London and Eindhoven, NL, Aug. 1, 2023 – Cover Genius, the leading insurtech for embedded protection, and Sendcloud, Europe’s largest shipping platform, have joined forces to offer merchants enhanced claims handling for global shipments with more than 100 logistics carriers.
Sendcloud’s customers – online retailers who handle the shipping of products to online shoppers – will therefore benefit from up to a 20-day reduction in claims processing times and 20% drop in claim-related costs†. This is regardless of which logistics carrier merchants use to ship products. XCover, Cover Genius’ award-winning global distribution platform for any insurance or other type of protection, protects the full retail value of shipments from online sellers in more than 40 countries in Europe and can provide instant payment of claims in more than 90 currencies.
“Together with Sendcloud, we offer online retailers unique and global support through a convenient one-stop online claims process, compatible with all existing carriers and most product categories,” said Justin Turner, Vice President of Strategic Partnerships, Global Shipping for Cover Genius. “Traditional insurers’ legacy systems have contributed to poor customer outcomes and limited opportunities for global improvements and personalization. With this partnership, we are thrilled to offer an end-to-end solution that helps protect online retailers and their customers.”
“Online sellers are being held accountable when parcels get lost, often costing them a lot of time and money,” said Rob van den Heuvel, Co-Founder and CEO of Sendcloud. “Our partnership with Cover Genius ensures that we offer our merchants the best and most cost-effective protection. Thanks to the fast and stress-free claim procedure, we not only save them time and money, but also provide their customers with the best service. This has a positive result on customer satisfaction and the reputation of their business.”
Through XCover, Cover Genius offers a global end-to-end solution that supports all types of shipments, from packages to freight shipments. This new partnership seamlessly integrates XCover with Sendcloud’s Application Programming Interface (API) and all 100 integrated logistics transportation systems. As a result, all claims made by online retailers can be found in one place. Merchants will no longer need to seek out differing protection options among various carriers, resulting in a simpler and faster claims process for them and their customers.
About Sendcloud
Founded in 2012, Sendcloud is the end-to-end shipping platform for ecommerce businesses. Backed by SoftBank and trusted by 25,000 companies across Europe, Sendcloud is on a mission to solve shipping globally. The platform enables retailers, marketplaces, and fulfillment companies to scale their shipping operations and deliver exceptional shipping experiences.
About Cover Genius
Cover Genius is the insurtech for embedded protection. Through XCover, our global distribution platform for any insurance or other type of protection, we protect the global customers of the world’s largest digital companies including Booking Holdings, owner of Priceline and Booking.com, Intuit, Hopper, Ryanair, Turkish Airlines, Descartes ShipRush, Zip and SeatGeek. We’re also available at Amazon, Flipkart, eBay, Wayfair and SE Asia’s largest company, Shopee.
Together with our partners, we co-create solutions to embed tailored, optimized protection that’s licensed or authorized in over 60 countries and all 50 U.S. states.
In addition, we provide customers with a seamless, end-to-end experience via XCover.com. XCover.com handles customers’ needs – from the initial sale through to administration and claims, resulting in an industry-leading post claims NPS of +65. Its award-winning service design has shown to reduce support tickets by 7x.‡
† Cost savings are based on a comparison of all Cover Genius shipping protection versus published carrier rates for Fedex, UPS, DHL, USPS, UPS, Old Dominion, DHL, XPO Logistics, Estes Express Lines, YRC and TForce Freight as at June 27, 2022. Time savings are based on average resolution times (i.e. the duration from initial filing to completed payment) for all XCover shipping protection claims as at May 31, 2022 (sample size = 868) compared with the industry average time including payment settlement (min. 6 days) and period to acknowledge a filed claim.
‡ 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. Inquiry statistics are derived from an internal analysis of 1,355 random XCover support inquiries from December 2022, of which 1,258 (93%) had not activated their XCover account and 97 (7%) had
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