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 t
hat with limited modernization and customer frustration surrounding claims experiences, the c
ategory presents a significant opportunity for carriers and managing general agents to transfor
m how travelers are protected.
“Following the pandemic, we recognized a need for an insurance carrier that supp
orts travel MGAs and brokers rather than competing with them,” said Chris Banocy, divisiona
l senior vice president of Great American Embedded Solutions. “Faye’s modern approach and ra
pid growth made them a compelling fit, and we’ve been impressed by their strong leadership, s
ophisticated 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.
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Elad Schaffer, co-found and CEO of Faye, said Great American’s “commitment to supporting MGAs and enabling long-term growth aligns closely with o
ur mission to modernize travel protection and deliver a dependable, transparent, and caring experie
nce for travelers. We look forward to bringing more innovation to an underserved, high-growth category, together.”