10. Jan 2013
2e Systems buys shares in Flightsurance

The founders of travel insurance start-up Flightsurance, Dr. Jens Ortgiese and Zoltan Kastner, have sold their shares to 2e Systems, making 2e Systems the largest shareholder in the company.

Ortgiese and Kastner founded Flightsurance in 2008 and subsequently formed partnerships with Swiss Re and QBE. "We are very pleased about the acquisition offer of 2e. The strong market position and profound expertise of 2e in high volume transaction technologies, combined with the innovative capacity of Flightsurance in the segment of real-time risk management systems form the perfect combination to quickly expand the current offer and create new value-added products." said Dr. Ortgiese.

Other prominent investors in Flightsurance include private equity companies INTRO Aviation and MIC-Marbach-Group.

Flightsurance uses technology which calculates an anonymous customized risk profile for every flight, allowing it to offer a customised product price. It was this week awarded further patents in the US, while patents are pending for China, India, Indonesia, Japan and Canada, according to the firm.

Currently the Flightsurance Air Travel Cover is available in 27 countries for more than 230 worldwide airlines.