Cover Genius, an insurtech company with bases in London, New York and Sydney, has announced that it has expanded its partnership with online car rental company Rentalcars.com. Cover Genius became the rental company’s preferred insurance partner back in 2015; under the new terms of the partnership, Rentalcars.com will now have access to the Cover Genius Xclaim API, a technology platform that enables instant claim payments in over 90 different currencies.
The payment solution, specifically designed for use by travel companies and other online businesses that have branched out into insurance-based products and services, will be used by Rentalcars as a supplement to the end-to-end capability that Cover Genius already provides, which enables online business entities to quickly and smoothly roll out and sell personal or commercial insurance.
“Our Xcover technology is configurable for any line of insurance,” commented Angus McDonald, CEO and co-Founder of Cover Genius, “making it simple, quick and accessible for global travel eCommerce businesses to push a new insurance product live. One way of looking at the technology is to compare setting up an insurance framework in the traditional way, requiring dozens of staff to establish incorporated companies and associated licences and compliance activities, versus a single elegant API call.”