As the travel industry continues to grow, so does the need for insurance. In fact, according to Market Research of Allianz Partners, the insurance travel sector grew by 30% in 2023 and 50% in the first few months of 2024. With these numbers in mind, it’s no surprise that startups like FlexMyRoom are making waves in the industry.

FlexMyRoom is a technology startup that specializes in embedding travel insurance into the hotel booking process. With 435 hotels accumulated, 15,000 reservations, and 40,000 guests during the slowest season of the year, FlexMyRoom has already transacted 25 million euros. And with metrics indicating potential growth during the first half of the year, the startup is projected to reach 100 million euros in transaction volume, more than 500 accumulated hotels, 55,000 secured reservations, and 150,000 guests.

These numbers are a testament to the growing demand for travel insurance. In fact, 55% of Spanish travelers intend to purchase travel insurance, according to FlexMyRoom. And with the global travel insurance market expected to reach over 24 billion euros in 2024 and over 43 billion euros in 2032, the potential for growth in the industry is enormous.

FlexMyRoom’s success is due in part to its innovative approach to insurance distribution. By embedding insurance into the hotel booking process, the startup is redefining the industry and generating new standards. And with a goal of transacting over 240 million euros, accumulating 600 hotels, securing over 125,000 reservations, and accommodating over 330,000 guests by the end of 2024, FlexMyRoom is poised to continue leading the way in the insurtech and traveltech sectors.

But why is embedded insurance so important? For one, it provides peace of mind for travelers. With the potential for unexpected events like flight cancellations, lost luggage, and medical emergencies, having insurance can make all the difference. And by embedding insurance into the booking process, travelers can easily purchase coverage without having to navigate a separate website or provider.

Embedded insurance also benefits hotels and other travel providers. By offering insurance as part of the booking process, hotels can increase revenue and provide a more comprehensive experience for guests. And with the potential for increased customer loyalty and satisfaction, hotels can build a stronger brand and reputation in the industry.

At Riskwolf, we understand the importance of embedded insurance in the travel industry. That’s why we offer unique real-time data and dynamic risk modeling to enable insurers to build and operate parametric insurance at scale. With our technology, insurers can turn real-time data into insurance and provide peace of mind for travelers and travel providers alike.

In conclusion, the travel industry is growing, and so is the need for insurance. Embedded insurance is an innovative approach to insurance distribution that benefits travelers, hotels, and other travel providers. And with startups like FlexMyRoom leading the way, the potential for growth in the industry is enormous. To learn more about embedded insurance and how Riskwolf can help, visit our website and get in touch with us today.

Source: FlexMyRoom prevé cerrar el primer semestre con más de 100 millones de euros en reservas