Acend Inc., an insurance and technology company, says it is working together with Liberty Specialty Markets, part of Liberty Mutual Insurance Group, to provide a new drone insurance platform, DroneInsurance.com.
By replacing paperwork and complexity with data-driven automation and user control, DroneInsurance.com is a platform that makes buying drone insurance easy to understand and convenient to purchase online, the companies say.
“Insurance is complicated for drone operators. Insurance providers rely on historical manned aviation methods to evaluate drone risk. This approach has proven difficult to adapt to the dynamic way drone enterprise works and places many operators with rigid, complex and expensive policies,” says Jason Griswold, co-founder and chief operating officer of Acend.
According to Acend, key components of the platform are as follows:
- Platform provides coverage for all drone types, sensors and equipment;
- Baseline policies for drone assets on the ground start at an affordable cost;
- Flight coverage may be purchased on-demand to suit the customers’ enterprise requirements – whether customers require flight coverage for one day or one year, the on-demand insurance platform provides users with the control to dial up or down the policy coverages they need, when they need them;
- Includes a “Flight Saver” intelligent system that automatically looks for and applies discounts to customers who employ risk reduction techniques, such as continuous pilot training, implementation of safety management and operation of more reliable equipment;
- A fast and easy-to-use claims portal and support center;
- An easy-to-use document center, including the ability for a client to add additional insureds; and
- An easy-to-use program for brokers.
DroneInsurance.com will go live in limited release and be on display for the first time at XPONENTIAL 2017. As reported, it will move into full release across the U.S. this summer, with additional international markets scheduled to follow.