Innovation intelligence brief
Innovation intelligence brief
Smart insurance. Automatic compensation. Your flight is 2h late? Get money without claiming.
What became of it
Completed · High confidence · Last verified 2026-10-17
As catalogued
AXA's parametric flight-delay insurance on the Ethereum blockchain: smart contracts linked to flight data paid out automatically when a flight was delayed by two hours or more, with no claim needed.
2026 reality
Fizzy no longer exists: AXA stopped selling new fizzy contracts in late 2019, while already purchased policies remained valid. The fizzy.axa domain no longer resolves (October 2026).
Launched in September 2017 on Ethereum; according to press reports it recorded nearly 11,000 contracts and about 100 compensated customers after one year. AXA withdrew it in November 2019 and later said it had missed its commercial targets for lack of market appetite and suitable distribution channels, describing it as a 'test and learn' project.
low consumer demand for standalone flight-delay cover and weak distribution, rather than technology failure, appear to have driven the closure; AXA said it remained interested in smart contracts.
a much-cited reference case for incumbent blockchain-based parametric insurance and for the limits of selling parametric micro-cover direct to consumers.
Third taxonomy
REVIEW · Verified the November 2019 withdrawal (Ledger Insights, 11 November 2019; Atlas Magazine: existing policies remain valid, about 11,000 contracts) and AXA's stated reasons (Artificial Lawyer, October 2020); added the missing distribution-channel reason.
Documented evidence
Startpage
How it works
Research interpretation
Classification paths, as catalogued, connect this example to the original insurance digitalization research models.