SiriusPoint Announces New Partnership with Travel Insurtech Gigasure
- Written by: iPMI Global
SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced a new strategic partnership with Gigasure, an insurtech startup offering personalized travel insurance.
Gigasure launched in August 2024, offering personalized travel insurance for travellers and backpackers. An alternative to standard ‘off the shelf’ policies, Gigasure customers can customize their insurance policies to meet their needs and budget. Policyholders can enhance their cover through the Gigasure app by adding post-purchase benefits and unlocking GigaShield Flight and Baggage Delay benefits. Created in partnership with Blink Parametric, these travel delay benefits provide real-time claim support.
As a distribution partner, policies will be underwritten by SiriusPoint. IMG (International Medical Group, Inc.), a global insurance and assistance services company and subsidiary of SiriusPoint, will provide claims and assistance services.
Commenting on the partnership with Gigasure, Chris Price, Head of Travel in the Accident and Health team at SiriusPoint, said: “With the ability for policyholders to customize their cover on the go, and to obtain real-time flight and baggage delay support through the use of parametric products, we believe that Gigasure has a truly unique offering. We look forward to partnering with the team and supporting them to reach their ambitions.”
Gigasure Chief Executive Officer, Ernesto Suarez, said: “Gigasure exists to provide insurance for travellers that meets their travel plans, not the other way around. In an uncertain world where people are looking for security and reassurance, our personalised insurance offers exactly that.
“To do this, we needed to find an underwriting partner that understands our vision to be the most customer-centric insurance provider in the world. Together with the SiriusPoint team we can achieve this goal. SiriusPoint is our partner of choice, with its deep understanding of the MGA market and the evolving needs of its partners, and the ability to empower those it works with. We look forward to bringing more innovative products to market.”
