Starting at $10/hour through an iOS or Android app, Verifly’s model offers $1 million in liability coverage and $10,000 in invasion of privacy coverage. The company says it is suited for both recreational and commercial unmanned aircraft operators.
Verifly explains that its third-party coverage provides instant insurance moments before users deploy their drone – as opposed to insurance policies that require an annual commitment.
“Buy by the flight, not by the year,” the company states.
The app uses geospatial mapping to base the flying risks on the location and current conditions of the site of the drone operator. The policies are underwritten by Global Aerospace Inc., which Verifly says has been providing aviation insurance for more than 90 years.
Verifly was founded by Jay Bregman, CEO, and Eugene Hertz, chief technology officer (CTO). Bregman was previously founder and CEO of transportation app Hailo; before that, he was founder and CTO of e-Courier, an automated, same-day courier company that is now part of Royal Mail in London. Hertz was previously the founding chief information officer of Quidsi, an e-commerce site bought by Amazon. Before that, he was head of technology at The Topps co. and held a senior management position with DLJDirect, an online security brokerage.