London insurtech startup Flock has partnered with Skyports to cover the latter’s early-stage drone delivery services in the UK, Belgium, Sweden and Finland.
Skyports, also based in the UK, has ambitious plans to build a worldwide network for passenger and cargo drones. The startup has purchased rooftop licenses for 15 ‘vertiports’ across London and is currently working with German and Intel-backed Volocopter on an urban mobility project in Singapore.
As well as developing infrastructure, Skyports works with partners to create tailored drone solutions and secure regulatory approvals. Part of getting passenger drones off the ground is ensuring that operations have the right type of insurance coverage.
Which is where Flock comes in. While Skyports has been busy acquiring rooftop space in urban centers around the world, the Flock team has been insuring commercial drone businesses and developing algorithms that calculate insurance premiums based on all kinds of flight metrics.
Flock and Skyports have agreed on a custom Flock Enterprise policy that will scale.
The Flock Enterprise product, which launched back in June, responds to the developing experience of pilots and the exact parameters of each operation. The company then helps customers understand the risk of their operations and adjust them accordingly.
Smarter insurance for drone deliveries and transportation
Proving that as much risk as possible has been mitigated is going to be a foundational step in implementing the drone delivery and transportation networks of the future. Which is why it makes plenty of sense for a partnership that will combine insights from thousands of drone flights with flexible insurance coverage.
Flock CEO Ed Leon Klinger said, “Skyports is one of the truly groundbreaking companies reinventing the future of urban mobility. 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.”
Duncan Walker, Managing Director at Skyports, said, “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.”