Insurtech Qover joins forces with Yonder to transform travel insurance

26 Mar 2024

Insurtech Qover, which specialises in embedded insurance orchestration, has partnered with UK-based credit card fintech Yonder to offer a “seamless and comprehensive” travel insurance experience.

Through the partnership, customers of the rewards-based credit card will be covered for travel and accommodation expenses paid for with their Yonder card, including delayed departures or cancellations, family cover, winter sports, lost or stolen baggage, and personal liability.

The insurance cover, which is underwritten by Lloyd’s of London, becomes active as soon as someone signs up for Yonder’s full membership.

Users can now easily access insurance coverage details, generate instant travel certificates, and check their claim status directly from the Yonder app.

Push notifications will also keep users informed about any changes in their claim status, should they make one.

Tim Chong, chief executive officer and co-founder of Yonder, said: “We believe credit is a broken sector in desperate need of a rebuild, and our partnership with Qover is an exciting step towards revolutionising credit for the next generation.

“By integrating Qover’s embedded insurance solutions, we’re able to offer our full membership customers more freedom and less stress when they travel, reinforcing our commitment to making credit more empowering.”

Qover’s chief executive officer and co-founder Quentin Colmant pointed to the significance of the partnership in its mission to build a “global safety net through innovative insurance solutions”.

“By working with Yonder, we are not only reinforcing our vertical domination in the fintech and financial services sector, but are also contributing to the evolution of financial resilience narratives on a global scale,” Colmant added.

At the end of last year, Yonder added variable recurring payments alongside its direct debit functionality, through its partnership with bank payment company GoCardless.

Earlier in the year, UK-based workplace pension provider Smart Pension began working with Yonder to help provide pensions to international employers with remote workers in the UK.