What:
Kayak, a travel search engine, has partnered with InsurTech Koala to provide a digitised travel protection platform in Europe.
Why:
Despite travelers seeking financial protection for their pandemic travel, most travel insurance products haven’t adapted to travelers’ needs. About 40% of survey respondents find policies unclear and misleading, and 30% believe policies have complicated claims processes. This partnership aims to make travel insurance fair and simple.
How:
- Koala and Kayak’s partnership will launch KAYAK Flex and KAYAK Comprehensive, powered by Koala, two full digitized travel products integrated into the KAYAK platform.
- KAYAK Flex, available to purchase within three days of booking a trip, provides cancellation protection before departure allowing travelers to receive cash reimbursement if they cancel their trip or decide not to travel.
- Travelers can be refunded up to 70% of their trip price if they cancel their trip up to 4 days before departure, with only travel dates and destination needed.
- KAYAK Flex pays out refunds instantly without the need for complex forms or reasons for cancellations.
- KAYAK Comprehensive protects travelers during their trip with medical expense coverage, including Covid-19 related expenses, hospitalization, and repatriation costs, worldwide.