Embedded InsurTech Cover Genius has partnered with global buy now, pay later (BNPL) company Zip, to offering tailored protection embedded in the payment process.
The partnership will see XCover, Cover Genius’ global insurance distribution platform, integrated into Zip’s alternative payment platform.
Cover Genius said this will provide a “seamless customer experience” that is designed for ultimate flexibility. The feature will give Zip Pay and Zip Money customers the ability to add protection to their Zip purchase, either during checkout or after checkout on select purchases, making it an affordable and timely alternative.
Angus McDonald, co-founder and CEO of Cover Genius, said, “With the global BNPL market expected to reach $680B by 2025, we’re thrilled to partner with Zip to protect the growing number of worldwide BNPL customers.
“Zip is a popular payment option and is uniquely positioned to protect their customers at point of sale but it also has a tremendously loyal and engaged customer base, meaning they’re able to further develop the relationship with embedded protection in their popular wallet, while also doing away with arcane multi-year products backed by traditional insurers who produce poor customer outcomes.”
Cover Genius recently acquired Booking Protect, an embedded ticket protection provider.
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