Continental Assist and baoba Insurtech have formed a strategic partnership to offer parametric insurance in Latin American markets. The collaboration aims to enhance insurance services across the region and introduce innovative parametric products with a customer-centric approach.
The partnership will begin by launching a parametric flight delay product called “Blue Access.” This product will provide instant compensation or premium lounge access to customers for delays lasting over three hours.
Eli Soued, CEO of Continental Assist, expressed his excitement about the collaboration, stating that it signifies a significant advancement in their ongoing journey of innovation. He emphasized the brand’s evolution and vision of immersing deeper into the world of parametrics and innovation with baoba.
Kata Ludvig, CEO of baoba insurtech, also highlighted the partnership’s importance in extending their parametric solutions to a vast and dynamic market. She praised Continental Assist’s extensive distribution networks in Latin America and their profound understanding of the travel assistance industry and insurance product commercialization.
baoba insurtech describes itself as a platform that utilizes location intelligence-driven, automated, parametric insurance technology to de-risk urban areas. It offers end-to-end solutions for insurers to create parametric and index-based insurance using machine learning and geospatial data to provide customers with automated coverage.
Continental Assist is a North American travel assistance company that offers comprehensive protection to its clients worldwide. With the largest international assistance network and real-time service in multiple languages, the company has been a leading player in the travel assistance industry for the past decade.
The collaboration between Continental Assist and baoba Insurtech marks a significant step towards reshaping the world of insurance by delivering real-time, automated experiences to customers. Together, they aim to revolutionize the insurance industry in Latin America and beyond.
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