Chubb Launches Flight Delay Insurance
In partnership with Swiss Re and FlightStats, Chubb announced the launch of Flight Delay Insurance, a new product for Australian residents that offers fixed compensation when flights are cancelled, diverted or delayed.
Available through the Chubb Connect App, which is powered by United Networks, an Australian global connectivity, engagement and payments platform provider, travelers can purchase insurance while also enjoying additional in-app services such as access to a network of global Wi-Fi hotspots and SOS alerts.
Travelers can choose between three policies – 30, 60 and 90 minutes to receive a payout of $100. In case of an incident, Swiss Re validates the case in real-time using FlightStats, a provider of real-time global flight data. Once confirmed, United Networks will pay the amount directly into the customer’s PayPal account without the need to obtain any reports from the airline to file a claim. In one word – parametric.
“Flight delays continue to be the top incident disrupting travel plans for today’s travelers. With more air travel, Chubb recognises their need for tailored insurance protection and efficient service. Flight delay insurance is timely in meeting the demand for relevant and affordable insurance. Without the need to file a claim or submit the supporting documents to prove a flight delay, Chubb offers an enhanced customer experience in our digitised world.” – Head of Travel Insurance at Chubb Asia Pacific, Donna Dorairajoo.
“We are excited to be able to work with Chubb and Swiss Re to innovate and drive the insurance digital revolution. Our leading global connectivity, engagement and payments platform will streamline uptake, sale, onboarding and the automated claims process. The Flight Delay Insurance has been integrated into the global connectivity and SOS alerts app allowing customers to purchase through the Chubb Connect app and receive updates on flight delay status.” – CEO United Networks, Nicholas Ghattas.
“Our flight delay solution brings much-needed transparency and simplicity to consumers. Swiss Re’s unique dynamic pricing and end-to-end solution helps insurers and aviation partners speed up their time-to-market and steer their businesses real-time.” – Head of Parametric & Emerging Solutions at Swiss Re, Gianni Biason.