Starr partners with insurtech SkyWatch for drone insurance

Insurance firm Starr Companies has signed an agreement with insurtech startup SkyWatch to offer usage-based insurance to the drone industry.

SkyWatch is a data analysis, risk assessment, and active risk-reduction platform for the drone industry.

The partnership will allow Starr to expand its existing unmanned aerial vehicle (UAV) insurance product and offer a telematics-based insurance to UAV operators.

“The use of UAVs is growing rapidly," said Steve Blakey, CEO of Starr Insurance Holdings. "SkyWatch allows qualified UAV operators to easily secure quality insurance coverage which is essential for any business.

"SkyWatch delivers the ability for Starr’s aviation business unit to easily obtain the proper data which can be used for better insights on the unique risk a UAV presents. We believe that SkyWatch brings a fresh approach to how insurance operates, and their safety solutions put them at the forefront of the industry.”

SkyWatch CEO Tomer Kashi added: "We are very excited to partner with a visionary company such as Starr. Their understanding of the importance of safety in aviation, amazing reputation, track record, and innovative approach makes them the perfect partner for SkyWatch."

Join us at Intelligent Automation in Insurance - London 2018. Spring Special:  Book before March 31st and save £200.

More of today's news

AXIS CEO calls 23% stock price drop ‘greatest disappointment of the year’

Swiss Re merges European units' leadership with new appointment

Markel poaches Everest Canada CEO

Digital applications in vessels worry marine insurers

General insurers face rising operating costs in UK

Don't miss our insurtech email newsletter - sign up today