Baloise Parasurance – risk free traveling with our parametric vacation insurance Qorus Innovation in Insurance Awards 2024

Going on vacation is something most of us look forward to already way in advance. We plan our trip and imagine how nice it is going to be. However, sometimes reality is not in our favor and certain inconveniences may happen while we are travelling. For example, the flight to our chosen destination may be delayed or upon arrival the luggage is delayed, and we need an immediate solution. In addition, once leaving the airport behind and arriving at the vacation destination, the weather may be unfavorable, and rain prevents us from fully enjoying our holidays.

With Parasurance, we thought about all these inconveniences and provide insurance coverage for these unfortunate events. With our flight delay, we compensate customers based on the number of hours they had to wait for their departure. The luggage late coverage complements this offer and indemnifies customers if their luggage has not arrived at the destination on time. In contrast, our bad weather coverage indemnifies customers if a predefined amount of precipitation in millimeters is exceeded for a given destination. Even though the coverage cannot make the bad weather disappear, our customers are at least indemnified for their forgone joy and are compensated for their expenses for indoor activities such as a spa visit or alike. Furthermore, all coverages are fully automated: Once a threshold is hit and a customer is eligible for a compensation, the customer will be notified about the claim and the payment will be initiated instantaneously. Thus, by adding these three parametric coverages to our vacation insurance offering, our customers surely enjoy a hassle-free vacation.