Here is a recent article with a fair and balanced comparison of traditional annual policies and Verifly’s on-demand solution. Stating that “comprehensive coverage has been available for five years” is like saying there were search engines before Google, taxis before Uber and Hailo, and cellphones before the iPhone.
Pilots love Verifly because it offers them undeniable advantages and flexibility over annual policies such as:
- Superior economics: Most pilots are building their businesses and use several drones (Verifly allows the use of any drone under 15lbs — annual policies only cover a specific drone). They are buying insurance because clients request it and they don’t want to pay for time the drone isn’t flying. The zinger is that only on-demand policies issued for a specific job are often expensed back to the client, making it effectively costless to the operator.
- Instant approval: Verifly is download and go — we only require a credit card for payment. Annual policies reject 95% of applicants (for data on this see slide three “Who We Insure”) and the application process is cumbersome and lengthy. We know you have better things to do.
- Download and Go: We’re an app — available on the App Store and Google Play. No fuss.
Finally, all policies are underwritten by Global Aerospace, a top aviation-focused insurance provider. The policy Verifly delivers has been developed from scratch to be specific to drones and on-demand and has been approved by regulators in all territories in which we operate.
Verifly is fast-becoming an authority on drones and insurance. Today’s featured New York Times article ends with a quote from one of our founders and we have been on Bloomberg to discuss our launch and Part 107.