Gigasure introduces significant shift from traditional one-size-fits-all policies
Gigasure is an innovative insurtech platform that elevates the insurance experience by putting customers at the heart of its service. Launching with Travel, Backpackers, and Car Hire Excess insurance, Gigasure sets itself apart by putting unprecedented control in customers' hands to enable travellers to customise their insurance plan to their specific needs.
Gigasure transforms the travel insurance experience. Through its cutting-edge app, policyholders can effortlessly tailor their cover by adding or removing benefits to align with their specific needs and budgets. This flexibility allows customers to create bespoke insurance solutions, marking a significant shift from traditional one-size-fits-all policies. Gigasure also offers on-demand Boosts for customisation while travelling and dedicated real-time Flight and Baggage Delay support, to provide a uniquely tailored and personal insurance experience.
The startup believes travel insurance should adapt to the customer’s journey, not the other way around. That's why it has created a platform that empowers travellers to customise their plan, even while travelling.
Gigasure is focused on being there for customers when they need it most. Research shows that over two-thirds (66%) of travellers are more interested in travel now than before the COVID-19 pandemic. Furthermore, 64% of global travellers aim to cut other areas of their personal spending to prioritise leisure travel1. With an increased desire to travel Gigasure exists to provide travellers with travel insurance policies that fit their travel plans, tailored specifically to any activities they will be doing.
Research from the Chartered Insurance Institute2 shows that over the last five years, 25% of insurance claims were for flight delays and 31% were a result of baggage claims. In response to this, Gigasure has created ‘GigaShield’ - providing customers with real-time payouts for flight delays and baggage loss along with VIP airport lounge passes (depending on level of cover) to provide immediate help and support in their moment of need. With this elevated level of assistance, the brand aims to make sure their customers always feel supported - providing a new level of assurance that will translate into brand loyalty and trust.
CEO Ernesto Suarez introduces his new company to the market after securing seed funding from a consortium of private investors. Suarez, who previously founded Halo – a company acquired by Zurich Insurance and Cover More Group in 2017 – brings his wealth of experience to his latest startup and is on a mission to transform the way customers interact with their insurance, by combining the best of cutting-edge insurtech and traveltech.
Ernesto Suarez, CEO, Gigasure, said: “For so many people, insurance is something they buy and forget about until something goes wrong, because ultimately their insurers offer them very little ongoing value. We want to change that. In an increasingly uncertain world where people are looking for everyday security and reassurance, our personalised insurance offers exactly that. To deliver this, Gigasure offers new features, flexibility, and seamless claims that travel with our customers everywhere on our app, giving them complete control over their insurance, wherever they are in the world. Gigasure's launch represents a new era in insurance, where technology empowers consumers to shape their own protection.”
Flexibility and simplicity are the key elements that set Gigasure apart from competitors. The products are designed for quick and easy purchase, with a clear path for policy customisation. Customers can tailor the core benefits by adding or removing them, and further personalise their cover with optional add-ons. Understanding that travel plans can change, through its app, Gigasure empowers customers to Boost their policy on the go.
To build the next generation of insurance meant assembling a team of experts from across the insurance world, each with deep knowledge of their sector. Joining Suarez at launch are Gary Murphy, previously of Zurich Insurance, to head up the Travel products, and Karen McCullough, previously of Cover-More, to lead future growth areas. The Team will also be joined by experienced CTO Stuart Scott, who has been working with Suarez on insurance projects for 15 years.
Suarez adds: “I couldn’t be happier with the team that’s come on board to build Gigasure, and I’m committed to empowering them to build the most exciting insurance products on the market. We’re growing our capabilities all the time, and now we’ve launched, we will be focusing on more innovation to improve our customers’ experience of insurance.”
With policies underwritten by SiriusPoint and AmTrust International, Gigasure is rolling out its offering across the UK - with further territories, insurance verticals and features planned in the coming years. Based in London and Cardiff, the new MGA’s vision to create the world’s most customer-centric insurance provider launches today.
