WOLT
As the company continues to scale , paying claims quickly and ensuring that couriers continue to receive a positive experience remains a challenge . Consistency is the end-goal , Olson says : “ When we expanded our programme into more remote markets from the Nordics , to Kazakhstan and Azerbaijan , we ran into some new challenges . These are not easy markets to operate in because of how insurance is – or isn ’ t – regulated , how the very concept of insurance is defined , plus how the premium is calculated .”
“ When you ’ re going to the local insurance companies and asking them to build a bespoke proposition for a disruptive business model , even if it ’ s reinsured outside the country , that ’ s where the challenges emerge – from building a new offering to processing the claims very quickly . If we fail , it tends to still be forward . We view obstacles as opportunities . We are addressing a new segment , so inherently the status quo will push back .”
Assessing risk more dynamically The future of Wolt ’ s insurance proposition lies in dynamically assessing the risk that courier partners face in real time . Presently , risk is determined by how many hours courier partners are online – even if they ’ re just waiting for their next order . “ The data we can ’ t see will eventually hurt us .” Instead , Wolt intends to use local dynamic data in
insurtechdigital . com 97