“AGCS recognizes the incomparable value that ParaZero brings to the table in an effort to carefully manage risks involved with the operation of drones,” commented Aviation Practice Leader and drone expert James Van Meter. “By prioritizing drone safety technology, we are supporting innovation to help clients mitigate risks and keep everyone safer.”
The ParaZero SafeAir™ recovery system has been proven to 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).
“Commercial drone use is getting more creative than ever before,” stated ParaZero CEO, Eden Attias. “This partnership helps to provide safety options to our already vast and growing client base.”
“Most accidents occur when a drone loses power or experiences critical flight breakdown and a pilot is limited in their options to prevent damage to the craft, surrounding area and people on the ground,” added Van Meter. “This forward-thinking partnership exemplifies our commitment to safety, client satisfaction and the exponential growth of the UAS industry.”
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.
Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.
Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.
We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.