Great American Insurance Group has selected AI travel insurance platform Faye to enter the travel insurance marketplace.
This marks Great American’s first expansion into travel insurance. The companies said that with limited modernization and customer frustration surrounding claims experiences, the category presents a significant opportunity for carriers and managing general agents to transform how travelers are protected.
“Following the pandemic, we recognized a need for an insurance carrier that supports travel MGAs and brokers rather than competing with them,” said Chris Banocy, divisional senior vice president of Great American Embedded Solutions. “Faye’s modern approach and rapid growth made them a compelling fit, and we’ve been impressed by their strong leadership, sophisticated technology and commitment to service.”
Great American selected Faye after a comprehensive review of the market. Faye ‘s AI-powered platform blends comprehensive coverage with proactive financial reimbursements, real-time alerts and 24/7 assistance – all delivered via a seamless mobile experience.
Elad Schaffer, co-found and CEO of Faye, said Great American’s “commitment to supporting MGAs and enabling long-term growth aligns closely with our mission to modernize travel protection and deliver a dependable, transparent, and caring experience for travelers. We look forward to bringing more innovation to an underserved, high-growth category, together.”
Topics Trends New Markets Market
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