AXA Launches Next-Gen Parametric Insurer Called Fizzy

French insurer AXA announced the launch of Fizzy, a flight delay product that kicks in if one’s flight is delayed by at least two hours . Oh, and it processes payments using ethereum blockchain. This is Fizzy:

Good to Know:

– Fizzy is available via web or mobile, and can be purchased once flight is booked, up to 15 days prior to departure.

– The offer currently applies for flights between Paris and US:

– Customers will know how much they will be compensated before they purchase coverage (file under ‘transparent’):

– Payments and compensation data are stored in a blockchain

Bottom Line: “Fizzy. Learn to love delay.” Currently in beta.