August 17, 2021
CPP Group UK Launches UK’s First Parametric Lost Luggage Product
Partnership with Just Travel Cover grows the MGA’s foothold in travel insurance sector
17th August, 2021 CPP Group UK, the MGA and ancillary insurance products and services provider, is partnering with travel insurance provider Just Travel Cover to launch ‘Smart Luggage’ – the UK’s first parametric lost luggage product.
The cutting-edge product uses parametric technology to offer real-time support to airline passengers whose checked luggage cannot be located following an airport arrival. Customers upload an image of their delayed luggage receipt, and the platform will begin searching for the missing checked luggage. Customers will receive an automatic £50 pay-out, directly to their PayPal or bank account after 30 minutes of their luggage being unlocatable at the destination airport, and a further £500 if it is still not located after 48 hours.
The parametric technology automates the entire process from the moment the traveller registers their luggage as missing at the customer services desk at the destination airport. The repatriation service of Smart Luggage keeps the customer informed via text message and email to help locate and return the luggage.
The technology is delivered by Blink Parametric part of CPP Group plc. It is available as an annual multi-trip and singular policy and distributed as a standalone product, add-on or embedded insurance product.
Research from SITA revealed that 24.8 million items of luggage were mishandled in 2018 costing the industry approximately £1.8bn.
The parametric lost luggage product is the first of its kind in the UK market and launched on 17th August 2021.
Carl Carter, CEO of CPP UK, says: “Proactive and innovative service and insurance solutions for the traveller are of paramount importance as international air travel begins to gain momentum again.
“No insurance sector has faced the same scale of disruption and frequency of challenges throughout the pandemic as travel insurance. But the past year and a half has also given the travel insurance industry the opportunity to reinvent itself, improve customer and traveller experience and start to rebuild customer trust.
“CPP has been at the forefront of delivering innovative and valuable differentiation for travel insurance brands through the use of parametric and automated service technology – first with the acquisition of Blink and it’s automated travel delay and disruption solution, and again now, through this exciting partnership with Just Travel Cover.
“We’re proud to be partnering on a parametric solution that supports the traveller and travel insurance industry alike, especially after both have endured months of rapidly changing restrictions and complex claims processes.
“Even as restrictions elsewhere lift and familiarity creeps back, travel is one aspect of our lives that Covid-19 continues to play havoc with. By partnering with Just Travel Cover, we’re stepping up together to support the travel insurance industry in what will be a testing, but worthwhile road back to recovery.”
Andrew Jackson, managing director at Just Travel Cover, adds: “Passengers value a seamless experience now more than ever. By eliminating manual processes as far as possible, we’ve also eliminated many pain points from the customer journey and are able to offer both reassurance and practical, real-time cash assistance to customers who are likely contending with other Covid-19-related stresses.
“Through this partnership with CPP UK, we’re confident that we can not only deliver a more enjoyable customer experience in a Covid-19 world, but use our technology to support the industry in its post-Covid19 recovery by helping to plug this financial blackhole.”
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About CPP Group UK
CPP Group UK develops products to help insurers add further value to their products and services through its innovative suite of new products in FinTech, InsurTech and cyber security.
As a global financial assistance product provider it partners with financial services to give businesses a competitive edge, create customer loyalty and drive ancillary revenue.
It is part of the CPP Group which works with business partners across a range of sectors in 11 markets within Asia, Europe and Latin America to provide product, marketing & distribution expertise, delivering tangible commercial benefits and meaningful solutions to over 10 million customers.
CPP’s insurance and assistance products provide peace of mind by reducing the stresses of everyday life, ranging from protection for mobile phones, payment cards & household belongings to keeping travel plans moving and the monitoring of compromised personal data.
For further information visit https://uk.cppgroup.com
About Just Travel Cover
Just Travel Cover is a trading name of Just Insurance Agents Limited – an independent travel insurance broker based in Sunderland, authorised and regulated by the Financial Conduct Authority.
Just Travel Cover works with a panel of insurers and underwriters to help travellers of all ages and living with pre-existing medical conditions find the right Travel Insurance for their own demand and needs, and has insured more than one million passengers since 1999.
Just Travel Cover provides UK insurance brokers with access to its travel insurance portal and products.
For further information visit www.justtravelcover.com
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