Sberbank launches instant insurance payments if flight delayed

Aug 03, 2020

Russia has resumed international flights to Turkey, Tanzania and the UK in August, and the list of the countries will be updated in the future. As borders are opened, Sberbank insurance launched a new instant insurance payment service under the Traveler Insurance if a flight is delayed for more than four hours both in Russia and the foreign countries. When applying for a policy, you should select the risk and input your flight number (if a customer doesn’t know their flight number when applying for a policy, they can input it later and will receive a message notification on the day before the flight) to use the service.

Sberbank insurance keeps track of all factors of insured customers’ flights delay itself with its partner assistance. If a flight is delayed, a customer will receive a message notification with a link for identification. You should upload a photo of your boarding pass and the first two pages of your passport, as well as input a series and number of passport and information of a bank card to which the insurance payment will be transferred to get insurance proceeds. 

The insurance proceeds amount is available if the flight is delayed for five hours, but not longer than eight hours, and is calculated at a rate of EUR 10 per full hour of the delay if the insurance amount is EUR 35,000 (EUR 20 or EUR 30, when the insurance amounted to EUR 60,000 and EUR 120,000). The payment is denominated in rubles and is made in accordance with the Central Bank of Russia exchange rate on the day of the payment. After the plane departure, the insurance company will transfer the insurance payment to the customer’s card. The transfer time depends on the bank that issued the card.

Sberbank insurance also reduced the policy cost for travels to Europe and the CIS countries, raised the insurance amount for travelers to Russia and increased the insurance age limit to 80. 

Terms of applying for an insurance policy for a year are also improved to be convenient for those who travel often. If the policy previously provided insurance coverage only for 90 days for all trips in one year, now you can choose an optimal number of days depending on the possible time of trips, for example, 30, 45, 60 or 90 days. Consequently, the fewer days are selected in the insurance, the cheaper the service is. Customers will not pay extra money for unused days and don’t buy a separate policy for each trip. 

Katrin Soomre, Director of Protective Insurance Products and Services Division, Sberbank,

“On August 1, Russia will start gradually opening its boards for trips abroad. At the same time, Russians have travelled for a month across the country. We updated the Travelers Insurance program for our customers. We cut the insurance policy cost for tourists who prefer to go to Europe and the CIS countries for vacations. We more than doubled the insurance coverage to USD 35,000 for those who travel to Russia. And we increased the insurance age limit by 10 years to 80 under the program. We aim to make our service as affordable and convenient as possible by improving all processes and digitalizing them. Today you can receive insurance proceeds if the flight is delayed in real time besides buying an insurance policy remotely on the company’s website or via Sberbank Online.” 

Sberbank insurance program for travelers is available both abroad and in Russia. The policy envisages treatment of the first case of an infectious or viral disease, including coronavirus. Products of another Sberbank subsidiary, Sberbank life insurance, don’t contain any exceptions or limitations regarding coronavirus.