Azimut Marketplace and REVO leverage blackchain to support foodservice business with an innovative outside spaces policy

Azimut Marketplace, the free SME services platform that now has more than 5,500 registered companies, has launched a partnership with Elba Assicurazioni, a company of REVO S.p.A., a major operator in the field of special ty lines and parametric risks, primarily focused on the world of SMEs 1, to provide foodservice businesses with an innovative insurance policy that covers lost revenues from restaurant outside spaces due to bad weather. When the event occurs, the policy automatically reimburses the restaurant owner using blockchain technology.

As energy costs rise, the foodservice category is facing a real crisis. According to data from FIPE-Confcommercio, the Federazione Italiana dei Pubblici Esercizi(the Italian federation of foodservice businesses), with which Azimut Marketplace has entered into an agreement precisely to facilitate dialogue with the industry and bring it closer to fintech opportunities, “there is talk of increases of 200% with peaks of 300%, and there is a risk that 25,000 companies will leave the market, with a total of 80,000 jobs in danger”. The crisis has arrived despite a record-breaking summer and the end of the health emergency, during which restaurant outside spaces were a symbol of the industry’s recovery.

Azimut Marketplace and REVO (through its subsidiary, Elba Assicurazioni), both primarily focused on the needs of SMEs, have launched a partnership to offer the foodservice industry a parametric policy that, thanks to block chain technology, automatically and quickly reimburses restaurant owners for revenues lost from outside spaces due to rain, without the need to open a claim. Blockchain technology makes it possible to have a transparent process, from signing to settlement, without the intervention of an assessor, when at least 2 mm of rain is recorded, during lunchtime and dinnertime periods.