PrecisionHawk partners with EagleView and acquires HAZON and InspecTools

Is @PrecisionHawk a drone software company or a drones services company? CEO Michael Chasen explains at @InterDroneExpo #InterDrone pic.twitter.com/hCAjcAbhPd

— Jeremiah Karpowicz (@jeremiahkarp) September 5, 2018

PrecisionHawk, one of the names at the forefront of the drone industry, announced a new partnership with EagleView, a provider of aerial imagery and data analytics for government, insurance and commercial sectors.

Announced in 2017, EagleView OnSite solution allows the company to use drone, satellite, and fixed-wing aircraft imagery to inspect an area without leaving the office. This allows adjusters to triage claims, virtually inspect properties from their desk, and ultimately close P&C (property and casualty) claims faster and more efficiently. In the last 18 months, EagleView used the OnSite solution to process more than 25,000 claims, helping “insurance carriers transform their property claim workflows and decrease cycle time by at least 40 percent to best serve their customers after a catastrophic natural disaster”.

“EagleView OnSite provides insurance customers with all the tools necessary to settle claims without ever going into the field,” said Rishi Daga, CEO of EagleView. “As drones transform the way the insurance industry operates, making inspections safer, easier and more cost-effective, EagleView reinforces its commitment to drone technology to digitize manual workflows.”

By partnering with PrecisionHawk, EagleView will use the company’s network of certified and trained drone pilots, Droners.io, to perform high-quality insurance inspections at a competitive cost. In return, EagleView participated in PrecisionHawk’s latest round of $75 million in funding.

“To further cement our relationship, EagleView is investing in PrecisionHawk through our participation in their latest round of financing,” stated Rishi Daga, EagleView CEO. “Combining the strength of EagleView OnSite Solutions and the expertise and scale of PrecisionHawk and Droners.io, both operationally and with financial investment, will certainly help insurance carriers deliver more value to their policyholders.”

Furthermore, in another piece of news, PrecisionHawk purchased HAZON and InspecTools, two companies who specialize in the delivery of inspection services and technology for the energy industry.

Big news as @PrecisionHawk announces the acquisition of @HAZON_Solutions and Inspect Tools at @InterDroneExpo #InterDrone pic.twitter.com/jOJ8Dh7no5

— Jeremiah Karpowicz (@jeremiahkarp) September 5, 2018

“We’re focused on best reputations in the industry, and HAZON along with InspecTools have that,” Michael Chasen, CEO of PrecisionHawk, told Commercial UAV News. “We’re excited to see how this is going to open up the industry that much further for our customers help companies figure out what it means for them to transition from exploring drone technology to implementing it.”

Having delivered over 13,000 inspections totaling over 8,000 hours of flight time, HAZON offers an “extensive aviation experience, standards-based operating procedures, certified drone flight operations and inspection services”.

On the other hand, InspecTools will provide PrecisionHawk with machine vision software and data analysis tools built for the renewable energy market, and used by some of the largest equipment manufacturers and service providers in the world.

“We’re very pleased to bring together the established technology and multi-market reputation of HAZON and InspecTools with PrecisionHawk’s experience, team and expanded portfolio,” Chasen continued. “By combining these offerings, our customers will have access to extensive and leading-edge energy products and services, regulatory expertise and a record of safe, secure and compliant operations.”

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