Protection Pocket

Protection pocket:
Real-time protection using transaction data

Through Protection Pocket we enable digital banks, fintechs, and retailers to make protection an integrated part of their customer journey through our award-winning global distribution platform, XCover, available at Amazon and some of the world’s largest marketplaces including eBay, Wayfair, Zip, Flipkart and SE Asia’s largest company, Shopee. Protection Pocket allows you to offer real-time protection for any insurance lines or warranties that are relevant to your customers’ purchasing journey, either at the time of checkout or post-purchase through transaction monitoring, making it easy to deliver a seamless customer experience that boosts loyalty for your brand.

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Customized offers, tailored to each individual customer

Consumers are turning to online shopping more than ever for purchases big and small. When it comes to protecting those purchases, studies by PYMNTS.com show that they would prefer to get protection from their primary financial institution rather than an insurer.

After all, financial institutions have the advantage of knowing what purchases they make and providing relevant offers that match in real time through embedded protection. For added convenience, protection is auto-renewing with the option to update at any time.

Through transaction monitoring and automated product categorization capabilities, we help you use existing data to add increased value to your overall customer experience. Our award-winning XCover API leverages Natural Language Processing to make real-time product recommendations and optimizes price. For example, if someone buys baby nursery products, not only could they be offered protection on those items, but also life and health insurance to prepare for the big milestone. Offers are stored in one place — aka the “Pocket” — and can be managed through the customer’s app or account at their own convenience.

If a customer needs to make a claim, they can do so through Protection Pocket for a truly seamless, end-to-end experience. Our API integrations provide instant payments of approved claims in more than 90 currencies, delivering high customer satisfaction backed by an industry-leading NPS of +65‡.

AI-BACKED PROTECTION FOR BANKING & FINTECH CUSTOMERS

Geniebot is the AI behind our Protection Pocket solution. With Geniebot, digital banks and fintechs can offer their customers protection tailored to everything from their items to their investments.

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Every insurable item, in one place

As with any XCover API integration, the solution can be customized however you like. In this example, a checkout provider is selling a warranty as an auto-renewing subscription where the value can be credited to other recent purchases made using the app.
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To reduce friction caused by irrelevant offers, BrightWrite — our real time analytics platform within XCover — uses NLP to identify that the item is insurable and returns an optimal price.
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Your customer can view their Protection Pocket at any time and add protection for recent purchases. We'll work with you to determine the lookback period.
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When adding protection, recent purchases are itemized. Via the BrightWrite service within the XCover API, the item is categorized and an optimized price is returned.
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When adding protection, your customers can top up their Protection Pocket where required.
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Customers can modify their warranty subscriptions and switch coverage to another item from their recent transactions.
Watch our solutions come to life
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Available At Amazon: How XCover uses NLP to Optimize Price and Product Recommendations
Available At Amazon: How XCover uses NLP to Optimize Price and Product Recommendations
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How eBay integrated XCover to provide lifetime protection to their millions of customers
How eBay integrated XCover to provide lifetime protection to their millions of customers
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How Flipkart builds brand loyalty and CLTV by embedding protection through XCover
How Flipkart builds brand loyalty and CLTV by embedding protection through XCover

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Get in touch and discover how our global insurance distribution platform can help grow your business.

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