The SkyWatch application relies on a variety of data sources -- from drone sensors and weather mapping to 3D airspace mapping and crowd density -- and Artificial Intelligence algorithms to predict and prevent potential failures before they ever occur.
PALO ALTO, Calif (PRWEB) April 30, 2018
SkyWatch.AI, the world’s first usage-based safety and insurance platform for the drone industry, announced today the launch of an industry-first drone safety and on-demand insurance app. Now available on the App Store and Google Play for both business and recreational operators, the SkyWatch application relies on a variety of data sources -- from drone sensors and weather mapping to 3D airspace mapping and crowd density -- and Artificial Intelligence algorithms to predict and prevent potential failures before they ever occur.
The SkyWatch app supports purchasing insurance for all types of Unmanned Aerial Vehicles (UAVs), or drones, under 55 pounds. In DJI drones, for Android devices and very soon on iOS, operators can also get real-time hazard warnings based off of the drone’s telemetry, calculating a proprietary “safety score” for each flight, based on the operator’s behavior. The “safety score” can be used to set an industry benchmark for operators, who will be more aware of how they fly, and will be able to improve their score as they practice better, safer flights. Additionally, operators will be able to purchase insurance based on this safety score.
“Drone operators need a solution that caters to their needs,” said Tomer Kashi, SkyWatch’s CEO. “Our platform doesn’t only offer insurance, or safety -- but marks a new era in drone insurance, where safer pilots can be rewarded for their efforts to fly safe, and actually pay less on their insurance premiums.”
One of SkyWatch’s unique features is the ability to plan flight areas more accurately by drawing a polygon, thus empowering operators to avoid hazards in a flight area and only pay for insurance coverage that they actually need.
Operators can use the safety platform and plan their flights, as well as receive SkyWatch’s Safety Score and purchase on-demand insurance, which is underwritten by STARR, a global insurance and financial services organization providing innovative risk management solutions. As operators gain flight time with SkyWatch’s platform, their safety score is constantly updated, and pilots with a safe track record will be able to get discounts of up to 50% on future policies.
Operators using the app are measured by 2 parameters:
1. Operator Total Claims-free Insured Flight Time. Similar to other “traditional” forms of insurance, operators with a good, claims-free history, are eligible for discounts on their premiums.
2. SkyWatch’s Proprietary Safety Score. Operators who fly with SkyWatch’s Flight Module (currently available for Android and coming soon to iOS) receive a post-flight analysis, covering different data points such as piloting skills, GPS signal and battery strength, flight speed and altitude, and a variety of other indicators, to create a unified Safety Score. Operators who receive a high Safety Score for 5 flights or more (with a minimum flight time of 5 minutes per flight) are eligible for additional discounts on their premiums.
SkyWatch is backed by Verizon Ventures, Kaedan and F2 Capital, and has recently announced its partnership with STARR, one of the global leaders in aviation insurance, to offer drone insurance across the US.
SkyWatch is a powerful data analytics platform that empowers drone operators and fleet managers to track their safety metrics and reduce flight risks preflight, in-flight (real time) and post-flight. The SkyWatch platform leverages the power of machine learning to not only assess the risk, but to actively mitigate it. For more information and to download the app, visit skywatch.ai.
Head of Business Development