Qover, an insurtech based mostly in Brussels, Belgium, has partnered with Mastercard to offer return delivery value safety when retailers don’t supply free returns.
The service is offered to Mastercard credit score cardholders in Belgium and Luxembourg; Qover plans to develop 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 reinforce the web purchasing expertise for Mastercard credit score cardholders in Belgium and Luxembourg. By way of the partnership, Mastercard will leverage Qover’s know-how to offer return delivery value safety to refund delivery charges when retailers don’t supply free returns.
Qover’s platform makes return safety each simple and accessible. A mixture of automation and superior knowledge extraction, pushed by AI, allows customers to search out protection particulars or submit a declare with only a few clicks and get immediate updates on the standing of their declare. Mastercard’s return safety reimburses delivery prices for returns, overlaying 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 changing into a strategic instrument for companies to reinforce buyer worth and construct loyalty,” Qover Co-founder and CEO Quentin Colmant mentioned. “We’re honored by Mastercard’s belief and are excited to convey this revolutionary answer to their cardholders.”
Qover gives 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 offer superior knowledge extraction that streamlines key elements of the claims course of.
Accessible 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 harm, breakage, or theft of high-value belongings comparable to cell gadgets and home equipment, within the close to future. The newly introduced service is offered to Mastercard credit score cardholders in Belgium and Luxembourg; Qover plans to develop 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 mentioned. “This distinctive safety reinforces the worth of Mastercard bank cards for on-line purchases and enhances the web purchasing expertise for our Belgian and Luxembourg cardholders.”
Based in 2016 and headquartered in Brussels, Qover made its Finovate debut at FinovateEurope 2018. Extra 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, based on Crunchbase. The agency consists of Zurich International Ventures and BlackRock amongst its buyers.
Photograph by Fuad Udemans
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