The product is designed to provide customers of ‘travel, booking, and registration’ firms with an immediate, for-any-reasons cancellation option.
Pattern stated that the policy ‘integrates into the booking pathway of online travel agencies, event booking companies, and any business dealing with non-refundable reservations’, to ‘effectively transform them into refundable bookings’.
The coverage will be available via Pattern’s embedded protections platform in all regions where the company currently operates. Additionally, the service will be offered as a standalone product to online retailers.
“Trip cancellation products like ‘cancel for any reason’ (CFAR) have always come with their fair share of limitations and are not widely available with every purchase, which has been confusing and frustrating to many of our customers,” said Ido Hertz, Pattern’s Head of Product Management.
“This is not your standard CFAR insurance. It is easily configured and embedded in every business, booking and customer journey in minutes, and using machine learning, it addresses every flexibility need, with a personalized cancellation service,” he added.
Pattern also recently announced that it will offer embedded travel protection via Amadeus’s iHotelier digital platform.