Open, a global embedded insurance partner, has unveiled a new travel insurance offering designed to cater to the diverse needs of individual travelers and travel providers.
The new product integrates Open’s Instant Claims technology and introduces Smart Flight Delay, a feature that automatically provides lounge passes to customers and up to four companions for flight disruptions of 60 minutes or more. The innovation aims to provide customers with timely assistance without requiring them to file a claim.
The product also features Open’s digital-first approach, enabling customers to easily manage their policies, customise their coverage, and access support when needed.
Open’s travel insurance product provides customised complimentary coverage for banking, telecommunications, and payment card partners. This ensures customers receive specific trip protection tailored to their needs.
The platform also enables travel providers to integrate travel insurance into existing products and services or offer standalone travel insurance for digital brands. This flexibility enhances their portfolios and enables them to create appealing offerings in various contexts.
“Our excitement around our latest travel insurance launch comes from bridging the gap between modern digital travel experiences and innovative insurance solutions”, said Sam Hoppe, Chief Commercial and Insurance Officer UK at Open.
“The frictionless tech driven journey that travelers expect from airlines and OTAs should seamlessly extend to insurance and that hasn’t been the case up until now and is where we are aiming to lead the way.”
Hoppe added: “There are some exciting developments on the horizon for 2024 as we look to expand more travel features further down the line, including instant claims and cash settlements and a pay with points feature which promises continued evolution in the travel insurance landscape.”
