Are you tired of dealing with delayed flights and lost luggage when traveling? As an insurance executive, you know that these issues can cause stress and frustration for your customers. But what if you could offer real-time travel assistance solutions through your insurance app? With parametric insurance, you can do just that.

Recently, Gigasure, a newly launched travel insurance provider, partnered with Blink Parametric, a leading InsurTech company, to provide real-time travel assistance solutions through its app. This collaboration aims to streamline travel insurance for customers by offering personalised, real-time solutions for flight and luggage delays. With Blink Parametric’s technology integrated into the Gigasure app, policyholders can access immediate benefits that address the inconvenience of delayed flights or lost luggage.

Here are five steps to provide real-time travel assistance with parametric insurance:

1. Partner with a parametric insurance provider: To offer real-time travel assistance, you need to partner with a parametric insurance provider like Blink Parametric. They specialize in delivering automated, real-time travel solutions, enhancing the customer experience by ensuring that claims are processed efficiently.

2. Integrate parametric insurance technology into your app: Once you have partnered with a parametric insurance provider, you need to integrate their technology into your app. This will allow policyholders to access immediate benefits that address the inconvenience of delayed flights or lost luggage.

3. Offer personalised, real-time solutions for flight and luggage delays: With parametric insurance, you can offer personalised, real-time solutions for flight and luggage delays. For example, Blink Parametric’s Flight Delay service activates automatically when a flight is delayed by three or more hours, offering options such as access to over 1,300 executive airport lounges or a real-time cash payout. For luggage delays, a one-time payment is issued to help cover expenses while the luggage is located.

4. Tailor coverage based on individual needs and budget: To provide the best customer experience, you need to tailor coverage based on individual needs and budget. Gigasure, for example, focuses on offering fully customisable travel insurance policies, enabling customers to tailor their coverage based on individual needs and budget.

5. Provide peace of mind: By offering real-time travel assistance solutions through your app, you can provide peace of mind to your customers. They will know that they can rely on your insurance to help them in moments of unexpected disruption.

With Riskwolf, you can turn real-time data into insurance. Using unique real-time data and dynamic risk modelling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast. Get in touch with Riskwolf to develop parametric insurance for your travel insurance policies.

Read the original article here: https://fintech.global/2024/08/20/gigasure-partners-with-blink-parametric-to-offer-real-time-travel-assistance-via-new-app/