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02 Feb 2019

Insurtech breakthrough: immediate payouts to passengers whose flights are canceled

The founder and CEO of Fortifier Alex Gayduk has started the first flight insurance for delays or cancellations with automatic and immediate payouts — Panzly.

The startup will be introduced to investors, airlines, ticket vendors, and insurance carriers at Travel Technology Europe (TTE), Olympia London, United Kingdom, on February 20-21, 2019.

Panzly was chosen among other products for its unique concept and ultra-fast technological solution to everyday issues. In the shortest term less than a coffee break at the airport, Panzly automatically triggers the compensation in the event of a 2-hour delay, not depending on the reason for the layout or cancellation. The service stands between airline ticket vendors or flight aggregators, insurance companies and their clients, becoming a new revenue channel and improving the customer experience, such as loyalty programs for premium customers.

More than 120K flights were canceled last year within Europe only; about 680 flights are canceled every day around the globe. Unexpected weather conditions, the human factor, etc. create issues for insurance companies and their clients on a daily basis. A huge part of claims stays open for years because of bureaucracy and tons of unnecessary protracted paperwork. Panzly’s AI-driven automatic assistance solves all outdated problems with just a few clicks.

Panzly has been identified as one of Europe’s most ambitious tech start-ups and selected to be showcased to 6000+ travel technology professionals as part of Travel Technology Europe’s Disrupt Launchpad.

The winner of the Disrupt Award will win a booth at next year’s Travel Technology Europe worth £8000, along with valuable PR and marketing support. Voting for the five finalists opens on February 2, 2019.

Live pitches will take place on February 20th at 4:30 pm in the Innovation Theatre.

Panzly, the first flight insurance platform from delays and cancellations with immediate payouts, was found in 2018 by Alexey Gayduk, mentor at Hartford Insurtech Hub, CEO Fortifier. Fortifier is a leading provider of reliable engineering solutions for insurtech and insurance companies.

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