Commercial drone insurance takes off in Europe thanks to Flock
Connected insurance specialist, Flock has partnered with yet another leading aviation underwriter as it continues to expand globally.
Flock’s latest partnership means European pilots can now access EASA compliant insurance in minutes.
The latest deal signed with Sompo International makes it easier than ever for operators across Europe to access commercial drone insurance.
The deal also supports the future of unmanned aviation by increasing the availability of critical insurance needed for emerging use-cases, like drone cargo deliveries, flying taxi passenger flights and drone swarm shows. This makes Flock the first specialist insurer to offer custom policies tailored to these emerging use cases.
Mr. Julian James, CEO, International Insurance, Sompo International said, “At this time of significant change across the business landscape, insurers, brokers and disruptors need to work together to develop innovative responses to a raft of emerging and evolving risks. Drones have multiple applications and are set to transform a range of industries from e-commerce to risk management and crisis response. The sheer breadth of applications means the global commercial drone market is expected to be worth in excess of US$40 billion by 2025. Flock is a market leader in this sector with tremendous potential; it has a proven business model utilising a transferable and scalable technology that has already delivered unique products and an impressive growth story.”
Mr. Ed Leon Klinger, CEO of Flock, said: “By combining Flock’s data-driven approach to risk with Sompo International’s significant expertise and established global distribution networks, this partnership marks an important milestone in the evolution of drone insurance globally. Vehicles are increasingly connected, autonomous, and powered by real-time data. At Flock, we’re building insurance products to accommodate for this new world and so it was vital to partner with an underwriter that shares our ambitious vision.”
Mr. Andrew Metcalfe Sompo International’s Senior Vice President, London Market Aerospace Insurance said: “The increasing use of automation will be a key factor in the development of transportation in the future. Flock’s technology platform has the ability to deliver significant benefits, including the real-time use of data to provide insight into developing efficient operations and enhanced safety management systems, increasing the operational footprint of Unmanned Aerial Vehicles.”
This news follows the launch of Flock’s motor fleet insurance at the end of last year and the introduction of Flock Fridays, a new online show featuring interviews with the most exciting companies in the drone industry.
