Continental Assist and Baoba Insurtech Announce Strategic Partnership
for Parametric Insurance Solutions in LATAM
MIAMI, FL, USA – 21st September 2023 – Continental Assist, a North America-based travel assistance company, today announced a strategic partnership with Baoba Insurtech, a parametric insurance technology infrastructure provider. This strategic alliance aims to promote and expand parametric insurance products throughout the Latin American market.
Starting with a parametric flight delay product, “Blue Access”, travelers facing disruptions of three hours or more will have the choice of accessing premium lounge services or opting for instant cash compensation. This solution is designed with modern travelers in mind, ensuring immediate and hassle-free responses to unexpected travel setbacks.
The broader partnership aims to leverage the untapped potential within certain sectors of the Latin American market, introducing state-of-the-art parametric solutions to regions eager for innovative insurance products. This collaboration will bring customer-first solutions to LATAM residing customers via cutting-edge parametric technology. Both companies intend to roll out innovative and impactful parametric assistance solutions during coming years. The focus will be on amplifying the reach and effortless integration of parametric solutions into consumers’ travel experiences.
Eli Soued, Chief Executive Officer at Continental Assist shared his enthusiasm: “Our partnership with Baoba is more than just another collaboration; it’s a substantial leap forward in our ongoing innovation journey. As we broaden our focus and expand our already vast network, we’re raising the bar for what exceptional travel assistance means. With our brand’s recent evolution and the addition of cutting-edge features, our vision is to immerse deeper into the world of parametrics and innovation jointly with Baoba. Their state-of-the-art technological capabilities, merged with our extensive industry know-how, are set to transform the traveler experience on a global scale.”
Excited about the collaboration, Kata Ludvig, CEO and Founder at Baoba , said: “For Baoba, this partnership presents a pivotal opportunity to extend our parametric solutions to an expansive and dynamic market. Continental Assist’s powerful distribution networks in LATAM and in-depth understanding of the travel assistance industry and insurance product commercialization is unparalleled. We share a vision to reshape the world of insurance, and together, we’re ready to deliver real-time, automated experiences. I’m very passionate about the transformative power of parametric and index- based insurance. This collaboration embodies that vision, and I’m excited for the groundbreaking changes we’re set to introduce together.”
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About Continental Assist Continental Assist is a North American travel assistance company, dedicated to providing unparalleled protection to our clients worldwide. In collaboration with our partners, we boast the largest international assistance network, offering our clients a high-quality, real-time service in their own language. Backed by reinsurance companies, Continental Assist has been shaping the travel assistance industry for the past 10 years. For further information visit https://continentalassist.com
About Baoba Baoba is a comprehensive platform for parametric insurance infrastructure, enabling insurers to Create, Launch, and Operate parametric policies effortlessly via direct and embedded channels, enabling real- time, automated insurance experiences. Founded by successful digital entrepreneur CEO, Kata Ludvig, and seasoned professionals in 2021, the company is headquartered in Florida, USA with offices in Canada and Europe. Baoba has gained significant traction since the company’s launch, working with global insurers and technology vendors to deliver better protection experiences to travelers. For further information about Baoba Insurance visit https://gobaoba.com/
