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Rain insurance for holidays: Hamburg's start-up opens up new markets with an innovative insurance model
According to a report from www.focus.de, the Hamburg startup Wetterheld is offering a new insurance policy that compensates tourists if it rains at their destination during their vacation. Premiums and reimbursements vary depending on location and risk of precipitation. The insurance company analyzes the weather data at the holiday destination and calculates the premium and the amount of rain compensation based on the precise forecasts. Accurately predicting the risk of precipitation allows the insurer to determine the risk depending on the location and act accordingly. The introduction of this type of weather insurance could potentially have an impact on the tourism market. Since the insurance is currently focused on travel destinations within the EU,...
Rain insurance for holidays: Hamburg's start-up opens up new markets with an innovative insurance model
According to a report from www.focus.de,
The Hamburg startup Wetterheld is offering a new insurance policy that compensates tourists if it rains at their destination during their vacation. Premiums and reimbursements vary depending on location and risk of precipitation. The insurance company analyzes the weather data at the holiday destination and calculates the premium and the amount of rain compensation based on the precise forecasts. Accurately predicting the risk of precipitation allows the insurer to determine the risk depending on the location and act accordingly.
The introduction of this type of weather insurance could potentially have an impact on the tourism market. As insurance currently focuses on destinations within the EU, this could impact consumer choice of destinations and booking behavior. Additionally, other insurance companies may launch similar products in the future to remain competitive in this emerging market segment.
Additionally, by recommending this insurance coverage, tour operators could increase their chances of attracting more customers. The possibility of offering such weather insurance as an integrated offer when purchasing a trip could lead to increased cooperation between insurers and tour operators.
Overall, this innovative type of weather insurance could represent a new trend in the insurance industry, where insurance is embedded into products or services that are automatically offered upon purchase. This could impact the future of the industry and prompt traditional insurance companies to pursue similar developments in order to remain competitive.
Read the source article at www.focus.de