Allianz Global Corporate & Specialty to Offer Drone Safety Products Through ParaZero

April 27, 2018 - Allianz Global Corporate & Specialty (AGCS) has partnered with Israel-based drone safety systems company ParaZero to offer its drone-safety products to insureds and help them manage risks involved with the operation of drones.

This partnership is scheduled for initial roll out in the U.S. market followed by other regions where AGCS insures unmanned aircrafts; pricing incentives and preferential conditions will be offered for those using ParaZero products.

Founded in 2014, ParaZero specializes in designing, developing and manufacturing safety products for commercial Unmanned Aircraft Systems (UAS) operators.

Specifically, ParaZero’s drone safety system, SafeAir, uses an onboard computer paired with a pyrotechnic parachute launcher to enable deployment upon flight malfunction. The safety package monitors key flight parameters and when critical failures are identified, a parachute and audio warning system are triggered to help protect not only the drone and the weight it can carry (payload), but also vulnerable bystanders in the area.

The ParaZero SafeAir recovery system can be effective across a large spectrum of emergency situations. Upon identifying flight malfunction, it deploys a parachute, stops the rotors, reduces drone speed and emits a loud notification sound to alert bystanders of the aircraft’s controlled descent; for example, the rapid descent of a large 750 lb. (350kg) drone could be stopped in approximately 30 feet (10 meters).

AGCS North America provides comprehensive hull & liability coverage for all manner of unmanned aircraft risks; it insures thousands of drone operators who use the aircraft for aerial data collection, closed set filming, delivery and public safety. AGCS continues to develop new products to meet the coverage needs of this rapidly evolving industry.