Skyrisks launches into market with Convex Group to address insurance needs of Advanced Air Mobility

Lon­don-based Skyrisks is part­ner­ing with Con­vex Group to address the fast-grow­ing insur­ance needs of the advanced air mobil­i­ty (AAM) sec­tor, lever­ag­ing the new breed of eVTOL and a broad array of inno­v­a­tive tech­nolo­gies.

The com­pa­ny launched ear­li­er this year as a man­ag­ing gen­er­al agent pio­neer­ing com­pre­hen­sive insur­ance prod­ucts for AAM busi­ness­es in part­ner­ship with Con­vex. AAM busi­ness­es will have diverse insur­ance needs includ­ing ‘hull all risks’, third par­ty lia­bil­i­ty, pas­sen­ger & crew lia­bil­i­ty, premis­es, prod­ucts and hangar­keep­ers lia­bil­i­ty.

Skyrisks has appoint­ed Alis­tair Blundy, a spe­cial­ist avi­a­tion under­writer with Allianz Glob­al Cor­po­rate & Spe­cial­ty (AGCS), to chief exec­u­tive offi­cer.

He said: “The vast major­i­ty of AAM air­craft are zero-emis­sion and excep­tion­al­ly ver­sa­tile, pro­vid­ing a clean­er, faster, qui­eter, and more afford­able alter­na­tive to con­ven­tion­al plat­forms. Skyrisks is com­mit­ted to dri­ving glob­al sus­tain­abil­i­ty in avi­a­tion, which today accounts for two per cent of glob­al emis­sions.”

‍Michael Hansen, Head of Aero­space at Con­vex, added: “Tack­ling the enor­mous chal­lenges of sus­tain­abil­i­ty and safe­ty in avi­a­tion are among the great­est respon­si­bil­i­ties of the insur­ance mar­ket. It will take a data-dri­ven spe­cial­ist such as Skyrisks to under­write the risk from the ground up with cov­er­ages tai­lored for the needs of the AAM ecosys­tem.”

Skyrisks will pro­vide risk man­age­ment to the AAM sec­tor through devel­op­ment of bespoke pol­i­cy forms and cov­er­ages, gran­u­lar pric­ing mod­els, and proac­tive tar­get­ed under­writ­ing appetite.‍

Con­vex Group is an inter­na­tion­al spe­cial­ty insur­er and rein­sur­er focussed on com­plex spe­cial­ty risks across a diverse range of busi­ness lines, was found­ed by Stephen Catlin and Paul Brand, and oper­ates out of Lon­don, Bermuda,Luxembourg and New Jer­sey. The com­pa­ny has an “A-” (Excel­lent) A.M. Best rat­ing and an “A-” with sta­ble out­look S&P rat­ing.