Travellers can sometimes face disruptions such as lost baggage, flight delays, car rental hiccups and bad weather. To help them more effectively manage these scenarios, Amadeus and Setoo, the award-winning insurance-as-a-service platform, have partnered to offer personalised insurance products to travellers starting in nine markets (France, Spain, Italy, UK, Germany, Netherlands, Luxemburg, Belgium and Austria). Travel agents using the Amadeus Travel Platform will be able to request custom-built insurance to protect their customers from disruptions that may arise throughout their trip.
On top of traditional products such as medical protection or luggage loss, Setoo’s solution provides travellers with parametric insurance products such as rainy day or stormy weather forecast, ski guarantee, flight delays and others. Setoo works with and monitors various external data sources in order to understand if an insurance product needs to be activated. If so, Setoo will directly contact policyholders via SMS informing them they are eligible for compensation and will deposit the funds back onto their credit card. This process avoids the need for consumers to go through the often cumbersome process of submitting a claim.
Offering flexible protection to travellers
If travel agents know that a traveller is visiting a destination during rainy season, they can offer multiple weather protection insurance options. Furthermore, travel agents will be able to provide input on the needs of their customers and Amadeus can quickly roll out to the market new types of insurance based on this feedback, using Setoo’s expertise.
“Our partnership with Amadeus will allow travel agents to provide personalised and innovative insurance products that tap into their consumers’ concerns. The parametric insurance products that are part of the portfolio represent the most sophisticated type of products today. Backed by Amadeus' reach in the industry, our protection-as-a-service platform will empower travel agents to offer travellers a secure customer journey." said Noam Shapira, Co-CEO and Co-founder, Setoo.
“At the time of booking, the Setoo platform will offer a wide choice of insurance options to meet varied trips and needs. We already have a robust portfolio of insurance products for the travel industry. Thanks to this partnership, we will be able to expand to new channels, such as offering a car-hire insurance option on CheckMyTrip. Based on feedback from travel agents, we can leverage Setoo's unique AI capabilities to quickly launch insurance products that meet travellers' needs," added Peter Altmann, Head of Mobility & Insurance, Hospitality, Amadeus.