Flock has worked with automated drone solutions provider Lorenz Technology to create a unique, fully flexible insurance policy for Lorenz’ drone fleet, allowing the company to align insurance costs with activity while gathering insights on how to further improve safety standards.
Crucially, Lorenz’s AI technology has been classified as a pilot for the purposes of this policy. This means that as the edge-computer gains more in-flight experience and learns how to increase safety standards, the cost of insuring the system will reduce.
Lorenz Technology makes intelligent drone solutions for industrial ports and the security industry, and is currently operating across Denmark, UK, Germany, and Belgium. The Lorenz AI-Link embedded edge-computing platform allows off-the-shelf drones to harness artificial intelligence-powered autonomy and intelligence to provide high-precision navigation capabilities.
The system is connected through 4G to the Lorenz Hive, a web interface that allows mission planning, preprogramming of routes and administration of all data from flight logbooks to sharing recorded data in real-time. Lorenz AI-Link also documents and saves all flight data automatically, meaning any organisation using the platform will be able to easily access exposure-based insurance policies from Flock. The cloud platform allows ports and maritime facilities to integrate drones into their operations as strategic tools for visual data collection.
Lorenz Technology’s customers currently include Port Esbjerg, G4S and Heliguy. The company seeks to expand the use of drones to provide visual data in the maritime industry, as well as services in the field of security and facilities management.
Flock’s fundamental approach to exposure-based insurance is quickly earning it a reputation as a leading insurer for the autonomous technology and robotics industries. Its customers now include leading UAV (unmanned aerial vehicle) operators including Terra Drone, Skyports and Hummingbird Technologies.
Anders Olsen, COO of Lorenz Technology, commented: “Flock is the perfect insurance partner. Lorenz Technology needed a flexible policy where the price is based on our actual exposure to risk during our flights. This allows us to align our costs with our commercial activity.”
“This data-driven approach to insurance is helping support the growing enterprise drone market where pilots, drones and activities change rapidly. Working with Flock our insurance costs are determined based on everything from pilot experience to weather conditions and population density.”
“With the Lorenz AI-Link now classified as a pilot, we’re continuously accumulating flight hours which will not only benefit us in the form of lower risk and lower insurance fees but it will benefit any of our new and existing customers that choose to work with Flock as their insurance provider.”
Sam Golden, Head of Sales and Marketing at Flock, said: “The work Lorenz is doing to lower the barriers to entry for any industrial facility or port looking to use drones is incredibly impressive. The combination of artificial intelligence, edge-computing and unmanned aerial systems is unlike anything I’ve seen before.”
“Lorenz AI-Link may be the world’s first fully insured robot pilot but one day this technology will be everywhere. It will transform how we live, work and play. We look forward to supporting the team at Lorenz Technology for many years to come as they continue on their mission to make all drones fly autonomously.”
