Drone insurance start-up SkyWatch.AI launches in UK with policies written by Chaucer

Following a successful run in the US,  SkyWatch.AI, an on-demand telematics-based insurance platform for commercial drones, has launched in the UK.

The insurtech start-up will provide insurance policies to drone operators in the UK underwritten by specialty re/insurer Chaucer. It will allow drone pilots to purchase third-party liability insurance through its mobile application, choosing either a monthly or per-flight coverage plan.

SkyWatch is a data analysis, risk assessment, and active risk-reduction platform for the drone industry. It is offered by on-demand, usage-based specialised mobility insurance provider Voom.

The company's telemetry-based risk analysis platform provides a risk map to help pilots plan their flights, get real-time weather updates, and avoid potential hazards.

SkyWatch says its proprietary ‘Safety Score’ feature differentiates it from any other drone insurance product available in the market. This score can be used to set an industry benchmark for operators and contribute to lower premiums with insurance carriers in the aviation industry.

“Drone pilots are innovators in the way they use technology and run their businesses- and they need flexible coverage they can control and adjust to reflect this,” said Tomer Kashi, CEO and co-founder of VOOM and SkyWatch.AI. “Our service currently covers thousands of drone pilots in the US. We’re proud to expand SkyWatch.AI to the UK and provide a solution that helps drone pilots fly safer while saving money on their future insurance policies."

According to the company, the number of commercial operators permitted to fly drones in the UK has grown by 500 percent since 2010.

Grant Halliwell, head of aviation, said: “The drone industry is fast growing and dynamic and UAV operators want insurance that responds to the unique set of risks that drones confront and SkyWatch.AI definitely does this.”