Erste Group’s subsidiary Erste Financial institution Hungary, in partnership with European insurtech firm Companjon, has rolled out Erste Flight Delay Insurance coverage, a novel insurance coverage service for its prospects.
The brand new service is built-in with the George app, a digital banking service for Erste Checking account holders.
It affords safety towards flight delays, offering an automatic compensation expertise.
Out there from 17 Could, this insurance coverage providing is designed to boost the journey expertise for Erste Financial institution’s retail forint account holders.
The Erste Flight Delay Insurance coverage answer utilises real-time flight monitoring to automate the claims course of.
If a flight is delayed by one hour from its scheduled departure time, Companjon will routinely approve a declare, granting the shopper a compensation of Ft16,000 ($44.99).
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This quantity is immediately credited to the shopper’s account with none restrictions on its use.
For a charge of Ft1,999 per ticket, Erste prospects should buy this insurance coverage from as early as 180 days to as late as seven days earlier than their flight’s departure.
Moreover, the providing additionally permits prospects to increase the protection to as much as three further travellers on the identical flight, guaranteeing every passenger receives the identical degree of safety and compensation.
Erste Financial institution Hungary’s deputy CEO, László Harmati, mentioned: “Erste is making its providers more and more personalised and tailor-made. We consider that by implementing the most recent digital options, comparable to Flight Delay Insurance coverage, we are able to contribute to our prospects’ efforts to retain their monetary well being.”
“Along with making day by day funds simpler, our providing is expanded by auxiliary providers that create actual worth for patrons.”
Companjon is a enterprise to enterprise to shopper (B2B2C) insurtech firm established in 2020. It has launched a variety of recent and parametric insurance coverage merchandise in collaboration with completely different manufacturers throughout numerous sectors.
Companjon CEO Matthias Naumann mentioned: “The launch of Erste Flight Delay Insurance coverage comes at a most enjoyable time with summer time journey season approaching. It has been a privilege to companion with Erste Financial institution Hungary on this service, supporting them of their endeavour to develop and enhance their providing of personalised, tailor-made digital providers to their prospects.”
