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Embedded insurance orchestration: the modular insurance fabric to fuel business growth

Thursday 6 october 1:00 PM CEST
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Chief Commercial Officer - Qover
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Chief Commercial Officer
Timm Schipporeit
Partner
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World's leading FinTech Revolut chooses InsurTech Qover to fully redesign its insurance offering across Europe

Published date
December 22, 2020

Neobank Revolut and European InsurTech Qover are pleased to announce their partnership in time for launch of Revolut's fully upgraded plans, including the new highly competitive, affordable 'Plus' plan.

As part of a complete overhaul of its paid plans, Revolut now offers its customers an innovative embedded insurance solution provided by Qover to supporting users across Europe in their daily lives.

On track to building the first truly global financial super app, Revolut was looking to integrate a range of innovative digital insurance products in order to add consistent value to its customers. In light of the common vision and resilience of the two tech players on the European market, the association between Revolut and Qover was an obvious move.

'The Revolut-Qover partnership is a powerful combination. Qover’s understanding of the complex needs of a full-growth FinTech; its deep insurance and technology expertise; and its agile and collaborative approach are uniquely complementary to how we work at Revolut. Qover is one of the only players capable of providing us with a global solution,' said Nik Storonsky, Co-founder & CEO of Revolut. 

Embedded insurance powered by Qover supports Revolut clients in their everyday lives.

The insurance solution is fully integrated into the banking app, giving users access to three different products in real-time, from the ‘Plus’, ‘Premium’ and ‘Metal’ accounts. From the 'Insurance' tab, Revolut clients can browse the insurance policy – including a summary, details and legal documents – as well as report, track and monitor their claims. What's more, a push notification system keeps them informed at each stage of the claims process. 'The user is at the heart of this project , and our teams have worked hard to develop an innovative, easy-to-use solution,' says Qover CEO and Co-founder Quentin Colmant. 'Mission accomplished!'

He continued, 'Revolut needed a partner capable of keeping up to speed and providing a fully digital, Pan-European solution. Thanks to our unique open API infrastructure, we were able to create three new insurance products in record time. We're thrilled with this partnership – which seems only natural to us as we speak the same language. And to carry the risk on a global level, we're happy to count on Chubb!'

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