Insurtech startup Pluto announces the integration of Babylon Health to give Pluto customers 24/7 GP access and the launch of a new mobile app;
Recent figures from YouGov show just 38% of Brits take out travel insurance, and Pluto has the solutions to better serve those that don't;
Announces a funding round for next stage of growth using European investment platform Seedrs to facilitate the raise.
London-based insurtech startup Pluto announces two major milestones for the business less than 12 months after launch, in tandem with the launch of a funding round on investment platform Seedrs.
Founded by travel lovers and friends Alex Rainey, previously at Accenture Digital, and Harry Williams, an experienced product and design lead, Pluto is on a mission to build up the public's trust in travel insurers by providing customers with on-demand, jargon-free policies and transparent pricing.
A recent report from YouGov released figures stating that more than two thirds (68%) of Brits think insurance providers will do everything they can to avoid paying a claim. Making claims easier than ever but also providing instant airport lounge access or a cash payout when flights are delayed, and instant access to a virtual UK GP, Pluto strives to bring the same level of simplicity and ease of access to the insurance market, that the fintechs brought to the banking industry.
As numerous strikes across Europe and hurricanes in North America led to flight delays and cancellations this month, the tension between what customers want from their travel insurance and what is available, was brought into the spotlight. Pluto's innovative technology and customer-centric approach to insurance saw them take the crown as winner of British Airways' Future of Flying competition this summer.
Alex Rainey, Co-Founder and CEO of Pluto says: "A lot of people aren't even sure what's included or excluded in their policies. On top of that, an inherent lack of trust towards insurers has meant that many millennials choose to take a chance and travel without any insurance at all. We get it, because most insurers won't help with flight delays, they won't help you prepare for a trip or even make your life easy when something does go wrong. That's why we founded Pluto."
In addition to offering instant flight delay cover, Pluto is announcing an integration with Babylon Health in its efforts to ease the strain of getting ill on holiday. Providing customers with 24/7 on-demand medical help and prescriptions through its mobile app, the startup is providing a fast, safe and free alternative for customers seeking medical help abroad, where other insurers would simply expect you to navigate local languages.
Duncan McIntyre, Investor in Pluto adds: "In an industry that's in desperate need of changing from reactive to proactive, Pluto are at the forefront of meeting modern travellers needs and expectations. If your flight is delayed or you're feeling unwell on holiday, they're providing instant care Pluto is a game-changing addition to the stale and archaic travel insurance market."
Latest from iPMI Magazine
- ROCK Insurance Group Launches New COVID-19 Travel Insurance And Cancellation Products To Travel Trade
- iPMI Magazine Provider Network Directory July 2020
- Bupa To Increase Stake In Bupa Arabia To 43.25%
- May Passenger Demand Shows Slight Improvement
- AMII Initiative Leads To Landmark Agreement For Electronic Transfer Of Underwriting