Breaking through the Wall of Mistrust: 2019 is returning customer trust to insurers

It’s no secret for any of us that airlines and ticket vendors insurers are one of the most untrusted players of the entire insurance industry. For decades they have consistently earned the collosoally uncool status of the most trustworthy companies. Even though most travellers have no idea they are already insured by automatic credit card insurance, they will rarely, if not never, accept airlines insurance offers when buying a ticket. Each and every experienced traveller knows that buying insurance from a third-party service will cost the same as if it were purchased from the airline, but will result in much more money back in the event of cancellations delays and other mishaps.

The whole mistrust thing has 2 main reasons:

• it takes months to receive a payout from an insurance company and that’s IF the claim is accepted and approved
• the list of circumstances covered is well below minimal.

People want to receive payouts and compensations in the exact same manner they buy tickets and get insured: on the tip of a finger tap without any personal interaction. Instead, they have to deal with, “outdated” live people, paperwork and bureaucracy nightmares. Moreover, people are more open to getting insured by non-insurers.

Accenture Insurance asked 32.7K insurance customers from all over the world, and according to the survey, over 60% said they’d prefer to buy insurance from a bank.

Smaller percentages said they would buy insurance from a tech company, home service provider, retailer, but still not a traditional insurance company or broker.

So when could be a better time to take back customer trust you deserve if not now, in 2019, the year of a travel technology massive expansion? With so many options you simply need to look around and grab the one that winks back at you! Integrate your insurance service into a ticket selling service, integrate claims and payouts calculator into your airline vendors app, use IoMT to sell insurance, or use any other option you could possibly imagine.

Get closer to your customers!

That is what we did in Panzly. We brought together airline ticket sellers and insurers, added a pinch of satisfying user experience based on AI and behavioral predictions, a tad-bit of ultra-fast service and served it up in the perfect mobile app design. In the shortest term, less than a coffee break at the airport, Panzly automatically triggers the compensation in the event of a 2 hour delay, not depending on the reason for the delay or cancellation. The service stands between airline ticket vendors or flight aggregators, insurance companies and their clients, becoming a new revenue channel and improving customer experience, such as loyalty programmes for premium customers.

Panzly has been identified as one of Europe’s most ambitious tech start-ups and selected to be showcased to 6000+ travel technology professionals as part of Travel Technology Europe’s Disrupt Launchpad & Award. For more information on Panzly, visit panzly.com.