UK-based Getcover.com is embedding parametric flight delay cover with insurance policies, providing travellers with airport lounge access or a £30 ($56) payout if a flight is delayed by two hours. 

The payout is directly deposited into the policyholder’s bank account with no need for “receipts, forms or phone calls”. 

Under a partnership with insurtech Blink Parametric, Getcover.com policyholders register their flight details prior to travel and Blink then monitors the flights in real-time. A flight delay automatically results in a traveller being notified. 

“Parametric travel insurance propositions have a strong consumer focus and, as mass travel returns to pre-pandemic levels, we’re keen to support innovative parametric-powered solutions that give travellers valuable protection if their plans are disrupted,” said Karen Beales, MD at Financial and Legal Insurance Company, which is underwriting the product. 

Getcover.com, a trading name of London-based Newpoint Insurance Brokers, says the real-time flight delay service will be embedded at no extra cost to the policyholder within all its Gold tier policies purchased direct from its website. 

Blink Parametric specialises in high frequency, low value claims across the travel sector.