The “Netflix for Insurances” is Getting Ready for #Launch2.0

Remember Flink?

Refresher: Flink is a Swiss insurance startup powered by Helvetia that offers property (up to CHF 100,000 per person) and liability insurance for individuals that can be activated and deactivated monthly. It started as an internal project in late 2016. Aside from its online interface, the startup leverages technology to mitigate fraud. Coverage purchase is handled online, while claims are handled via phone; though the startup has plans to digitize the claims process. Here’s how it works: customers pay premiums (via credit cards only). Flink uses 70% of the premiums to cover the damages and collects the remaining 30% for itself. Whatever is left of the 70% premiums collected – after all losses were accounted and paid for – will be distributed to policyholders.

Two things to note. One. Flink is planning to launch on-demand insurance for motorcycles. Two. Flink is gearing toward #Launch2.0 . To be continued Jan. 4th. In the meantime, here’s a sneak peek from the one that considers itself the ‘Netflix for insurances’:

 

Note: Update from Flink: