The Swiss platform Flink is designed for young people, with ultra-simplified and demand-driven insurance contract offers, thanks to constant innovation.
The Helvetia Group, which was founded in 1858, is the leading insurance company in Switzerland. With the launch of the Flink brand in 2017, the goal was to target the Millennials, which represent the future for insurance companies. Initially, Flink was a start-up supported by Helvetia. The team that carried this project is precisely composed of young people who have a strong capacity of adaptation and innovation, like the co-founder Patrick Castiglia. Ideas to improve conventional insurance contracts have multiplied and experiments too, with the ambition to improve the user experience. This is how Flink is progressively evolving to become a platform dedicated to innovation, with support from the parent company Helvetia.
Simplicity and flexibility
With Flink contracts, these are the two watchwords. If young people have been targeted, nobody is excluded and everyone can conclude such a contract, at least in Switzerland. And the Flink team worked to make the contract as simple and understandable as possible. The proof: the general conditions fit on one page! The goal is to offer the simplest insurance contracts in the world. They use a clear vocabulary in order to be understood by everybody. In addition, the contract is concluded for one month only and automatically renewed. Thus, you can sign or terminate your contract at any time and from anywhere directly from your phone.
My Damages and My Things
For the moment, Flink has developed two insurance policies for young people. My Damages is a liability insurance covering the customer against the physical and material damages caused to a third person, and this concerns even borrowed vehicles. My Things is more than just a home insurance protecting your home against theft and « sudden and unexpected » damage. It can also insured against damage caused outside home and damage that may be caused by mistake to his own business, including eyeglasses, sunglasses and lenses.
A good rate for roommates
However, Flink advises against throwing his smartphone on the floor: the platform has developed its own technology, « DeepSniff », which detects fraud on the basis of pattern recognition. In addition, the insured can choose himself the amount of his deductible in case of disaster. This can be a traditional amount of 200 Swiss francs or simply zero with the option « Zero Deductible ». For roommates, they can benefit from a group price of up to 60% discount by concluding the same contract.
An example to follow
Initially launched as a start-up, Flink becomes a key resource for Helvetia as part of its innovation strategy. By testing new products and taking into account the user experience of the younger generations, this platform has managed to move the lines with revolutionary contracts. Simple, flexible and affordable, they take into account changing lifestyles and the increasing mobility of students and young workers. These new insurance products will undoubtedly become the norm in the years to come.
