Collinson, a global leader in customer benefits and loyalty, and Starr Insurance have collaborated to distribute a real-time parametric travel disruption insurance product.
The innovative solution, known as SmartDelay+, is aimed at addressing the increasing stress and anxiety experienced by airline travellers due to flight delays.
The collaboration aims to expand the distribution of the product beyond the UK and Europe, where it already has a significant client base and track record, to the US market, addressing the needs of travellers as air travel returns to pre-pandemic volumes.
As part of the partnership, Starr Insurance will provide insurance capacity for SmartDelay+ in the US and distribute the product to its own customers, to improve the customer experience on flight days.
Developed by Collinson, the solution is a proprietary end-to-end solution that offers customers various benefits during flight disruptions, including access to airport lounges, discounts at dining establishments, spas, and automated cash compensation.
Since its inception in 2017, the product has evolved into a parametric insurance offering, with coverage in 35 countries and over 6m customers.
Lawrence Watts, Chief Executive Officer, Insurance, at Collinson, stated, “Starr is a key player in the US insurance market and we are excited to work with them to distribute our SmartDelay+ proposition across the US to provide an immediate benefit when the customer needs it most. With travel returning to pre-pandemic volumes and growing, flight disruption is inevitable, so there is no better time than now to broaden the distribution of this truly parametric insurance product beyond UK and Europe where it already has an impressive client base and track record.”
Michael Grossman, Vice President A&H, at Starr Insurance, added, “We know travel conveniences are growing in importance for our customers. Starr has teamed up with Collinson to help mitigate the stressful experience of delayed flights. Our customers can now travel knowing that with just a few clicks, they can wait for their delayed flight in the comfort of a lounge or receive an immediate cash settlement they can use while they wait, or anytime they wish. We’re both working to make air travel a more enjoyable experience. Starr Insurance is delighted to offer SmartDelay+ to our customers, bringing them some additional comfort, and less stress during their travels.”
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