Group 105
Group 21 (1)
Risk mitigation and operational efficiency service.

Leveraging the power and flexibility of blockchain to automate claims and payment management in the event of delays or cancellations. Digitally processing high volumes of low value claims reduces costs and transfers 100% of your passenger compensation liability into the international reinsurance market, thus reducing financial volatility.

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About RedAssist

Immediate, digital payment of flight delay or cancellation compensation.

RedAssist is an InsurTech service from RedAir, offering airlines an automated, full-service, self-service, digitally delivered, flight delay compensation platform. We automate an immediate, digital payment of flight delay or cancellation compensation to qualifying passengers – with no airline intervention required.

What we do
Transfer 100% of the liability from the airline
Mitigate risk and passenger friction
Fixed service charges reduce financial volatility
Reduce bottom line impact
Reduce negative PR on social media
No GDPR risks – passenger data is anonymised
Reduce passenger/crew friction – improve staff morale and reduce staff churn (including costs of new hires and training)
Reduce Call Centre and/or Complaints/Claims Handling team size & costs
Enjoy a profit share – giving airlines a top line benefit potential too
Why we do it
To automate legacy, manually driven Customer Service and Back Office processes thereby reducing timescales and costs to process “high volume, low value” claims and payments
To remove the financial burden from the airline
To surprise & delight passengers, changing their experience and reaction
To remove negative PR and friction when delays occur
To ensure regulatory compliance & transparently evidence it
To remove the stress from Flight and Cabin Crew in delay situations and reduce staff churn
To remove the legal costs of dealing with “ambulance chasing” law firms

How it works

Immediate, digital payment of flight delay or cancellation compensation.

Airlines reduce the impact on ground crew and cabin crew as well as reducing the time and cost impacts of having to maintain complaints and claims handling teams to review, assess and pay out again an event that we all know is going to happen from time to time. The administrative burden and the costs associated are removed with RedAssist. The positive impact of this on the airline is significant and highly beneficial to its bottom line performance. Delaying before paying only serves to further annoy passengers and to add insult to injury. That’s hardly a recipe for great customer satisfaction.

Engagement Process.

Step 1

Target airlines are asked to provide a minimum of 5 years’ historical data so that we can profile and price the service which comprises the RedAssist insurance product and the RedAir technology platform for automation of claims and payment notifications.

Step 2

We then work with the Underwriting Actuary to produce indicative pricing.

Step 3

Non-binding pricing is shared with the airline and a Heads of Terms is signed. Detailed discussions take place between airline, RedAir and the Underwriting teams to firm up premiums and payments.

Step 4

Once the airline, RedAir and the Underwriters are in agreement on the terms, final pricing and contracts are drawn up & signed between (1) the airline and RedAssist Guernsey for the insurance and (2) RedAir / RedAir’s local partner and the airline for the provision and local support of the service.

Step 5

Implementation can then commence and, once completed, the service starts. Punctuality and performance are constantly monitored and premiums adjusted during the term of the contract.