EaseMyTrip Teams Up with Cover Genius to Offer Convenient and Flexible Embedded Protection to Global Travelers
‘Cancel For Any Reasons’ (CFAR) protection, supported by AI-backed pricing, gives customers the comfort and flexibility to change their mind without repercussions.
India, Oct 6th, 2023: EaseMyTrip.com, one of India’s largest online travel platforms, today announced its strategic partnership with Cover Genius, the insurtech for embedded protection. By integrating with XCover, Cover Genius’ award-winning global distribution platform, EaseMyTrip customers can add Cancel For Any Reason (CFAR) travel protection along with the embedded comprehensive travel protection when they book their tickets. Customers will benefit from XCover’s end-to-end customer experience that handles all of the customers’ needs – from the initial sale to administration and claims. Its award-winning service design has shown to reduce support tickets by 7x.‡
CFAR is becoming increasingly popular, with both consumers and online travel agencies (OTAs), because it provides a seamless experience that eliminates paperwork when making any refund request. Additionally, for OTAs, it removes the need for insurance licensing.
Purchasing travel protection is no longer a luxury but a necessity and traditional insurers are not keeping up with the change. A recent survey conducted by Momentive.ai, commissioned by Cover Genius, revealed that 13% of Indian travelers who made a claim for pandemic-related reasons were not covered despite purchasing travel insurance for pandemic protection. Furthermore, 32% of Indian travelers would prefer to buy protection from embedded sources like their travel provider, agent or airline ‒ rather than traditional insurance sources such as credit cards, which deliver a significantly lower post-claim NPS (Net Promoter Score).
Speaking about the partnership, Rikant Pittie, Co-Founder, EaseMyTrip, said, “With an increase in demand for domestic and international travel, Cover Genius has the global expertise we needed to curate tailor-made protection, backed by AI, that offers customers seamless experiences and flexibility. CFAR is a one-of-a-kind solution that will assure our customers in unforeseen circumstances.”
Barney Pierce, SVP, Strategic Partnerships, APAC for Cover Genius said, “Travel protection is no longer an after-thought but a must-have, and not only that, it must now be fit-for-purpose, ready to serve and encourage travelers with protection that covers all manner of uncertainties and ‘what-ifs’. We are excited to partner with EaseMyTrip and offer its customers innovative and bespoke products that are dynamically priced and easily accessible.”
About Cover Genius
Cover Genius is the insurtech for embedded protection. Through XCover, our global distribution platform for any insurance or other type of protection, we protect the global customers of the world’s largest digital companies including Booking Holdings, owner of Booking.com and Agoda, and Ola. We’re also available at Amazon, MakeMyTrip, Flipkart, Pepperfry, BetterPlace and Shopee.
Together with our partners, we co-create solutions to embed tailored, optimized protection that’s licensed or authorized in over 60 countries and all 50 US States.
In addition, we provide customers with a seamless, end-to-end experience via XCover.com. XCover.com handles customers’ needs – from the initial sale through to administration and claims, resulting in an industry-leading post claims NPS of +65. Its award-winning service design has shown to reduce support tickets by 7x.‡
‡ The score includes any type of claim and claim outcome across our partner network except for those partners with less than 30 claims and those not assessed by Cover Genius. Inquiry statistics are derived from an internal analysis of 1,355 random XCover support inquiries from December 2022, of which 1,258 (93%) had not activated their XCover account and 97 (7%) had.
EaseMyTrip (a public listed company at NSE and BSE) is India’s one of largest online travel platforms in terms of air ticket bookings, based on the Crisil Report-Assessment of the OTA Industry in India, February 2021. Furthermore, growing at a CAGR of 59% during FY20-23 in profits, it is one of the fastest-growing internet companies. Bootstrapped and profitable since its inception, EaseMyTrip offers ‘End to End’ travel solutions including air tickets, hotels and holiday packages, rail & bus tickets as well as ancillary value-added services. EaseMyTrip offers its users the option of zero-convenience fees during bookings. EaseMyTrip provides its users with access to more than 400 international and domestic airlines, over 2+ million hotels as well as train/bus tickets and taxi rentals for major cities in India. Founded in 2008, EaseMyTrip has offices across various Indian cities, including Noida, Delhi and Gurugram, Bengaluru, and Mumbai. Its international offices (as subsidiary companies) are in the Philippines, Singapore, Thailand, the UAE, the UK, the USA and New Zealand.