Irish InsurTech Companjon teams with Novus to improve flight insurance

Irish InsurTech Companjon teams with Novus to improve flight insurance

Ireland-based InsurTech company Companjon has teamed up with neobank Novus to transform UK customer experiences in insurance for flight delays.

This strategic partnership supplies Novus customers with an end-to-end embedded insurance solution, Flight Delay Benefit. The new tool automatically monitors flight data and immediately pays compensation to policyholders if they experience a delay.

Flight Delay Benefit covers flight delays on departure, starting from thirty minutes delay. Customers experience a no-touch, automated claims experience and will receive immediate payout directly into their Novus account after a full delay has occurred.

 The service will soon be available for purchase on the Novus app.

Companjon CEO Matthias Naumann said, “We’re excited to offer Novus customers an insurance solution that is transparent, frictionless when it comes to claims and payouts, and overall built to create a positive experience when things don’t go according to plan.

“To meet the rising expectations of today’s digital-driven consumers, Flight Delay Benefit is value-driven and seeks to take away the frustration consumers face when they experience a delayed flight.”

Companjon designed and built the solution to fit Novus’ ecosystem and integrate seamlessly into its customer journey. Data-driven capabilities allow for real-time analytics and full end-to-end digitalisation, creating a user experience that is smooth and satisfying.

Novus is on a mission to become a ‘Super App’ for the conscious consumer segment. As part of this effort, it is helping members make a positive and measurable impact from their everyday spending, supporting social and environmental issues.

The company recently partnered with sustainability-as-a-service provider ecolytiq to launch a sustainable banking app to market. Through the deal, Novus customers can receive transparency on their personal carbon footprint with each payment transaction and understand the carbon currency attached to every purchase.

Speaking on the partnership with Companjon, Novus CEO Hristian Nedyalkov said, “We are so excited to partner with Companjon to launch our very first insurance offering that covers travel delays. While we have other types of insurance in the pipeline to support our community’s needs, I can’t wait for Novus cardholders to experience the ease and quickness of the event-driven insurance claim and payout process when you use your Novus card for flight bookings and your flight is delayed.

“The mission of Novus is to be the super app for the conscious consumer and offering insurance that is planet-friendly and creates a positive impact is another step in that direction.”

Companjon creates fully digital, end-to-end embedded insurance products. The B2B2C company tailor makes solutions that bring automation and flexibility to insurance. Its goal is to change how people think about insurance through seamless and positive experiences.

It was named in the most recent InsurTech100 list, which highlights the most innovative InsurTech companies that players in the industry need to know about.

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