Sunday, July 25, 2021

Flock’s Fly Unlimited policy has landed

Fly Unlimited is the first of its kind flexible monthly drone insurance policy for frequent commercial flyers.

Today sees Flock unveil its new monthly subscription product, Fly Unlimited. Designed for commercial drone operators who fly frequently, the flexible month-by-month contract removes lengthy annual commitments, and large upfront costs. The new offering provides comprehensive equipment and Public Liability insurance for an unlimited number of UK flights, and worldwide coverage options by the month. Out-of-flight cover (including theft, transit, and storage insurance) is also included, providing additional peace of mind.

Fly Unlimited is the first flexible subscription product of its kind in the UK drone industry; 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.

Flock’s Fly Unlimited policies are underwritten by its global insurance partner, Allianz, with cover starting from £24.95 a month. The pricing for the new product has been driven by the risk-insights Flock has gathered through insuring thousands of drone flights via its Pay-as-you-fly product. Pilots can easily get a quote in under a minute on Flock’s website, or in the Flock Cover mobile app.

Since Flock launched Europe’s first Pay-as-you-fly drone insurance product to the Flock Cover app last January, there has been a resounding uptake from drone pilots across the country. Flock’s community grew more than 2,000% in 2018, with more than one-quarter of the UK commercial market now using the mobile app. Whilst pleased with this sky-high growth, Flock remains eager to provide insurance products that cater to the entire market of commercial drone operators; the launch of Fly Unlimited is the first step in the company’s path to achieving this.

Ed Leon Klinger, Flock CEO said:

At Flock, 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.

Ed went on to explain how combining both products can work particularly well for growing drone businesses:

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.

Policy details

  • EC785/2004 compliant insurance for an unlimited number of commercial flights in the UK
  • Worldwide cover options
  • Cover for multiple pilots (up to 10 under the same PfCO)
  • Drone and accessory insurance- up to £25,000 in-flight cover
  • Third-party Public Liability cover- up to £10M
  • Out-of-flight cover- including theft, storage, and transit insurance
  • Unintentional flyaways

How pilots can get a quote

Commercial and trainee pilots can get a Fly Unlimited quote in under one minute on Flock’s website, or in the Flock Cover mobile app.

About Flock

Flock is a London-based, VC and Government backed insurtech startup operating at the cutting edge of the data analytics and insurance space. Flock has formed a global partnership with Allianz, the world’s largest aviation insurer, to launch a suite of risk intelligence and insurance products for the drone industry.

Last year, Flock closed a £2.25M Seed round led by Anthemis, alongside Silicon Valley’s Plug and Play, Seed and Speed, and London VC Downing Ventures.  In addition, Flock has been awarded grants from Innovate UK, the Ordnance Survey, Slaughter and May and Norton Rose Fulbright.