Blockchain: Axa stops Fizzy

Fizzy, the insurance platform based on blockchain technology, is closing down. Launched by AXA in September 2017, this innovative solution was designed to cover flight delays of more than two hours and automatically compensate customers. Unfortunately, this first experience did not meet the expectations. One year after its launch, Fizzy recorded nearly 11 000 contracts and compensated about 100 customers only.

AXA recalls that the underwriting of new contracts is suspended while the policies already purchased remain valid. It calls upon any potential insured to contact its customer support before 31 December 2019.