Skyrisks Ltd. is set to launch as a managing general agent, partnering with capacity provider Convex Group Ltd., aiming to address the fast-growing insurance needs of the advanced air mobility (AAM) sector.
The AAM sector embodies the future of aviation, leveraging revolutionary new aircraft, such as the new breed of electric vertical takeoff and landing (eVTOL), and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.
Incorporated in January, London-based Skyrisks plans to offer comprehensive insurance products for AAM businesses in partnership with Convex. AAM businesses have diverse insurance needs including hull all-risks, third party liability, passenger & crew liability, premises, products & hangar-keepers liability, and other coverages.
Skyrisks announced the appointment of Alistair Blundy, a specialist aviation underwriter with Allianz Global Corporate & Specialty (AGCS), to chief executive officer upon his completion at AGCS.
“The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter, and more affordable alternative to conventional platforms. Skyrisks is committed to driving global sustainability action in aviation, which today accounts for 2% of global emissions,” said Blundy.
“Tackling the enormous challenges of sustainability and safety in aviation are among the greatest responsibilities of the insurance market. It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem,” commented Michael Hansen, head of Aerospace at Convex.
Skyrisks said it will seek to achieve a market leadership position once it is fully operational by providing innovative risk management to the AAM sector through development of bespoke policy forms and coverages, granular pricing models, and proactive targeted underwriting appetite.
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