Embedded Insurance: Revolut, Qover’s Protection Enables Clients to Cancel Trips for Any Reason

Qover, the Insurtech that is transforming the insurance industry with its orchestration technology, 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.”

Exclusive to the new Revolut Ultra plan, this product, “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.”

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.”

The process is “swift and hassle-free, 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.”

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.”

Balazs Gati, General Manager Insurance from Revolut, said:

“The embedded insurance cover offered as part of the Revolut Ultra plan is a game-changer. 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. 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.”

Qover’s modular platform “caters to the diverse needs of the modern consumer, operating seamlessly across Europe with a single API integration.”

Recognizing the shift in customer expectations towards hyperconnected experiences, Qover’s innovative product “offers a fast time-to-market solution, creating a cohesive Pan-European approach.”

High-quality customer service is “a priority for Qover, and the company ensures a personalised experience with support available in over 10 languages.”

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