Insurtech Qover has announced a second partnership with Revolut to provide embedded insurance for its newest trip and event cancellation cover.
In 2020, Revolut, a digital bank, sought a partner to offer innovative insurance solutions across multiple European countries through a single technical integration.
Qover’s expertise aligned with Revolut’s needs and helped develop insurance products for its banking customers.
Now in 2023, Qover is supporting the new Revolut Ultra plan.
The new trip and event cancellation cover, underwritten by European insurer Wakam, is designed to offer customers the flexibility to cancel their trip and event plans for a variety of reasons.
All cancellation fees for specific reasons are covered, while up to 70% are covered without a specific reason.
As part of this plan, customers will also benefit from a 24-hour claims payment guarantee.
The claims process is also intended to be swift and hassle-free, without unnecessary paperwork from the user.
Balázs Gáti, general manager of insurance at Revolut, described the embedded insurance cover offered as part of the Revolut Ultra plan “a game-changer”.
Gáti continued: “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.”
Quentin Colmant, chief executive officer and co-founder of Qover, added: “We are excited to partner with Revolut and help bring incredible value to their users.
“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.”