Great American Insurance Group is entering the travel insurance space.
The insurance company has partnered with travel insurance provider Faye to create a new travel insurance product.
Faye worked with Great American to design a suite of plans, which are underwritten by Great American, that are available on Faye's website, app and via travel distributors, including advisors.
The plans, which Faye CEO Elad Schaffer said are being deployed gradually to travel advisor partners, are commissionable.
"Following the pandemic, we recognized a need for an insurance carrier that supports travel [managing general agents] and brokers rather than competing with them," Chris Banocy, divisional senior vice president of Great American Embedded Solutions, said in a release. "We looked for a collaborator focused on improving the traveler experience and strengthening trust in the category. Faye's modern approach and rapid growth made them a compelling fit, and we've been impressed by their strong leadership, sophisticated technology and commitment to service."