“Insuring collectibles or rare objects during shipment has been difficult and dependent on policies that differ widely from carrier to carrier, but together we have been able to make it a reality,” said Barney Pierce, interim Chief Business Officer, EMEA and APAC, at Cover Genius. “We are excited to be Catawiki’s insurtech partner and offer sellers peace of mind as they ship their, often, emotionally-charged special objects to their buyers – wherever they are.”
“As we continue to grow, we’re constantly looking at ways to improve the experience of our users,” said Janet Baireva, Vice President Product at Catawiki. “Through this partnership we’ll be offering sellers the easiest and most efficient solution to protect their objects during shipment. Sellers will not only benefit from a hands-off approach to any complicated claims procedures but also growth of customer loyalty.”
Embedded Protection Through XCover
The new insurance is embedded directly within Catawiki’s shipping process through Cover Genius’ award-winning global distribution platform for any insurance or other type of protection, XCover. XCover has a seamless claims process that has reduced end-to-end claims finalization with same-day payments or reimbursements on approved parcel claims. Payments for approved claims are processed instantly in more than 90 currencies. Cover Genius’ streamlined approach to protection is up to 20% cheaper than traditional logistics carriers†. This process, resulting in an industry-leading post claims NPS of +65, can help keep Catawiki buyers happy and returning to the platform.
Sellers can opt into the shipping insurance embedded directly in the submission flow of special objects. When ready to ship their item with any logistics carrier, sellers can choose the XCover customized protection solution that fits their needs; the platform handles the claims experience online, from policy purchase to claims administration to payout. The global solution supports all types of packages shipped for the various special objects available on Catawiki.
Time savings are based on average resolution times (i.e. the duration from initial filing to completed payment) for all XCover shipping protection claims as at May 31, 2022 (sample size = 868) compared with the industry average time including payment settlement (min. 6 days) and period to acknowledge a filed claim.
Catawiki is the leading online marketplace to buy and sell special objects. Over 75,000 objects are offered in auction every week – each reviewed and selected by Catawiki’s hundreds of in-house experts specialised in Art, Design, Jewellery, Fashion, Classic Cars, Collectables and much more. Discover special objects for every passion on catawiki.com or download the app.
About Cover Genius
Cover Genius is the insurtech for embedded protection. Through XCover, the global distribution platform for any insurance or other type of protection, Cover Genius protects the global customers of the world’s largest digital companies, including Booking.com, Spirit, Hopper, Ryanair, and Zip. XCover is also available at Amazon, eBay, Wayfair and SE Asia’s largest company, Shopee. Our logistics partners also include Uber, Shippo, Sendcloud, Freightos, ShipStation and more.
Together with their partners, Cover Genius co-creates solutions to embed tailored, optimised protection licensed or authorised in more than 60 countries and all 50 US States.
In addition, Cover Genius provides customers with a seamless, end-to-end experience via XCover.com which handles customers’ needs – from the initial sale through to administration and claims – resulting in an industry-leading post claims NPS of +65. Its award-winning service design has shown to reduce support tickets by 7x.