Application of InsurTech Technologies in Travel Risk Insurance (FINANCE MONEY AND CREDIT)

Summary

• The article examines AI, big data, API integration, mobile technologies, smart contracts and parametric insurance in travel insurance.p.1
• 78% of passengers would like a single mobile app combining digital wallet, passport and loyalty programs.p.2
• Among claims professionals, 72% named more efficient claims processing as a main priority, 64% shorter settlement cycles and 45% higher customer satisfaction.p.4
• In 2025 Cover-More Europe and Blink Parametric introduced a parametric solution for flight delays offering an instant payout of €30 for a delay of three hours or more.p.5
• The authors see integrated digital infrastructure combined with professional oversight as the most promising model for travel insurance.p.6

Key insights

1. Parametric insurance can pay out when a predetermined quantitative indicator is reached, without proof of actual loss.p.3
2. Flight delay, weather and route changes can be confirmed automatically from airline, airport and weather data.p.5
3. InsurTech shifts the model from tourist-initiated claims to automatic detection of the insured event.p.5
4. Complex medical cases, large losses and disputed claims should retain the involvement of an insurance specialist.p.6
5. Automating claims processes is becoming one of the key InsurTech adoption areas.p.4
6. Different travel risks require different InsurTech tools, with the highest automation potential for events with an objective digital indicator.p.5