Flock has unveiled ‘Flock Enterprise’, an insurance and risk management solution for drone fleets.
The product leverages real-time data to provide highly bespoke insurance policies for enterprises using drones.
Driven by data, Flock says the approach can transform how organisations insure their connected drone fleets as it offers greater visibility into flight risk and rewards safer flights with cheaper insurance premiums.
A number of organisations are already using the solution including Flock’s flagship customer Texo DSI, a drone survey and inspection company.
David Williams, COO at Texo iHUB, said: “We see Flock more as a partner than as an insurer. Rather than simply offering us a price, they actively help our pilots and risk managers identify and minimise the organisational risks we’re undertaking.”
Adding: “We’re excited to work closely with them moving forward to really push the boundaries of what’s possible in the commercial drone industry.”
Flock Enterprise is powered by Flock’s proprietary Risk Intelligence Engine, which analyses and prices real-time drone flight risks on an individual basis meaning high-risk drone flights receive higher risk metrics, and therefore higher insurance prices while Safer flights are met with lower prices.
Ed Leon Klinger, Flock CEO, commented: “At Flock, we believe that insurance can be so much more than a piece of paper. We’re using cutting edge data science to not only unlock fully digital, customer-centric insurance products, but to completely transform the way organisations understand, manage, and mitigate their own risks.
“Our Pay-as-you-fly insurance policies have now helped thousands of small businesses fly safer. With the launch of Flock Enterprise, we’re making our technology available to some of the largest drone companies in the world. We’re delighted to be enabling Texo and others to expand the use-cases of our technology and theirs,” he concluded.