LONDON, Sept. 8, 2017 /PRNewswire/ -- Chubb and App in the Air today announced the launch of Flight Delay Insurance, an innovative new insurance cover for airline travellers. Underwritten by Chubb European Group in partnership with Swiss Re and FlightStats, the proposition will be offered to UK App in the Air users through their personal travel assistant app.
Flight Delay Insurance covers the additional costs and inconvenience travellers may face when their flight is cancelled, diverted or delayed and will pay out sooner than they might typically expect to receive compensation from their airline carrier. For example, under current EU legislation, passengers travelling from within the EU must be delayed by at least three hours before they are eligible for any compensation and this only applies if you are travelling with an EU-based carrier. Flight Delay Insurance will pay out sooner, applies to flights outside the EU, and is intended to cover unexpected costs incurred, for example a taxi, fees for a lounge, snacks, meals, refreshments, books, magazines, or any other expenses.
App in the Air users will be offered Flight Delay Insurance for each eligible flight shown on their itinerary. Customers receive £100 compensation if they are delayed by more than an hour and in some instances as little as 30 or 45 minutes. Flight cancellations and diversions automatically trigger £100 payment.
Claims are validated in real time using data from FlightStats, a leading provider of real-time global flight data to consumers and the travel industry, and paid directly into the customer's PayPal or bank account, or credited to their debit or credit card, typically within an hour, but at the latest within 72 hours of arriving at their destination.
Commenting on the launch, Alex Blake, Senior Vice-President and Global Head of Travel Insurance at Chubb, said:
"This exciting new proposition, launched in partnership with Swiss Re, FlightStats and App in the Air, marks an important step in our strategy to develop new and innovative ways to reach more customers with very tailored and relevant insurance offers. It also addresses a previously unmet customer need, having been designed specifically to pay out when they may not otherwise be eligible for compensation from their airline carrier.
"Being able to assess claims automatically in real time, without any action on the side of the customer - such as obtaining proof of the incident - and then pay the claim directly to their PayPal or nominated bank account, debit or credit card, we think will be an appealing feature and provide the level of service we all now expect in our ever-increasing online, digital lives."
Bayram Annakov, CEO of App in the Air said:
"Working in conjunction with Chubb and Swiss Re has enabled us to develop a proposition that addresses a real and increasing customer need. This is exactly the kind of positive experience we want to provide to App in the Air users."
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com/uk