Insurance start-up Jumpstart has launched a form of coverage aimed at providing more efficient pay-outs following natural disasters. Customers can sign up to a policy online and are then paid out automatically with a pre-defined sum following a claim. The company says it is the first insurance product that will be able to pay for itself in an emergency by paying claims from people who have been affected by disasters such as floods, earthquakes or forest fires. The firm will initially offer coverage protecting against earthquakes in California.
Insurance start-up Jumpstart has launched a form of coverage aimed at providing more efficient pay-outs following natural disasters. Customers can sign up to a policy online and are then paid out automatically with a pre-defined sum following a claim. Jumpstart said the payment can be used in whatever way required for customers to get back on their feet. The firm will initially offer coverage protecting against earthquakes in California.