Latin America: baoba Insurtech and Continental Assist to Support Parametric Insurance Across LatAm Markets

Continental Assist and baoba Insurtech are joining forces for parametric insurance in Latin American markets.

Their partnership will aim to streamline insurance services across Latin America. Together, they’ll introduce innovative parametric products, “with a focus on customer-centric experiences.”

They’re starting with a parametric flight delay product, “Blue Access”, reportedly “offering instant compensation or premium lounge access for disruptions over three hours.”

Eli Soued, CEO at Continental Assist, says:

“Our partnership with Baoba is more than just another collaboration; it’s a substantial leap forward in our ongoing innovation journey. As we broaden our focus and expand our already vast network, we’re raising the bar for what exceptional travel assistance means. With our brand’s recent evolution and the addition of cutting-edge features, our vision is to immerse deeper into the world of parametrics and innovation jointly with Baoba.”

Kata Ludvig, CEO of baoba insurtech, adds:

“For Baoba, this partnership presents a pivotal opportunity to extend our parametric solutions to an expansive and dynamic market. Continental Assist’s powerful distribution networks in LATAM and in-depth understanding of the travel assistance industry and insurance product commercialization is unparalleled. We share a vision to reshape the world of insurance, and together, we’re ready to deliver real-time, automated experiences. ”

As noted by its management, baoba insurtech says it is “de-risking urban areas through location intelligence-driven, automated, parametric insurance technology.”

It is described as an end-to-end platform for insurers “to create parametric and index-based insurance that provide customers with automated coverage via the combination of machine learning and geospatial data.”

As mentioned in the announcement, Continental Assist is a North American travel assistance company, dedicated to “providing unparalleled protection to our clients worldwide. In collaboration with our partners, we boast the largest international assistance network, offering our clients a high-quality, real-time service in their own language.”

Backed by reinsurance companies, Continental Assist claims that it has been “shaping the travel assistance industry for the past 10 years.”

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