Pikl, an InsurTech focused on insurance-enabled business models, is scaling its flexible cancellation solution designed to help short-term rental platforms offer booking flexibility while protecting revenue.
The offering enables property management companies (PMCs) to provide “hotel-like” flexible booking options without exposing themselves or property owners to the financial risks of cancellations.
Insurance operates behind the scenes, allowing PMCs to charge for flexibility, resell cancelled bookings, and stabilise income streams.
The model addresses a key challenge in the short-term rental sector, where operators must balance growing guest demand for flexibility with the need to maintain occupancy and protect revenues. By embedding insurance into the booking journey, Pikl creates a more consistent and scalable approach to managing cancellations.
Since launching in 2024, the solution has become the company’s core product, driving adoption among partners and delivering measurable commercial impact, including stronger conversion rates and increased revenue per booking window.
Louise Birritteri, CEO and Founder, Pikl, said, “At Pikl, we have successfully converted insurance into a growth infrastructure that adds value for property managers, hosts, and guests simultaneously. With data expected across eight million bookings by the year’s end, we’re already generating unique insight into cancellation behaviour and booking window economics that simply didn’t exist before. This insight will only deepen as our dataset scales to Airbnb-level proportions by the end of 2026. We haven’t just embedded an existing insurance product into a booking journey, we have reimagined what insurance can do for all participants, creating an entirely new category of insurance-enabled business models and driving unparalleled business intelligence that is set to revolutionise the short-term rental market.”
Pikl positions its approach as a step beyond traditional embedded insurance, using insurance as infrastructure to enable new commercial models rather than simply digitising legacy products.
The company has also introduced complementary solutions, including a damage deposit waiver to reduce disputes between guests and hosts, and host insurance covering theft and accidental or malicious damage.
Pikl said its growth has been driven by this shift in approach, with its flexible cancellation solution now accounting for the majority of its commercial traction and helping it reach a 20% share of the UK short-term rental market.
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