Flex, which is available on global travel platforms such as Secret Escapes, Central De Reservas, Love Holidays and Prestigia, gives travellers a flexible and innovative travel solution whereby machine-learning algorithms evaluate and price individual protection requests from OTA partners – allowing Roomer to consider additional parameters (which until today have not been accounted for at the time of booking) and providing travellers the ability to amend and cancel their hotel bookings up to 24 hours before check-in and get a full refund, ‘no questions asked’.
Gon Ben-David, CEO and Co-Founder of Roomer, commented: "We found at Munich Re an agile and open-minded team that understands our unique needs. I am convinced that now after giving flexibility to almost 150,000 travellers worldwide, this co-operation will enable Roomer to further expand its business globally.”
After analysing the risks and challenges, Munich Re has developed an insurance solution that protects Roomer against large unexpected payouts, which are not predictable even with the machine learning algorithm, that may result, for example, from severe weather conditions. This insurance is underwritten by a primary insurance carrier of Munich Re.
“There are many more verticals within the travel industry that face similar unsolved challenges,” added Ben-David. “We are excited to continue the partnership and to further explore opportunities to protect travellers and create value for the entire travel industry."