Starr Insurance Companies has announced the launch of Starr Gate, a “first-of-its-kind” general aviation policy for pilots.
The new scheme is set to provide pilots who rent aircraft with an “unprecedented flexibility” through “high-definition underwriting” and usage-based pricing.
The insurance giant said that pilots did not have real flexibility in their insurance coverage until now, and often paid for coverage that they did not need.
The leading aviation insurer said it has now established a way for pilots to pay for coverage based on when they are flying. The program includes the ability to access CloudAhoy, a third-party, cloud-based pilot analytics tool, for a potential discount on the premium.
Starr Gate customers will receive personalized access to the CloudAhoy scoring at no additional cost, which will “match their performance” with thousands of other pilots.
Maurice R. Greenberg, chairman and CEO of Starr Insurance Companies, said: “This product is a significant innovation for Starr.
“For the thousands of pilots around the U.S., it’s a smarter way to get coverage. We’re leveraging technology to enhance safety and tailor coverage to match the market’s actual needs.”
Jim Anderson, senior vice president of Starr Aviation, said: “Starr Gate is better aligned with a pilot’s skills and flight time. With CloudAhoy data, we can write coverage in high definition. It’s customized insurance that can make you a better pilot.
“Giving pilots the flexibility to buy on-demand coverage could not have come at a better time as we begin to emerge from this public health crisis.”
He added: “Qualified pilots can obtain coverage for when they fly. If you’re not flying now, apply for the coverage you need when you do start to fly again.”
Chuck Shavit, the creator and CEO of CloudAhoy, said: “Using data-driven technology to provide quantitative, objective feedback to pilots has always been part of our vision.
“We are delighted to see it used in a positive way to reward pilots, and to promote safety and proficiency.”
Starr Gate is available now directly to pilots through aniPad app, as well as through insurance brokers.