Through the use of Setoo’s platform, Invia Flights will provide parametric insurance options alongside its other e-commerce offerings. The strategy is part of the company’s ongoing plans to differentiate its customer journey and – it is hoped – accelerate its business by moving to meet the evolving needs of increasingly demanding customers.
“We pride ourselves in offering our customers perfectly tailored solutions,” said Balint Gyemant, CEO of Invia Flights Germany. “Setoo’s parametric-based platform facilitates our approach, enabling us to serve our customers’ needs even better. We have implemented Setoo’s platform and begun offering protections such as flight delay and cancellation. With numerous options to build and test additional new products, we provide more intelligent products within the customer journey. I’m confident we’ll enjoy enhanced brand loyalty and therefore see increased conversions.”
Setoo’s platform is compliant with both GDPR and IDD, which means that e-commerce outlets can create and sell insurance products without having to have a thorough grounding in insurance regulatory requirements. Policies can therefore be developed with one-click underwriting and automatic triggering, with compensation delivered immediately, removing the requirement for claims to be filed by the policyholder.
“We are proud to be chosen by Invia Flights Germany and are excited to collaborate on delivering insurance and protection products that are relevant and loved by today’s consumers,” said Noam Shapira, co-CEO at Setoo. “Invia’s innovative and customer-centric approach is impressive, and their customers will be first to benefit from worry and hassle-free insurance products, which cover risks related to exogenous events that could ruin their customer journey.”