Two players in the commercial drone space have just announced a partnership to help reduce insurance costs for commercial drone pilots. It’s a partnership that makes sense – an InsurTech platform that’s all about quantifying risks, and a developer of drone safety systems proven to significantly reduce those risks: these two Israeli startups are joining forces to benefit drone operators.
As stated in the press release (included below), “SkyWatch.AI Drone Insurance, a prominent risk-assessment and InsurTech platform for the drone industry and ParaZero, the leading developer of advanced drone safety systems, announced today a collaboration that will allow drone pilots, using the SafeAir Parachute to receive reduced rates on their drone insurance.”
This follows in SkyWatch.AI recent expansion in England and companies that use Parazero Drone Safety Systems to mitigate the risk of flights over people enabling FAA waivers.
From their recent press release:
SkyWatch.AI Drone Insurance Launches Partnership with ParaZero Drone Safety Systems to Benefit Safer Drone Pilots
SkyWatch.AI Drone Insurance, a prominent risk-assessment and InsurTech platform for the drone industry and ParaZero, the leading developer of advanced drone safety systems, announced today a collaboration that will allow drone pilots, using the SafeAir Parachute to receive reduced rates on their drone insurance. The companies have teamed up in order to further benefit safe pilots who take extra measures to reduce drone risks.
Pilots with ParaZero’s SafeAir system can now share their flight data with SkyWatch.AI and receive a higher Safety Score that will provide them with a unique reduced rate. At the same time, SkyWatch.AI’s pilots will be able to receive significant discounts for ParaZero’s system in addition to their end-of-year prices.
The collaboration between SkyWatch.AI and ParaZero will allow drone operators to dramatically mitigate risk through the ASTM compliant ParaZero system, reduce their insurance costs with SkyWatch.AI, and also apply for a Flight Over People waiver with the FAA. This cooperation brings with it added value to drone operators, and is another great advancement in the development of the commercial drone ecosystem.
ParaZero’s SafeAir Systems support DJI Mavic and Phantom drone models, use independent computer and sensors to detect critical failures in real-time, stop the rotors, deploy a parachute, and bring down the drone at reduced energy, and enhanced safety. The systems have been tested thoroughly in real life flight failures and are compliant with ASTM F3322-18. The ParaZero systems are used in dozens of approved FAA 107.39 waivers for drone operations over people.
“Safety has always been a main priority in SkyWatch.AI’s efforts to promote drone usage,” said Tomer Kashi, SkyWatch.AI CEO and Co-Founder. “We are proud to team up with ParaZero as we believe that pilots who use advanced safety systems such as the SafeAir parachute should be rewarded.”
“ParaZero is thrilled to be partnering with SkyWatch.AI. This is a unique opportunity that allows drone operators who take all the safety measures to be rewarded for their efforts to mitigate risk.” said Eden Attias, CEO of ParaZero.
ParaZero Technologies (www.parazero.com) is the leading developer of safety systems for the commercial drone industry. ParaZero’s autonomous SafeAir parachute systems are the only off-the-shelf systems to enable legal flight over people at scale in the United States, Canada and elsewhere.
SkyWatch.AI is the world’s first on-demand, telematics-based insurance platform for the drone industry. The SkyWatch.AI platform leverages the power of machine learning to assess and mitigate risks and provide tailor-made hourly and monthly coverage for drone pilots across the US and UK.
Drone insurance in the US is provided by SkyWatch Insurance Services, Inc. a licensed insurance broker in all US states where SkyWatch.AI operates and is underwritten by STARR Indemnity & Liability Company, the largest aviation insurer in the US (“A”, Excellent rating by A.M. best).
More about SkyWatch.AI at: https://www.skywatch.ai