NEW YORK--(BUSINESS WIRE)--Starr Companies today announced an agreement with SkyWatch, a data analysis, risk assessment, and active risk-reduction platform for the drone industry. The agreement will offer qualified unmanned aerial vehicle (UAV) operators the ability to secure insurance “on demand” for each flight. Insurance costs can be reduced with telematics over time, allowing UAV operators to put safety in alignment with their operational needs.
“The use of UAVs is growing rapidly. SkyWatch allows qualified UAV operators to easily secure quality insurance coverage which is essential for any business. SkyWatch delivers the ability for Starr’s aviation business unit to easily obtain the proper data which can be used for better insights on the unique risk a UAV presents,” stated Steve Blakey, president and chief executive officer, Starr Insurance Holdings, Inc. “We believe that SkyWatch brings a fresh approach to how insurance operates, and their safety solutions put them at the forefront of the industry.”
About Starr Companies
Starr Companies (or Starr) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C. V. Starr & Co., Inc. and its subsidiaries. Starr is a leading insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance. Starr’s insurance company subsidiaries domiciled in the U.S., Bermuda, China, Hong Kong, Singapore and U.K. each have an A.M. Best rating of “A” (Excellent). Starr’s Lloyd’s syndicate has a Standard & Poor’s rating of “A+” (Strong).