Invia Flights Germany Partners With Setoo
London-based Setoo announced that its platform was selected by Invia Flights Germany, an Invia Group company, to provide parametric-based insurance.
“At Invia Flights Germany we pride ourselves in offering our customers perfectly tailored solutions. Setoo’s parametric-based platform facilitates our approach, enabling us to serve our customers’ needs even better. We have implemented Setoo’s platform and began offering protections such as flight delay and cancellation. With numerous options to build and test additional new products, we provide more intelligent products within the customer journey. I’m confident we’ll enjoy enhanced brand loyalty and therefore see increased conversions.” – Invia Flights Germany CEO Balint Gyemant.
Setoo’s generic platform is IDD and GDPR compliant, allowing e-businesses to create insurance products – covered by insurance companies like AXA – without having to understand insurance regulatory requirements. Based on parametric insurance, e-businesses can create insurance products with one-click underwriting policies that are triggered automatically, dispensing immediate compensation and eliminating the need for filing claims.
“We are proud to be chosen by Invia Flights Germany and are excited to collaborate on delivering insurance and protection products that are relevant and loved by today’s consumers. Invia’s innovative and customer-centric approach is impressive, and their customers will be first to benefit from worry and hassle-free insurance products, which cover risks related to exogenous events that could ruin their customer journey.” – Co-CEO Noam Shapira.
To enable e-businesses to provide accurate pricing of insurance products, Setoo taps into external data sources and applies advanced machine learning algorithms, which learn the history of events and enable pricing per specific risk, in real time. Integrated once via a simple set of APIs, e-businesses can deliver the insurance offerings as part of the customer journey, while benefitting from agility and scalability to build and test any product, optimizing marketing efforts and ensuring maximum conversion rate.
