Lorenz Technology chooses Flock as its connected insurance partner

Drone soft­ware firm Lorenz Tech­nol­o­gy is to work with Flock to cre­ate a ful­ly flex­i­ble insur­ance pol­i­cy for its fleet, so it can align insur­ance costs with activ­i­ty while gath­er­ing insights on how to increase safe­ty stan­dards.

The com­pa­ny has devel­oped a patent-pend­ing embed­ded plat­form that allows off-the-shelf drones to har­ness arti­fi­cial intel­li­gence-pow­ered auton­o­my and intel­li­gence.  

Lorenz AI-Link® is an edge-com­put­ing device con­trol­ling the nav­i­ga­tion of the drone. It is con­nect­ed through 4G to the Lorenz Hive, a web inter­face for mis­sion plan­ning, pre­pro­gram­ming routes and admin­is­tra­tion of all data from flight log­book to shar­ing record­ed data in real-time.  Lorenz AI-Link® also doc­u­ments and saves all flight data auto­mat­i­cal­ly mean­ing any organ­i­sa­tion using the plat­form will be able to eas­i­ly access expo­sure-based insur­ance poli­cies from Flock. 

Anders Olsen, COO of Lorenz Tech­nol­o­gy said: “Flock is the per­fect insur­ance part­ner. Lorenz Tech­nol­o­gy need­ed a flex­i­ble pol­i­cy where the price is based on our actu­al expo­sure to risk dur­ing our flights. This allows us to align our costs with our com­mer­cial activ­i­ty.

“This data-dri­ven approach to insur­ance is help­ing sup­port the grow­ing enter­prise drone mar­ket where pilots, drones and activ­i­ties change rapid­ly. Work­ing with Flock our insur­ance costs are deter­mined based on every­thing from pilot expe­ri­ence to weath­er con­di­tions and pop­u­la­tion den­si­ty.”

With cus­tomers includ­ing Port Esb­jerg, G4S and Heliguy, Lorenz Tech­nol­o­gy has cre­at­ed a cloud plat­form for auto­mat­ic upload and man­age­ment of drone data, inte­grat­ing drones as strate­gic tools for visu­al data col­lec­tion.

The next step for Lorenz Tech­nol­o­gy is expand­ing the use of drones to pro­vide visu­al data in the mar­itime indus­try, as well as ser­vices in the field of secu­ri­ty and facil­i­ties man­age­ment. 

And what makes its work with Flock par­tic­u­lar­ly unique is that the company’s AI tech­nol­o­gy has been clas­si­fied as a pilot. This means as the edge-com­put­er gains more in-flight expe­ri­ence and learns how to increase safe­ty stan­dards, the cost of insur­ing the sys­tem will reduce.  

Flock’s fun­da­men­tal approach to expo­sure-based insur­ance is quick­ly earn­ing it a rep­u­ta­tion as the go-to insur­er for the autonomous and con­nect­ed world. Its cus­tomers now include some of the world’s lead­ing UAV oper­a­tors includ­ing Ter­ra Drone, Sky­ports and Hum­ming­bird Tech­nolo­gies.

Sam Gold­en, Head of Sales and Mar­ket­ing at Flock, said: “The work Lorenz is doing to low­er the bar­ri­ers to entry for any indus­tri­al facil­i­ty or port look­ing to use drones is incred­i­bly impres­sive. The com­bi­na­tion of arti­fi­cial intel­li­gence, edge-com­put­ing and unmanned aer­i­al sys­tems is unlike any­thing I’ve seen before. 

“Lorenz AI-Link® may be the world’s first ful­ly insured robot pilot but one day this tech­nol­o­gy will be every­where. It will trans­form how we live, work and play. We look for­ward to sup­port­ing the team at Lorenz Tech­nol­o­gy for many years to come as they con­tin­ue on their mis­sion to make all drones fly autonomous­ly.”

Cur­rent­ly oper­at­ing across Den­mark, UK, Ger­many, and Bel­gium, Lorenz Tech­nol­o­gy makes intel­li­gent drone solu­tions for indus­tri­al ports and the secu­ri­ty indus­try.