The unending coronavirus pandemic again is upending travel plans for 2022, reinforcing the meaning of the name for travel insurer Battleface Inc.
The startup moved to Columbus at the beginning of the year from the UK, where it was founded in 2018 by industry veterans who recognized that one-size-fits-all policies no longer fit the way people travel. Battleface sold its first U.S. policies in March, added more than 50 employees and set a pace to triple revenue over 2020.
As the year winds down, growth has approached 50% week-over-week, co-founder and CEO Sasha Gainullin said.
"Many international destinations now require proof of travel insurance upon arrival, and many countries continue varying entry requirements due to the ongoing pandemic," he said via email. "Travelers need the ability to customize their own travel insurance products now more than ever, and Battleface is the only company with such flexible capabilities."
Travel had finally started to approach pre-pandemic levels this holiday season for the Columbus Regional Airport Authority. But the more contagious Omicron variant quickly sweeping the globe added a new wave of uncertainty over cancellations or mandatory quarantine periods.
Battleface, styled as lowercase in its branding, initially targeted freelance journalists and adventure tourists whose risky destinations were subject to exclusions in traditional travel policies. Pandemic travel warnings are among those exclusions, so Covid-19 lumped nearly every traveler into the company's niche. The startup designs custom, short-term plans for outside underwriters.
In 2022, it will expand into Canada and Australia, Gainullin said. The company also is expanding partnerships with airlines, travel agencies and fellow startups in finance, travel and insurance to embed Battleface policy-building tech in their platforms.
Previously Gainullin had specialized in emergency medical coverage for travelers, including with a startup insurer that was acquired by AIG. Co-founder and CTO Anthony Spiteri comes from Tangiers Insurance Services, an insurance intermediary, and a third founder was an underwriter at Lloyd's of London.
"Having spent many years in the traditional travel insurance space, I anticipate many providers are feeling the pinch of the last two years," Gainullin said. "From facing an exponential number of trip cancellation and interruption claims to low performance margins due to high commission payouts, the big players are certainly noticing the effects of the global pandemic. In addition to the impact from COVID-19, the consumer push for customization is stronger than ever. ...
"This limited customization capability is a challenge many will face going into 2022 and beyond. ... We see our unique approach as a significant benefit."
