CPP Group launches parametric lost luggage product

CPP Group , the MGA and ancillary insurance products and services provider, is partnering with travel insurance provider Just Travel Cover to launch ‘Smart Luggage’ – the UK’s first parametric lost luggage product.

The product uses parametric technology to offer real-time support to airline passengers whose checked luggage cannot be located following an airport arrival. Customers upload an image of their delayed luggage receipt, and the platform will begin searching for the missing checked luggage. Customers will receive an automatic £50 pay-out, directly to their PayPal or bank account after 30 minutes of their luggage being unlocatable at the destination airport, and a further £500 if it is still not located after 48 hours.

The parametric technology automates the entire process from the moment the traveler registers their luggage as missing at the customer services desk at the destination airport. The repatriation service of Smart Luggage keeps the customer informed via text message and email to help locate and return the luggage.

The technology is delivered by Blink Parametric , which is part of CPP Group. It is available as an annual multi-trip and singular policy and distributed as a standalone product, add-on, or embedded insurance product.