Although blockchain is not required for the automation of the claiming process, we chose to build our solution around it because of its well-known features like transparency, security and inalterability. Our aim is to use cutting edge technologies to make our products futureproof.
Parametric insurance or index insurance is a non-traditional insurance product that offers pre-specified payouts based upon a predefined trigger event.
Our API endpoints is a lightweight IT task for the partners, With our ready-to-go products, it can be as short as a matter of weeks depending on the IT capacity of the partners. Once we receive the flight number and based on the flight data we handle the outcome.
With parametric insurance, we always aim to fully automate the claims process. so, once we detect a flight is canceled or delayed the customer automatically receives the payment with no paperwork or administration required.
We use multiple data sources that are compared to determine the status of a flight for the most accurate result.
Customers don’t need to manually submit a claim. Our automated validation processes enable us to compensate the policyholders in case of an insurance event without the need of manual input. In some cases it only takes a matter of minutes.
Yes! Our solutions comply with the European Union’s GDPR requirements.
Insurance companies and third parties (ex; insurers, brokers, online travel agencies) for now. And in the near future we will be open to collaborate with the Airlines, aggregator sites for travelers. We are open to any collaboration with the companies which offer a peace of mind solution to their customers.
Insurance and statutory compensation(by EU law) are not identical services. Our flight disruption solution provides additional insurance compensation for the travelers when they need it.