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Tokio Marine launches online drone insurance platform

Posted On: Jan. 23, 2017 1:50 PM CST

London-based Tokio Marine Kiln Group Ltd. on Monday said it has added unmanned aerial systems insurance to its One TMK digital exchange.

The product allows brokers to quote and bind drone policies online in real time from anywhere in the world, Tokio Marine said in a statement.

The One TMK digital exchange was launched in July 2016 with the aim of lowering transactional costs for brokers and enabling them to provide a more efficient service. The exchange features TMK’s cargo insurance product Cargo10, which enables brokers to secure coverage after completing 10 questions, Tokio Marine said.

“UAS, more commonly known as drones, are playing an increasingly important role in the world and they’re a class of business we’ve been pioneering for a number of years,” James Walker, head of aviation at Tokio Marine, said in the statement. “We are delighted to be able to offer efficiencies and cost savings to our clients and broking partners by distributing our enhanced coverage through the One TMK platform.”