Acend Brings First Usage-Based Insurance Platform to Unmanned Aerial Systems Market
Boston, MA (PRWEB) June 10, 2016 -- Usage-based insurance (UBI) is exploding as a phenomenon in the auto industry. Now, Acend, a leading telematics, software and data science provider, will deliver that same groundbreaking service to the Unmanned Aerial Systems (UAS) market.
Through a strategic partnership between Acend and PrecisionHawk, a leading provider of aerial data and safety platforms for drones, commercial drone operators will be able to access and procure UBI through Acend’s simple automated platform. PrecisionHawk will provide Acend with drone data, including flight statistics and user approval.
“By partnering with PrecisionHawk’s LATAS technology to provide real-time flight tracking information, Acend is building an innovative model to empower drone operators with a simple and secure way to obtain cost-effective drone insurance coverage,” says Christopher Dean, President and Co-Founder at PrecisionHawk. “The ability to simply pay a few dollars in a rapid micro-transaction is a game-changer in insurance accessibility for the average drone operator.”
Willis Towers Watson, a leading global advisory, broking and solutions company will serve as risk management advisor and insurance broker for the Acend platform. Willis Towers Watson is a market leader in delivering risk management and insurance solutions to the aerospace, aviation and transportation sectors, and has extensive experience in telematics via its DriveAbility® scoring platform. “We believe usage-based insurance is the future of the UAS market. Our focus is on supporting the Acend platform by leveraging what we have learned from the auto industry to deliver UBI,” said Jason Saunders, President of Willis Towers Watson Aerospace Practice.
Today the process for drone operators to secure insurance coverage is time-consuming, inefficient and complex for both carriers and operators. This collaboration will address the complexities and analog nature of UAS insurance by bringing the power of data analytics, technology, and a pleasant user experience together. Acend’s platform streamlines the insurance process and enables carriers to deliver UBI to the market.
“We are taking a user-centric approach to drone insurance,” says Acend CEO Steve Rabbitt. “We believe that creating an experience that is effortless for the consumer, in what is traditionally an inefficient and unpleasant process, differentiates Acend from other solutions. However, improving insurance is only the beginning of what Acend will do.” According to Rabbitt, Acend is already bringing partners to the platform that deliver value to customers beyond just the insurance transaction.
Acend is currently working with select aerospace insurance carriers and will begin piloting the technology later this year. Visit http://www.acend.io to apply for early access to the platform.
About Acend
Acend, a product developed by PlatformBrown Inc., brings together the power of data, technology, and analytics to deliver usage-based insurance to drone operators. Acend’s technology platform provides insurance carriers with the process and automation they need to scale and offers drone operators a better way to access and consume insurance. For more information, please visit http://www.acend.io.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking, and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries. Willis Towers Watson specializes in seeing the critical intersections between talent, assets, and ideas — the dynamic formula that drives business performance. For more information, please visit http://www.willistowerswatson.com
About PrecisionHawk Inc.
PrecisionHawk is a terrestrial data acquisition and analysis company founded in 2010. The company provides an end-to-end solution using Unmanned Aerial Vehicles (UAVs) for data collection and analysis software tools to deliver better business intelligence to clients across a wide range of civilian industries. PrecisionHawk also owns terrestrial data software, DataMapper, satellite imagery provider, Terraserver, and the Low Altitude Traffic and Airspace Safety platform for drones, LATAS. A privately held company based in Raleigh, NC, and Toronto, Canada, PrecisionHawk’s investors include Intel Capital, Millennium Technology Value Partners, Verizon Ventures, a subsidiary of USAA, NTT Docomo Ventures, Yamaha Motor, DuPont and Indiana University’s Innovate Indiana Fund. More information about PrecisionHawk can be found at http://www.precisionhawk.com or on Twitter @PrecisionHawk.
Nick Abate, Acend, http://www.acend.io, +1 7813505859, [email protected]
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