Today, Starr Insurance Companies announced the launch of Starr Gate, a new kind of general aviation policy providing pilots who rent aircraft with unprecedented flexibility for their insurance needs through “high-definition underwriting” and usage-based pricing with a tool that can also improve a pilot’s skills.
Until now, pilots did not have real flexibility in their insurance coverage and often paid for coverage they didn’t need. Now, Starr, a leading aviation insurer, has established a way for pilots to pay for coverage based on when they are flying. The program includes the ability to access CloudAhoy, a popular third-party, cloud-based pilot analytics tool, for a potential discount on the premium.Fintech News
“This product is a significant innovation for Starr,” said Maurice R. Greenberg, Chairman and CEO of Starr Insurance Companies. “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.”
Starr Gate customers get personalized access to CloudAhoy scoring, at no additional cost, that can help them become better pilots by matching their performance — from wheels up to wheels down post-flight — with thousands of other pilots.
“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,” Anderson said. “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.”
Starr Gate is available now directly to pilots through a convenient iPad app, accessible in the Apple App Store, as well as through insurance brokers.
“Using data-driven technology to provide quantitative, objective feedback to pilots has always been part of our vision,” said Chuck Shavit, the creator and CEO of CloudAhoy. “We are delighted to see it used in a positive way to reward pilots, and to promote safety and proficiency.”