Baloise introduces parametric insurance policies

Swiss insurer Baloise is introducing three parametric insurance coverages which offer a payout in case of flight delays, baggage delays, and bad weather.

The policies provide automatic compensation for customers if certain predefined parameters are exceeded – all without the customer having to contact Baloise.

The insurer is offering the new products in partnership with KASKO , Wetterheld and Blink Parametric.

“Parametric insurance closes gaps in coverage and offers a fully automated claims process and more proactive customer communication. We want to harness these opportunities and gain experience with this type of insurance.” – Yannick Hasler, head of Private Clients and member of the Executive Committee of Baloise in Switzerland.