No Snow, No Go
Insurtech Setoo is now providing coverage for customers of Issta, the largest travel agency in Israel. In a “first of its kind” service, customers can now be protected against poor skiing conditions that can ruin winter holidays. Setoo is a “Protection as a Service” platform.
The Ski Protection Guarantee is offered to Israeli consumers on the Issta website when they are booking a ski holiday. Travellers are alerted by Issta three days before departure if bad ski conditions are putting their vacation at risk.
Details count and poor ski conditions are said to be determined by number of ski lifts open. The user can then determine whether or not they want to cancel their vacation and receive a refund for the trip and apply the amount to the package bought on the Issta website.
Setoo’s platform is based on “advanced technological capabilities using AI, machine learning and automatic actuarial algorithms, which enable fully GDPR compliant personalisation, real-time pricing, and claim-free refund.”
Noam Shapira, co-founder and co-CEO at Setoo commented:
“Issta is known for its pioneering approach and is using our insurance-as-a-service platform exactly as intended: to let online businesses define and build their own innovative protection products and ensure a delightful consumer experience. We’re looking forward to continued work with the Issta team to create a range of completely new, millennial-friendly protections that address travelling concerns, generate additional ancillary revenues and provide a significant differentiator in the market.”