Qover, an insurtech primarily based in Brussels, Belgium, has partnered with Mastercard to supply return transport price safety when retailers don’t supply free returns.
The service is on the market to Mastercard credit score cardholders in Belgium and Luxembourg; Qover plans to increase the service to further European international locations.
Qover made its Finovate debut at FinovateEurope 2018 in London.
Belgium-based insurtech Qover, which made its Finovate debut at FinovateEurope 2018, has teamed up with fellow Finovate alum Mastercard to boost the net buying expertise for Mastercard credit score cardholders in Belgium and Luxembourg. Through the partnership, Mastercard will leverage Qover’s know-how to supply return transport price safety to refund transport charges when retailers don’t supply free returns.
Qover’s platform makes return safety each simple and accessible. A mix of automation and superior knowledge extraction, pushed by AI, allows customers to seek out protection particulars or submit a declare with just some clicks and get on the spot updates on the standing of their declare. Mastercard’s return safety reimburses transport prices for returns, protecting as much as $31 (€30) per return, with a most of three claims or as much as $95 (€90) per cardholder per 12 months.
“Embedded safety is turning into a strategic instrument for companies to boost buyer worth and construct loyalty,” Qover Co-founder and CEO Quentin Colmant stated. “We’re honored by Mastercard’s belief and are excited to deliver this revolutionary answer to their cardholders.”
Qover offers an embedded insurance coverage orchestration platform that empowers firms to embed insurance coverage into their core providing. The corporate’s modular platform can accommodate any product or distribution channel and leverages automation and each GenAI and OCR know-how to supply superior knowledge extraction that streamlines key elements of the claims course of.
Obtainable in additional than 32 international locations in Europe, Qover affords a variety of insurance coverage options together with accident, mobility, journey, property, and buy insurance coverage. The corporate is planning so as to add journey cancellation and motor third occasion legal responsibility (MTPL), in addition to protection for unintentional injury, breakage, or theft of high-value belongings reminiscent of cellular units and home equipment, within the close to future. The newly introduced service is on the market to Mastercard credit score cardholders in Belgium and Luxembourg; Qover plans to increase the service to further European international locations.
“We’re excited to unveil this new answer in collaboration with the rising star of European insurtech, Qover,” Mastercard Belgium and Luxembourg Nation Supervisor Henri Dewaerheijd stated. “This distinctive safety reinforces the worth of Mastercard bank cards for on-line purchases and enhances the net buying expertise for our Belgian and Luxembourg cardholders.”
Based in 2016 and headquartered in Brussels, Qover made its Finovate debut at FinovateEurope 2018. Extra just lately, Qover was featured in CNBC and Statista’s roster of the world’s high 150 insurtechs. This summer time, the corporate introduced its entry into the motor insurance coverage market in Eire. Qover has raised greater than $71 million in funding, in line with Crunchbase. The agency contains Zurich International Ventures and BlackRock amongst its buyers.
Picture by Fuad Udemans
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