Pattern Insurance Unveils FlexIt: Revolutionising Cancellation Flexibility for Non-Refundable Bookings

Pattern, an insurtech specialising in tailored embedded insurance and non-insurance products, announced a launch of a new service offering, FlexIt.

Designed to grant unparalleled flexibility when it comes to non-refundable bookings, FlexIt enables travel, booking, and registration vendors to provide their clients with a hassle-free cancellation option, no questions asked. According to the most recent Path to Purchase report from Expedia, 28% of travelers seek travel companies that offer lenient cancellation policies or refundable rates. Pattern’s platform addresses this demand through FlexIt.

FlexIt seamlessly integrates into the booking process of Online Travel Agencies, event booking firms, and any entity handling non-refundable reservations, effectively converting them into cancellable bookings. This new offering revolutionises the customer experience by eliminating the necessity for intricate claim forms or rigid justifications for cancellations.

Joyce Segall, Global Head of Insurance Innovation and Strategy at Pattern, states, “Today’s consumers are looking for maximum flexibility around refundability with the ability to cancel without the hassle of filling out claim forms or deciphering a list of covered reasons. FlexIt allows consumers to book with confidence knowing they can cancel their booking for any reason, no questions asked.”

FlexIt’s coverage spans all the areas where Pattern conducts its operations, ensuring a worldwide presence. Current Pattern clients can easily avail themselves of FlexIt via Pattern’s integrated protection platform. Moreover, the service is accessible as a separate option for potential online retailers in search of cancellation flexibility or as part of a broader protection package.

Ido Hertz, Head of Product Management, explains, “Trip cancellation products like CFAR have always come with their fair share of limitations and are not widely available with every purchase, which has been confusing and frustrating to many of our customers. This is not your standard CFAR insurance. We’ve reimagined this product based on market needs. It is easily configured and embedded in every business, booking and customer journey in minutes, and using machine learning, it addresses every flexibility need, with a personalised cancellation service.”

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