An Insight into Risk at Precision Autonomy

The precision autonomy risk management framework for drones

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Here at Precision Autonomy, we think a lot about risk. Risk is an ever-changing factor in net-new markets like commercial drone operations, making it difficult to assess accurately. As our customers can attest, the real risks of flight vary dramatically, and need to be accounted for to operate safely and successfully. This is where we step in to help with our carefully developed risk management framework.

THE RISK MANAGEMENT FRAMEWORK

Our team, in conjunction with underwriters, have developed a Risk Management Framework, which uses over 500 metrics to analyze the risk profile of a given operation. This framework then accurately prices the value of the risk, which is charged to the operator on a per-minute rate.

Worried about risk to your drones on the ground? Don’t worry, we have you covered! When your fleet is grounded, your annual base policy protects you against damage to your equipment and business liability. However, the moment you take to the skies, where the risks are much greater, your coverage increases to match those risks.

REWARDING A PROVEN TRACK RECORD

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Over time, our Risk Management Framework rewards our safe operators. With a proven track record, backed by our data intelligence, pilots who demonstrate safe flight operations are charged a lower per-minute premium.

This framework considers the human component in autonomous technology, bringing us a step closer to realizing our vision of accelerating the safe adoption of unmanned vehicles.

Want to learn more about risk management? Visit us at www.precision-autonomy.com, or send us an email at connect@precision-autonomy.com. Or for a drone insurance quote, head over to our website here, and get your free quotation today.

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