jobs at short notice, can go for days or weeks at a time without flying, and be swamped by busy periods.
Annual insurance packages aren’t always flexible enough to account for that. So a combination of Fly Unlimited and Flock’s on-demand product is a strong alternative.
Pilots have the freedom to adjust, pause, or cancel their policy anytime, without any hidden admin fees. Policy adjustments are easy to make, and can include adding or removing drones, covering additional pilots who fly under the same PfCO, or changing liability limits.
Aside from individual pilots, Flock looks to have created a package that will appeal to commercial fleet operators.
Ed Leon Klinger, Flock CEO said, “We’re building a range of simple, smart insurance products that cater to the entire drone industry. We designed Fly Unlimited by listening to our pilots and to the market; we can now cover large commercial fleet operators who need comprehensive, permanent cover, with the same digital flexibility that we offer to our Pay-as-you-fly pilots.
“Growing drone businesses might opt for the best of both worlds by simply alternating between the two products from within the app. We’re seeing that our customers use Fly Unlimited during busier periods, and switch to our hourly Pay-as-you-fly product when things wind down.”
Monthly cover from £24.95 per month
Flock’s Fly Unlimited policies are underwritten by its global insurance partner, Allianz. Cover starts from £24.95 a month, and pricing is driven by the risk-insights Flock has gathered through insuring thousands of drone flights via its Pay-as-you-fly option.
Since Flock launched Europe’s first Pay-as-you-fly drone insurance product in January 2018, the company’s community has grown more than 2,000% and now includes more than one-quarter of the UK’s commercial market.