Cover Genius and Scandinavia’s largest travel group Etraveli have become insurance partners to broaden the range of markets cover can be sold in.
Etraveli insurance will be powered by Cover Genius’ XCover insurance distribution platform that enables e-commerce business to sell personal and commercial insurance to their global customers.
The company will also have access to XClaim, Cover Genius’s instant claims payment solution.
XClaim allows for instant payment of approved claims and in over 90 currencies via bank transfers, e-wallets, store credits and top-ups to credit cards and virtual prepaid cards.
Cover Genius’s API global network will allow Etraveli to overcome legacy restrictions in insurance and serve customers in over 60 countries 40 languages across the company’s brands including gotogate.com, Flygresor.se and mytrip.com.
Stefan Born, Etraveli Group director of ancillary sales, said: “We have experience of selling insurance policies with various structures, 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.
Angus McDonald, Cover Genius co-founder and chief executive officer, said: “Our XCover platform is configurable for any line of insurance, making it simple, quick and accessible for eCommerce sites that operate in multiple geographies to push a new insurance product live.
“XClaim is a key feature that allows customers to receive instant claim payments in 90+ currencies, or to receive a ‘store credit’ to spend back on the partner’s website.
“This has been a tough challenge for traditional travel insurers for whom the average payment time is 20 days after approval. We’re proud that our technology can be thanked for industry-high NPS averages of 65+ for claims.”