SiriusPoint announces new partnership with travel insurtech Gigasure

HAMILTON, Bermuda. September 3, 2024 - SiriusPoint Ltd. ("SiriusPoint") (NYSE: SPNT), a global specialty insurer and reinsurer, has today announced a new strategic partnership with Gigasure, an insurtech startup offering personalized travel insurance.

Gigasure launched in August 2024, offering personalized travel insurance for travellers and backpackers. An alternative to standard 'off the shelf' policies, Gigasure customers can customize their insurance policies to meet their needs and budget. Policyholders can enhance their cover through the Gigasure app by adding post-purchase benefits and unlocking GigaShield Flight and Baggage Delay benefits. Created in partnership with Blink Parametric, these travel delay benefits provide real-time claim support.

As a distribution partner, policies will be underwritten by SiriusPoint. IMG (International Medical Group, Inc.), a global insurance and assistance services company and subsidiary of SiriusPoint, will provide claims and assistance services.

Commenting on the partnership with Gigasure, Chris Price, Head of Travel in the Accident and Health team at SiriusPoint, said: "With the ability for policyholders to customize 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 them to reach their ambitions."

Gigasure Chief Executive Officer, Ernesto Suarez, said: "Gigasure exists to provide insurance for travellers that meets their travel plans, not the other way around. 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. SiriusPoint is our partner of choice, with its deep understanding of the MGA market and the evolving needs of its partners, and the ability to empower those it works with. We look forward to bringing more innovative products to market."

ENDS

About SiriusPoint

SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm, and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents and Program Administrators. With over $3.0 billion total capital, SiriusPoint's operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch, and A3 from Moody's. For more information, please visit https://www.siriuspt.com/.

About Gigasure

Gigasure is an innovative insurtech platform that elevates the insurance experience by putting customers at the heart of its service through a cutting-edge app. Offering Travel, Backpackers, and Car Hire Excess insurance, Gigasure allows customers to tailor their cover by adding or removing benefits to match their specific needs and budgets.

With the Gigasure app, customers can easily manage, purchase, customise, and boost their policies. Gigasure's innovative feature, GigaShield, provides real-time support with cash payouts and VIP airport lounge access during flight and baggage delays. By combining flexibility, simplicity, and cutting-edge technology, Gigasure is setting a new standard in personalised insurance solutions, fostering customer loyalty through continuous support and an enhanced user experience.

Gigasure is a member of Insurtech UK, a government trade association, the influential voice of insurtechs in the insurance sector.

Gigasure^® and GigaShield^® are registered trademarks. Gigasure.com is a trading name of Gigasure Services Limited. Company No. 15019007. Its registered office address is 1st Floor, 239 Kensington High Street, London, W8 6SN. Gigasure Services Limited is authorised and regulated by the Financial Conduct Authority (FCA), Register No.1005421.

https://gigasure.com/

About IMG® (International Medical Group®)
IMG® (International Medical Group®), a SiriusPoint company, is an award-winning global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. The preeminent provider of travel and health safety solutions, IMG offers a wide range of insurance programs, including international private medical insurance, travel medical insurance, and travel insurance, as well as enterprise services, including insurance administrative services and 24/7 emergency medical, security, and travel assistance. IMG's world-class services, combined with an extensive product portfolio, provide Global Peace of Mind® for travelers, students, missionaries, marine crews, and other individuals or groups traveling, working, or living away from home. For more information, please visit www.imglobal.com.

About Blink Parametric

Blink Parametric is a multi-award-winning global InsurTech that transforms its clients' traditional insurance offerings into superior service experiences with simple, intuitive and transparent parametric products. Its platform serves as the conduit for high frequency, low value claims across Travel, with flight disruption and lost luggage solutions as well as developing solutions within the business interruption sector and online personal data monitoring and cyber solutions. It partners globally with insurance and financial services companies in Asia, Europe, North America and Central and Latin America.

Blink Parametric was founded in 2016, became the first Insurtech in the FCA (UK) Sandbox programme and made TheINSURTECH100 (2019, 2020, 2022), an annual list of the worlds' most innovative InsurTech companies. Selected for Cohort 5 of the prestigious Lloyd's Lab innovation accelerator programme in 2020, it has subsequently won multiple UK and European-wide industry awards for Service, Technology, Customer Experience, Best App, Claims Innovation and Cyber Risk, including Outstanding Industry Contribution of the Year at the 2022 ITIJ: International Travel & Health Insurance Journal Awards. For further information visit: https://blinkparametric.com

Forward-Looking Statements
We make statements in this press release that are forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. Federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of general economic conditions and conditions affecting the insurance and reinsurance industry; the adequacy of our reserves; fluctuation in the results of operations; pandemic or other catastrophic event, such as the ongoing COVID-19 outbreak; uncertainty of success in investing in early-stage companies, such as the risk of loss of an initial investment, highly variable returns on investments, delay in receiving retuon investment and difficulty in liquidating the investment; the costs, expense and difficulties of the integration of the operations of Third Point Reinsurance Ltd. and Sirius International Insurance Group, Ltd.; our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market and investment income fluctuations; trends in insured and paid losses; regulatory and legal uncertainties; and other risk factors described in SiriusPoint's Annual Report on Form 10-K for the period ended December 31, 2023. Except as required by applicable law or regulation, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events, or other circumstances after the date of this press release.

Contacts

Investor Relations
Liam Blackledge, SiriusPoint
[email protected]
+44 203 772 3082

Media
Sarah Hills, Rein4ce
[email protected]
+44 7718 882011

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SiriusPoint Ltd. published this content on 03 September 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 03, 2024 at 13:00:24 UTC.