The first-of-its-kind drone insurance platform, offering 24/7 ground and usage-based flight coverage solutions for drones, sensors and essential flight equipment, is underwritten through Liberty Specialty Markets
Chapel Hill, NC (June 28, 2018) — REIN, an insurtech company focused on creating new insurance solutions around the emerging risks posed by robotics, mobility and online ecosystems, is announcing the launch of its first digital portal, DroneInsurance.com. It provides a smart and paperless drone insurance experience, offering dynamic policy solutions to address the unique risks, pain points and insurance needs of commercial drone operators.
DroneInsurance.com is an automated platform that lets commercial drone operators safeguard their business and self-manage coverage solutions online. For a monthly amount per drone, businesses can protect their ground operations. Then, operators can purchase flight liability coverage on-demand, for as little as a day, or as long as a year, with a range of limits.
“This product is about empowering commercial drone operators,” said Christopher Dean, CEO at REIN. “From higher liability limits for episodic flight coverage to sensors and physical damage coverage options, our product aims to solve the unmet needs in the commercial drone insurance industry. Our platform will enable the industry to grow with the dynamic and evolving drone use cases and their emerging risks.”
Underwritten through Liberty Specialty Markets, DroneInsurance.com’s offerings are now available in selected States of the United States1 via an intuitive web and mobile-ready dashboard.
“At Liberty Specialty Markets , we have a chance to match REIN’s market-leading technology, distribution system and data proficiency with innovative insurance policies to create a best-in-class solution for the drone market,” said Mike Gosselin, Chief Underwriting Officer, Liberty Specialty Markets. “Technology is rapidly changing the insurance landscape, so partnering with REIN to launch DroneInsurance.com makes perfect sense to meet this increasing demand.”
To learn more, visit DroneInsurance.com.
1DroneInsurance.com is now available throughout the United States except NY, KY, IL, WV and MN. Insurance services are provided by Acend Insurance Solutions, LLC (“AIS”), a licensed surplus lines producer in all 50 U.S. States. AIS operates in California under license No. 0L70741. Additional licensing information is available at DroneInsurance.com.
Cutting-edge technology demands cutting-edge coverage. Powered by REIN’s insurtech platform, DroneInsurance.com replaces paperwork and complexity with data-driven automation and user control to offer on-demand insurance coverage solutions designed to address the unique risks, pain points and coverage needs of commercial drone operators. REIN was founded in 2015 and is located in Maynard, MA and Chapel Hill, NC. REIN’s wholly owned subsidiary, Acend Insurance Solutions, LLC is a licensed surplus lines producer in all 50 U.S. States and provides insurance services. For more information, visit REIN.ai and DroneInsurance.com.
REIN is an insurtech company creating new, custom-made insurance technology products around the emerging risks in mobility, robotics and online ecosystems. In a time of evolving risks, changing customer behavior and unprecedented demand for speed and simplicity in insurance products, REIN uses data, machine learning and modern tools to help companies bring new insurance products to market faster. Founded in 2015, REIN has offices in Chapel Hill, NC, Maynard, MA and Halifax, NS. REIN’s wholly-owned subsidiary, Acend Insurance Solutions, LLC, is a licensed surplus lines producer in all 50 U.S. States. REIN’s first insurance product will be available through www.DroneInsurance.com.
About Liberty Specialty Markets
Liberty Specialty Markets offers specialty and commercial insurance and reinsurance products across key UK, European, Middle East, US and other international locations. We provide brokers and insureds with a broad product range through both the Company and Lloyd’s markets and have approximately 1,000 employees in 22 offices.
You can learn more by visiting www.libertyspecialtymarkets.com.
About Liberty Mutual Insurance
Liberty Mutual’s purpose is to help people embrace today and confidently pursue tomorrow. The promise we make to our customers throughout the world is to provide protection for the unexpected, delivered with care.
In business since 1912, and headquartered in Boston, Mass., today we are a leading global insurer with operations in 30 countries and economies around the world. We are the third largest property and casualty insurer in the U.S. based on 2017 direct written premium data as reported by the National Association of Insurance Commissioners. We also rank 68th on the Fortune 100 list of largest corporations in the U.S. based on 2017 revenue. As of December 31, 2017, we had $39.4 billion in annual consolidated revenue.
We employ nearly 50,000 people in over 800 offices throughout the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, commercial multi-peril, property, general liability, commercial automobile, surety, workers compensation, specialty lines, and reinsurance.
You can learn more about us by visiting www.libertymutualinsurance.com.
*The information contained herein is for general informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any product or service. Any description set forth herein does not include all policy terms, conditions and exclusions. Bound insurance policies, rather than summaries thereof, govern. Not all insurance coverages or products are available in all states and policy terms may vary based on individual state requirements. Some policies may be placed with a surplus lines insurer. Surplus lines insurers generally do not participate in state guaranty funds and coverage may only be obtained through duly licensed surplus lines brokers