ParaZero Limited has partnered with SkyWatch.AI Drone Insurance. The companies have teamed up in order to further benefit safe pilots who take extra measures to reduce drone risks. Pilots with ParaZero's SafeAir system can now share their flight data with SkyWatch.AI and receive a higher Safety Score that will provide them with a unique reduced rate. The collaboration will enable drone pilots using the SafeAir Parachute to receive reduced rates on their drone insurance. The collaboration between ParaZero and SkyWatch.AI will help drone operators mitigate risk through the ASTM compliant ParaZero system, reduce their insurance costs with SkyWatch.AI,and also apply for a Flight Over People waiver with the Federal Aviation Administration (FAA). This partnership brings with it added value to drone operators and is another great advancement in the development of the commercial drone ecosystem. There is a binding memorandum of understanding (MoU) with no fixed term or termination clauses relevant to this collaboration. In October this year ParaZero announced it had secured firm orders of USD 235,000 from international drone manufacturers for custom parachute systems from drone manufacturers looking to deploy the technology in congested and populated environments. ParaZero's SafeAir Systems support DJI Mavic and Phantom drone models, use independent computer and sensors to detect critical failures in real-time, stop the rotors, deploy a parachute, and bring down the drone at reduced energy, and enhanced safety. The FAA has granted more than 40 waivers for companies including CNN, Fox News, Verizon Media, Hensel Phelps, North Dakota Department of Transportation for drone operations over people. The systems have been thoroughly tested in real life flight failures and are compliant with ASTM F3322-18. The purpose of the collaboration is to cooperate both in referring business to each other and to enhance brands and positioning by co-marketing activities and added value toboth companies customers. The collaboration has no term and can be terminated by either party giving 30 days' notice.