Insurtech Qover has announced a second partnership with Revolut, the global financial super app with more than 30 million retail customers worldwide, to provide embedded insurance for its new trip and event cancellation cover.
The product, which is exclusive to the Revolut Ultra plan, orchestrated by insurtech Qover and underwritten by European insurer Wakam, is designed to offer customers the flexibility to cancel their plans for a wide variety of reasons. The cancellation for any cause insurance covers 100% of cancellation fees for specific reasons (listed in the terms & conditions), and up to 70% without a specific reason.
Qover was founded in 2016 by Quentin Colmant and Jean-Charles Velge. the insurtech’s modular platform caters to the diverse needs of the modern consumer, operating seamlessly across Europe with a single API integration. Recognising the shift in customer expectations towards hyperconnected experiences, Qover’s product provides a fast time-to-market solution, creating a cohesive Pan-European approach.
Qover in collaboration with Revolut
Designed for Revolut, the trip and event cancellation cover, available to Revolut customers in more than 30 countries in the European Economic Area, offers innovative cancellation coverage for a wide range of scenarios allowing customers to easily claim from their app. Unlike many insurance policies with long lists of exclusions and limited cancellation payouts, the cancellation for any cause insurance sets itself apart in the industry by offering comprehensive coverage that protects customers from a wide range of unforeseen events.
According to reports, the process is swift, without unnecessary paper work from the user. Accessing essential data through its API integration with Revolut, Qover streamlines the claims process. Users simply open their Revolut app, select ‘file claim’, choose the relevant transaction, and find that most of the necessary information is already pre-filled. With just a few taps, the claim is submitted.
Qover plan provides 24-hour claims payment guarantee
As part of this plan, customers are offered a 24-hour claims payment guarantee, ensuring that eligible and complete claims will be processed and paid out within 24 hours.
“The embedded insurance cover offered as part of the Revolut Ultra plan is a game-changer,” says Balazs Gati, General Manager Insurance from Revolut. “This is a truly innovative offering that brings peace of mind to our Ultra users when booking their holidays; whether it’s a hotel, airbnb, flight, train or event, they can book knowing they’re covered.”
“We are excited to partner with Revolut and help bring incredible value to their users,” said Quentin Colmant, CEO and Co-founder of Qover. “With the peace of mind that comes with the trip and event cancellation cover, customers can rest easy knowing that they are protected against unforeseen circumstances that could impact their plans. Our emphasis on customer experience means that we can process claims quickly and easily, making this new offering a valuable service for all.”
Source: Qover
