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Sky-Futures appoints Flock as its drone insurance partner to support global expansion plans

Sky-Futures has cho­sen Flock as its drone insur­ance part­ner, which will allow the drone inspec­tion and sur­vey ser­vice provider to scale its drone insur­ance in line with glob­al expan­sion plans for 2021.

The com­pa­ny has now con­duct­ed hun­dreds of large scale projects in more than 33 coun­tries and under the new part­ner­ship, Sky-Futures will also be able to har­ness insights gen­er­at­ed by Flock’s risk intel­li­gence engine to fur­ther opti­mise safe­ty stan­dards, allow­ing them to con­tin­ue reduc­ing risk and there­by unlock addi­tion­al insur­ance sav­ings. 

Chris Black­ford, CEO of Sky-Futures, said: “Safe­ty is key for Sky-Futures and our cus­tomers, and we need­ed an insur­ance part­ner that shared this focus in every­thing they do. Flock goes above and beyond, help­ing to dri­ve safe­ty stan­dards across the drone indus­try and accel­er­at­ing the adop­tion of emerg­ing tech­nol­o­gy world­wide.

“As we’ve con­tin­ued to expand glob­al­ly, we need­ed to ensure that our insur­ance part­ner had the capa­bil­i­ty to keep up with our com­plex needs and rapid rate of growth. We are adding new drones, pilots, and loca­tions to our pol­i­cy almost every week, it was there­fore impor­tant we engaged a data-dri­ven insurtech like Flock that could keep up with our quick­ly chang­ing require­ments.” 

Estab­lished in 2016, Flock has analysed over a mil­lion drone flights and insures thou­sands of com­mer­cial drone oper­a­tors, from micro-SMEs to glob­al fleets. The insurtech’s risk intel­li­gence engine ingests real­time, third par­ty and pro­pri­etary data to cal­cu­late risk on a per-flight basis.

This analy­sis takes into account a wide vari­ety of datasets, from hyper-local weath­er and traf­fic flows to the oper­at­ing tem­per­a­ture and wind resis­tance of the drones them­selves. 

Flock uses the data gen­er­at­ed by its risk intel­li­gence engine to cre­ate in-depth risk pro­files of every oper­a­tor it insures. These risk pro­files pro­vide cus­tomers with expo­sure-based insur­ance poli­cies and reports detail­ing the major fac­tors impact­ing risk. By mak­ing oper­a­tional changes based on these risk reports, com­pa­nies can improve safe­ty stan­dards and, as a result, unlock addi­tion­al insur­ance sav­ings. 

Ed Leon Klinger, CEO of Flock said: “At Flock, we take pride in sup­port­ing some of the world’s largest drone fleets with fair, flex­i­ble and trans­par­ent insur­ance. Sky-Futures has been an indus­try pio­neer for many years, and we’re delight­ed to bring them on board.

 “In an increas­ing­ly con­nect­ed and autonomous world, it’s essen­tial that insur­ance com­pa­nies lever­age the vast amounts of real-time data avail­able to pro­vide fair, accu­rate pric­ing for their cus­tomers. But we can go fur­ther — at Flock, we’re help­ing our cus­tomers under­stand their own expo­sure to com­plex risks, how this impacts their pol­i­cy price, and how to reduce it over time”. 

The Lon­don-based insurtech is now work­ing with insur­ers to scale glob­al­ly and apply its tech­nol­o­gy to addi­tion­al indus­tries, all as part of its goal of becom­ing the go-to insur­er for a con­nect­ed and autonomous world.

Sky-Futures con­ducts a range of ser­vices across sec­tors includ­ing oil and gas, telecom­mu­ni­ca­tions, util­i­ties, renew­ables, engi­neer­ing, mar­itime and sur­vey. The com­pa­ny was acquired by pri­vate equi­ty-backed, asset integri­ty man­age­ment busi­ness, ICR Integri­ty in May 2019

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Jason Pritchard

Jason Pritchard is the Editor of eVTOL Insights. He holds a BA from Leicester's De Montfort University and has worked in Journalism and Public Relations for more than a decade. Outside of work, Jason enjoys playing and watching football and golf. He also has a keen interest in Ancient Egypt.

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