Source: Finovate
Via the partnership, Mastercard will leverage Qover’s technology to provide return shipping cost protection to refund shipping fees when retailers do not offer free returns.
Qover’s platform makes return protection both easy and accessible. A combination of automation and advanced data extraction, driven by AI, enables users to find coverage details or submit a claim with just a few clicks and get instant updates on the status of their claim. Mastercard’s return protection reimburses shipping costs for returns, covering up to $31 (€30) per return, with a maximum of three claims or up to $95 (€90) per cardholder per year.
“Embedded protection is becoming a strategic tool for businesses to enhance customer value and build loyalty,” Qover Co-founder and CEO Quentin Colmant said. “We’re honored by Mastercard’s trust and are excited to bring this innovative solution to their cardholders.”
Qover provides an embedded insurance orchestration platform that empowers companies to embed insurance into their core offering. The company’s modular platform can accommodate any product or distribution channel and leverages automation and both GenAI and OCR technology to provide advanced data extraction that streamlines key components of the claims process.
“We’re excited to unveil this new solution in collaboration with the rising star of European insurtech, Qover,” Mastercard Belgium and Luxembourg Country Manager Henri Dewaerheijd said. “This unique protection reinforces the value of Mastercard credit cards for online purchases and enhances the online shopping experience for our Belgian and Luxembourg cardholders.”
Read the full article: https://finovate.com/insurtech-qover-teams-up-with-mastercard/
