Insurtech startup Cuvva, which is based in the UK, has launched a new single trip travel insurance product through its mobile app.
The new offering came about after the company conducted research that found that those aged 18-34 would be more likely to purchase travel insurance if it was cheaper, policy wording was easier to understand, and forms were simpler and less long-winded to complete.
“Cuvva is thrilled to be expanding its offering with the launch of travel insurance. We’re modernising insurance by building flexible products that can be bought in a few minutes on mobile and that are solving actual customers’ needs,” said Founder of Cuvva, Freddy Macnamara. “Selling a product to a customer who doesn’t fully understand what they are purchasing is completely counter-intuitive. Insurers make travel insurance unnecessarily complicated, which deters consumers, especially Gen Z and millennials. This results in so many unprotected holidaymakers travelling abroad. Insurance fit for the 21st Century is insurance that is simple to understand and simple to purchase.”