Allianz creates UBI drone policy with insurtech start-up Flock
Insurer Allianz Global Corporate and Speciality (AGCS) has joined forces with insurtech start-up Flock to offer a digital insurance solution for drones. The insurer will offer a mobile app which allows drone operators to purchase pay-as-you-fly insurance, to launch later in 2017. According to AGCS the number of drones in the air will triple by the year 2020, bringing new risks to be mitigated. The new app will provide simple policies that will suit both commercial and recreational drone operators.

The first product will be a mobile app for pay-as-you-fly drone insurance.

Allianz Global Corporate & Specialty (AGCS) has teamed up with InsurTech start-up Flock to develop digital insurance solutions for the drone market.

The insurer stated that the partnership’s first product, a mobile app enabling operators to buy pay-as-you-fly drone insurance, would be launched in the UK later this year.

According to a report by AGCS the number of drones, or unmanned aircraft systems (UAS), is set to triple by 2020.

The insurer noted that the increasing number of drones also