Acend, a product developed by PlatformBrown Inc., is bringing together data, technology and analytics to deliver usage-based insurance (UBI) to unmanned aircraft system (UAS) operators.
Through a strategic partnership between Acend and PrecisionHawk, commercial drone operators will be able to access and procure UBI through Acend’s automated platform. PrecisionHawk will provide Acend with drone data, including flight statistics and user approval.
“By partnering with PrecisionHawk’s [low altitude traffic and airspace safety] platform technology to provide real-time flight tracking information, Acend is building an innovative model to empower drone operators with a simple and secure way to obtain cost-effective drone insurance coverage,” says Christopher Dean, president and co-founder of PrecisionHawk. “The ability to simply pay a few dollars in a rapid micro-transaction is a game-changer in insurance accessibility for the average drone operator.”
Willis Towers Watson, an advisory, broking and solutions company, will serve as risk management advisor and insurance broker for the Acend platform. Willis Towers Watson delivers risk management and insurance solutions to the aerospace, aviation and transportation sectors and has experience in telematics via its DriveAbility scoring platform.
“We believe usage-based insurance is the future of the UAS market. Our focus is on supporting the Acend platform by leveraging what we have learned from the auto industry to deliver UBI,” explains Jason Saunders, president of Willis Towers Watson’s aerospace practice.
Acend is currently working with select aerospace insurance carriers and will begin piloting the technology later this year.