‘Cancel For Any Reasons’ (CFAR) protection, supported by AI-backed pricing, gives customers the comfort and flexibility to change their mind without repercussions
New Delhi, Oct 5th, 2023: EaseMyTrip.com, one of India’s largest online travel platforms, today announced its strategic partnership with Cover Genius, the insurtech for embedded protection. By integrating with XCover, Cover Genius’ award-winning global distribution platform, EaseMyTrip customers can add Cancel For Any Reason (CFAR) travel protection along with the embedded comprehensive travel protection when they book their tickets. Customers will benefit from XCover’s end-to-end customer experience that handles all of the customers’ needs – from the initial sale to administration and claims. Its award-winning service design has shown to reduce support tickets by 7x.‡
CFAR is becoming increasingly popular, with both consumers and online travel agencies (OTAs), because it provides a seamless experience that eliminates paperwork when making any refund request. Additionally, for OTAs, it removes the need for insurance licensing.
Purchasing travel protection is no longer a luxury but a necessity and traditional insurers are not keeping up with the change. A recent survey conducted by Momentive.ai, commissioned by Cover Genius, revealed that 13% of Indian travelers who made a claim for pandemic-related reasons were not covered despite purchasing travel insurance for pandemic protection. Furthermore, 32% of Indian travelers would prefer to buy protection from embedded sources like their travel provider, agent or airline ‒ rather than traditional insurance sources such as credit cards, which deliver a significantly lower post-claim NPS (Net Promoter Score).
Speaking about the partnership, Rikant Pittie, Co-Founder, EaseMyTrip, said, “With an increase in demand for domestic and international travel, Cover Genius has the global expertise we needed to curate tailor-made protection, backed by AI, that offers customers seamless experiences and flexibility. CFAR is a one-of-a-kind solution that will assure our customers in unforeseen circumstances.”
Barney Pierce, SVP, Strategic Partnerships, APAC for Cover Genius said, “Travel protection is no longer an after-thought but a must-have, and not only that, it must now be fit-for-purpose, ready to serve and encourage travelers with protection that covers all manner of uncertainties and ‘what-ifs’. We are excited to partner with EaseMyTrip and offer its customers innovative and bespoke products that are dynamically priced and easily accessible.”
