Chubb has launched a new travel insurance product through partners in banking and telecommunications called Pay As You Roam. The product works by detecting when a mobile phone is roaming, indicating its absence from its home country, and providing trip cover for the duration of that time. To use the service, customers first register for free through partner's app, where they can also add the names of other travelers they would like to include on trips. As soon as the customer is detected as roaming, trip cover is activated, and a text message or the app's pop-up notification informs them cover is in place. Customers have four hours from receipt of this to either decline coverage for the trip or to confirm who needs to be included for cover. Bulgarian telecom Telenor was the first telecommunication company to offer the product under the name "Smart Tourist"
Nationwide has added its products to SIMON's Marketplace, a software platform for annunities distributors. The offering gives access to allocation analysis tools and product-specific educational resources for financial professionals working with clients. “Nationwide has a decades-long track record of incorporating smart technology into the financial professional’s day-to-day workflow. This is another big step forward in that effort, with a proven, innovative partner at our side," says Craig Hawley, Head of Annuity Distribution at Nationwide. "With SIMON’s platform, financial professionals can seamlessly integrate a range of annuities into their holistic planning process, creating greater efficiencies for their practice and a more comprehensive wealth management experience for their clients.”
Skyward Specialty has partnered with reThought Insurance Corporation to use the latter's flood risk assessment technology. ReThought's platform provides data and modeling for flood insurance coverage, which will be available through a select group of partner distributors for a broad range of classes. “Skyward Specialty continues to take bold steps to leverage advanced technologies to provide innovative and hard-to-match solutions that our clients and distributors need," Andrew Robinson, CEO of Skyward Specialty says. "Through our partnership with reThought, we can provide our brokers and commercial property owners with a market-leading risk transfer solution for their flood exposures."
The Zebra, a digital home insurance comparison site, has partnered with Cinch Home Services (Cinch), offer its customers the option of adding Cinch Home Protection Plan to home insurance policies purchased on its site. Cinch has a network of 19,000 service providers for warranty claims and also offers on-demand repair jobs and preventative maintenance services to homeowners.