Cover Genius partners with Etraveli to offer immediate payment of travel insurance claims
Australia-based insurtech company Cover Genius has announced a new partnership with Scandinavian travel group Etraveli – an ‘important milestone’ for the insurtech, according to CEO Angus McDonald.
The online travel agent will make use of Cover Genius’ XCover insurance distribution platform – as well as its XClaims instant claim payment solution – to blast through a number of legacy restrictions and offer personalised insurance products and services to its customers. Policies are tailor-made and notably more flexible than might otherwise have been possible, and customers will also have access to instant claims assessment and immediate payment of approved claims.
“We’re able to provide travellers who book through online travel agents like Etraveli and come from any country, who speak any language and use any currency, with personalised policies that align to their lifestyles and purchase behaviour,” said McDonald. “This partnership represents an exciting moment … insurtechs are blazing the insurance industry trail by showing incumbents the disruptive power of tech in simplifying the customer experience and partnering with them directly to steer the transformation of the industry.”
Stefan Born, Etraveli’s Director of Ancillary Sales, praised Cover Genius’ technological solution, saying it had made a very complex process much simpler and more efficient. “We have experience of selling insurance policies with various structures,” he explained, “and are familiar with the limitations, particularly dealing with multiple underwriters across multiple destinations in multiple languages. Working with Cover Genius as our trusted partner, we are looking forward to such pain points being alleviated, so that we can open up our market and policy scope.”
This partnership sees a real deployments of instant payments in the insurance business, an often touted use case of real time payments