United Networks is please to announce that it has released its...

United Networks is please to announce that it has released its first Insuretech product, Flight Delay Insurance with Chubb, which is incorporated into the Chubb Connect App. Anthony Ghattas, Chairman of UNL said, “The Flight Delay Insurance product is an innovative first for UNL and provides airline passengers with the ability to take out insurance against a flight being delayed, cancelled or diverted. A passenger selects a time-delay to insure against with an associated premium. The transaction itself is completed in the app and is seamless and frictionless.

UNL has integrated the product in the existing Chubb Connect app, streamlining the whole insurance process. This product will be promoted to Chubb customers alongside the United SOS Emergency safety service platform and global Wi-Fi network provided by United Networks to keep customers connected, informed and updated on significant events happening which may affect their safety or disrupt their travel plans.” The product was developed in conjunction with Swiss Re and Chubb. UNL will be paid a percentage of the net premium of the insurance policy. Below is a detailed news release issued today by Chubb.

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Nice reaction yesterday. hopeful that the market will start to catch on here.

So United Networks gets 15% of the insurance premium in this agreement, when a customer signs up to the flight delay insurance - with zero insurance risk. Another smart product from the UNL guys, little to nothing actually spent on marketing to the acquisition of an end customer.