PassportCard announces takeover of Pattern Insurance

As part of the acquisition, Pattern, a specialist in embedded insurance solutions, will see its development team incorporated into PassportCard’s technology arm, PassportCard Labs.

The move is expected to reinforce PassportCard’s global expansion strategy, allowing the company access to Pattern’s application programming interface (API) based platform.

The platform enables partners, such as travel websites, airlines, and e-commerce platforms, to offer personalised insurance as part of their purchasing journey.

Additionally, PassportCard stated that Pattern’s digital solutions offer clients “advanced tools tailored to their systems, real-time risk assessment, compliance with global regulations, and a unique, proactive customer experience”.

“This acquisition strengthens PassportCard’s strategic axis to become a dominant player in Europe, Australia, and the US, and marks a major leap forward in the digital insurance market by integrating personalized insurance into the flight booking process,” said Alon Ketzef, Founder and President of PassportCard Group.

Pattern Insurance previously announced a partnership with travel booking platform WeTravel to offer travel insurance as part of the booking process last year.