FinTech start-up Rewire, which develops an online financial services platform for expatriate workers, has partnered with InsurTech Quover and insurer AIG to protect its customers.
An outcome of this partnership is a built-in accident insurance product which covers Rewire customers with free plans in 18 countries across Europe.
Rewire customers automatically benefit from the insurance, as long as they transfer at least €200 per calendar month with their Rewire account.
To submit a claim, users can go to the Rewire website and fill out an online form in just a few minutes. Under the policy, the customer or beneficiary receives a one-time payment of up to €5,000 in the event of dismemberment, paralysis or accidental death.
Rewire said it sees accident insurance as a way to incentivise loyalty amongst its customers. The embedded solution covers remitters in case of accidental death and dismemberment, providing crucial security for migrants and their family members who are dependent on their income.
Guy Kashtan, Rewire co-founder and CEO, said, “Our goal is to create a holistic migration package that caters to the unique cross-border financial needs of migrants — an underserved population that faces many bureaucratic challenges on their way to building a better, more financially secure future for themselves and their families.”
“Protecting our customers through accident insurance is a very significant step towards fulfilling the company’s vision.”
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