Ritardo Volo Qorus Innovation in Insurance Awards 2024
ItalyCategory
Product & Service InnovationKeyword
Claims management, Travel InsuranceBusiness Line
AssistanceDistribution Channel
Online / Direct
Innovation presentation
Ritardo Volo is an innovative parametric insurance product, thanks to the use of technological ability to analyze in real time a large amount of information and data and it’s based on the use of a predetermined objective parameter (or triggering event), whose trend is certified and monitored by a third party (Oracle).
Ritardo Volo covers insured customers whose flight is delayed for more than 2 hours: Lounge Access where comfortably waiting for the departure or Cash Refund of a 40€ fixed fee.
How it works: 1)The customer booked a flight to New York and buys Ritardo Volo policy on the EA website or retail channels 2) Once at the airport, the customer learns (via SMS sent by EA) that the flight is delayed by at least 2 hours 3) The customer with a simple click, chooses to spend the waiting time or in a comfortable lounge or to receive an immediate refund of 40€
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