Flock offers on-demand insurance for drone pilots

by Startacus Admin
The drone industry might have started off as something of a fad, but where people might have expected interest in it to die down, it has only become stronger and stronger.
In the US alone, just under 2.5m personal drones were sold in 2016. And while the individual hobbyist is finding entertainment in drones, businesses and entrepreneurs are finding more and more applications for them, cutting down on man-hours, saving money, making things simpler, and opening up avenues that would have been either impossible or hugely expensive before.
Commercial drones are used for mapping, inspections, photography, crop maintenance, delivery, to aid search and rescue… The list goes on.
As usage rises and applications for drones increase, however, so do the dangers. Injury to the operator and others, damage to the drone and property, even collisions with other aircraft - these are all things that happen more frequently than people might realise. And where there is risk of damage and injury, there is the need for insurance.
The problem is getting inexpensive insurance. Drone coverage is difficult, as there is no historical data to draw from and the range of applications and possibilities are too great. Insurers simply do not have insight into what drone operators are doing with their drones, and operators cannot identify all the potential risks for each flight (not to mention the fact that each flight could be completely different to the last).
VC backed Flock Cover is looking to plug the gap between the sluggishness and inflexibility of traditional insurance companies and the new, versatile world of drones.
The first important step for Flock is to offer on-demand insurance. The second is that the cover is highly personalised. The app collects real-time data about you as a pilot, your drone, your location, nearby hazards, and environmental factors.
Algorithms are put to work on this data to calculate the risk factor of your flight and offer you a premium. These risks are broken down so that you understand them, and hazards are displayed on a map for safety.
With insurance premiums starting at only £5, and with the assurance of Allianz as Flock’s underwriter, the ability of this startup to give power back to drone operators not only mirrors the flexibility and freedom of drone flight, but it can save them thousands of pounds.
And we’d be willing to bet the number of operators who take their drones out without insurance will drop sharply too. Flock - We like it a lot.
If you like Drone related startups, you might also want to read about Flyte an innovative platform which is on a mission to provide “seamless flight planning for commercial drone projects” or our previous article on drone startups to watch out for.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Got a business in the manufacturing sector? These tips on how you can reduce energy costs while being more sustainable are well worth a read...

Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.

Nassia Skoulikariti, Director of IoT Programmes, Mobile Ecosystem Forum shares some insights on how IoT is having a significant impact on all our lives.

Roger James Hamilton, Founder and CEO of Genius Group, a world-leading entrepreneur Edtech and education group, discusses how introducing a globalized curriculum will help better prepare students.

SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.

41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.

Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.

Thingtrax Secures £4.3M to Empower Manufacturers to Build the Factories of the Future

A measure of inflation relief for small firms sees transport costs fall but service price increases remain elevated

Bedfordshire-based HR tech startup HR DataHub has built a range of tools for HR departments
Published on: 29th October 2017
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.







- SureIn Secures €4M to Close the SMB Insurance Gap 15th Aug 2023 Innovative InsurTech startup SureIn announces a €4M Seed round to further its mission of making insurance easy, transparent and hassle-free for SMBs.
- SuperFi raises $1M pre-seed funding round 28th Jul 2023 SuperFi, the debt prevention platform, has announced a $1m pre-seed funding round to support people during the cost of living crisis.
- Startups rely on AI & sustainability for new partnerships 27th Jul 2023 41 startups from 13 countries, including the UK, have been selected for the 8th Kickstart Innovation program, one of Europe’s leading innovation platforms.
- Another Round closes £300k Seed round to revolutionise personal training 21st Jul 2023 Personal training platform Another Round has secured £300k in its latest fundraise, including investment from angels and its community.