Erste Bank Hungary and Companjon revolutionize flight delay insurance.

TLDR:

• Erste Bank Hungary has launched Flight Delay Insurance in partnership with Companjon.
• The innovative insurance solution offers customers protection against travel disruptions due to departure delays, with automatic compensation of HUF 16,000 when delays reach one hour.

Erste Bank Hungary has partnered with InsurTech company Companjon to introduce Flight Delay Insurance, a new service available to customers through the George app. This innovative insurance solution provides customers with protection against travel disruptions caused by departure delays. Powered by Companjon, the service automatically monitors the status of the flight and triggers a claim for compensation of HUF 16,000, which is instantly credited to the customer’s account when the delay reaches one hour.

The insurance experience is entirely automated for Erste Bank customers. On the day of departure, Companjon monitors the flight in real-time and automatically approves a claim for compensation if the flight is delayed by an hour. The compensation is then directly credited to the customer’s account, with no restrictions on how the payout can be used. Customers can purchase Erste Flight Delay Insurance between 180 days and seven days before the flight’s departure for HUF 1,999 per ticket per flight, with the option to extend the protection to up to three additional travel companions on the same flight for the same cost per passenger.

László Harmati, deputy CEO of Erste Bank Hungary, highlighted the bank’s commitment to personalized and tailored services, combining the latest digital solutions with traditional banking reliability. Companjon CEO, Matthias Naumann expressed excitement about the partnership and the opportunity to create more modern insurance solutions with Erste Bank, enhancing the digital ecosystem and differentiation against competitors.