Yahoo Finance Cover Genius and Turkish Airlines Launch Partnership to Bolster Embedded Protection to Global Travelers
NEW YORK and AMSTERDAM, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Cover Genius, the leading insurtech for embedded insurance, today announced a partnership with Turkish Airlines, the largest international mainline carrier in the world, to bolster their comprehensive travel protection to global passengers. With this partnership, Turkish Airlines passengers are protected for international and domestic trips directly in the booking path by Cover Genius’ award-winning global distribution platform, XCover.
“During the pandemic, traditional insurers went missing and travelers were left with policies that didn’t protect them in their time of need,” said Angus McDonald, CEO and co-founder of Cover Genius. “It’s time to modernize travel insurance, and our partnership with Turkish Airlines brings embedded protection with easy-to-understand policies and instant claims payments to millions of global passengers, so they can book their next trip with confidence.”
Cover Genius’ tech-forward approach allows airlines, online travel agencies (OTAs) and other travel providers to seamlessly integrate tailored protection for any source and destination directly within the purchase journey. Customers have the option to dynamically bundle and unbundle coverage so they are protected against their unique concerns and should something go wrong during their travels, they are backed by an industry-leading Net Promoter Score (NPS) of +65‡ and instant claim payouts in 90 currencies.
“We flew new records in July and August of 2022 and increased seat capacity by 14%. It is significant for us to work with an insurtech partner that could keep up with our rapidly growing global footprint. Cover Genius’ tech-forward approach allowed for seamless integration in 56 countries to offer our passengers comprehensive, easy-to-understand protection within the booking path for a convenient travel experience,” said Harun Baştürk, Turkish Airlines’ SVP, Sales (I.Region).
This announcement follows a global travel survey, conducted by Momentive.ai and commissioned by Cover Genius, that shows 45% of travelers would prefer to buy protection from their travel provider, agent or airline again rather than through other sources such as credit cards, which had a post-claim NPS (Net Promoter Score) of -34, a significantly low score in comparison to industry benchmarks. The primary reason for their intention to switch is convenience.
Cover Genius and Turkish Airlines will be presenting together at the World Aviation Festival on October 6th, 2022 at 11:45 AM in the session “The Evolution of Embedded Insurance for Airlines”.
‡ The score includes any type of claim and claim outcome across our partner network except for those partners with less than 30 claims and those not assessed by Cover Genius.
About Cover Genius
Cover Genius is the insurtech for embedded insurance that protects the global customers of the world’s largest digital companies including Booking Holdings, owner of Priceline, Kayak and Booking.com, Intuit, Hopper, Skyscanner, Ryanair, Descartes ShipRush, Zip and SeatGeek. We’re also available at Amazon, Flipkart, eBay, Wayfair and SE Asia’s largest company, Shopee. Cover Genius’ vision is to protect all the customers of the world’s largest online companies through XCover, an award-winning global distribution platform for any line of insurance or warranty, with an API for instant claims payments that holds an industry-leading NPS of +65‡.
Cover Genius and partners co-create solutions that embed protection that’s licensed or authorized in over 60 countries & all 50 US States.
‡ The score includes any type of claim and claim outcome across our partner network except for those partners with less than 30 claims and those not assessed by Cover Genius.
About Turkish Airlines
Turkish Airlines is the national airline of Turkey and the country’s largest carrier. Turkish Airlines operates a network of domestic services throughout Turkey and international services to the Middle East, Europe, Africa, North America, South America and Asia. The carrier operates passenger services via its main hub at Istanbul Airport. The carrier transferred its hub operations from Ataturk Airport to the new Istanbul Airport under a phased programme completed in mid-2019. Turkish Airlines is also a member of the Star Alliance.
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