​Reinsurer inks partnership with travel and car excess insurtech

Global specialty (re)insurer SiriusPoint has teamed up with newly launched insurtech startup Gigasure.

Gigasure, which was established in August 2024, provides personalised travel insurance to travellers and backpackers. It also offers cover for car and van hire excesses.

The insurtech’s partnership with SiriusPoint will see the reinsurer become Gigasure’s main distribution partner and underwriter.

International Medical Group (IMG) – a subsidiary of SiriusPoint – will provide claims and assistance services.

Ernesto Suarez, chief executive at Gigasure, said: “In an uncertain world where people are looking for security and reassurance, our personalised insurance offers exactly that.

“To do this, we needed to find an underwriting partner that understands our vision to be the most customer-centric insurance provider in the world. Together with the SiriusPoint team, we can achieve this goal.”

For Suarez, SiriusPoint is Gigasure’s clear “partner of choice” because it has a thorough understanding of the MGA market.

Partnership

Last month (August 2024), following its launch, Gigasure confirmed that it has also partnered with insurtech Blink Parametric to launch an app-based travel assistance product – called GigaShield.

Underwritten by SiriusPoint, this product aims to provide cover for flight and baggage delays.

Chris Price, global head of travel in the accident and health team at SiriusPoint, said: “With the ability for policyholders to customise their cover on the go and to obtain real-time flight and baggage delay support through the use of parametric products, we believe that Gigasure has a truly unique offering.

“We look forward to partnering with the team and supporting [Gigasure] to reach [its] ambitions.”