At Leo, we tackle one of the main issues faced by the industry today: flight disruptions.
- 100M passengers per year suffer heavy flight disruptions, leading to situation of stress, money loss, anger.
- Europe has tried to solve the issue with the EC261 regulation, forcing airlines to pay compensations for 3h+ delayed flights or cancelations, under specific conditions. But it created unexpected problems:
For Airlines, it created a significant cost center (operation and compensation). Each year, €4 billion are due to passengers because of this regulation.à
For Passengers, it created a new process which proved to be hard, non-transparent and frustrating (EC261 only covers 40% of delays 3h+, only 20% eligible claims end up being paid, in an average of 9months)
To address those issues, we have built Leo - a brand new travel insurance product, sold into the airlines booking funnel or incorporated in the price of the airline ticket or travel agencies packages.
With us, travelers are covered for ~100% of delays > 3h, are paid instantly, not months, for all eligible claims.
With us, airlines cut EC261 cost, as we manage the claim process automatically and pay compensations on their behalf.
Our vision is to allow people to finally travel carefree and give airlines the possibility to focus on what’s important: passengers’ journey.