6. XCOVER IS AN INSURANCE DISTRIBUTION PLATFORM
The API dynamically bundles policies for any territory, currency and language.
The XCover API generatesa
warranty or insurance
productfor any productsale
worldwide. For example:
1. A Millennial is shopping
online for bicycles. During the
transaction, XCover returns
tailored warranty/insurance
protection.
2. A Baby Boomer visits a
brick & mortar store. XCover
bundles jewelry insurance
and separate protection for
electronics from 2 different
insurers.
7. ● We make5,000 claims paymentper month:
○ From dozens of bank accounts
○ Into 90+ currencies
● Industry benchmarks:
○ 18-22 days for traditional insurers to issue payment once a claim is
approved.
○ Claims NPS for traditional insurers: -15 to +10
● Why are payments so hard?
- Sending bank checks
- Input errors for bank details
- Accurate bank account requirements and translations for +90
currencies/countries
- Monolithic legacy software systems
- Internal bureaucratic processes
- Banks are slow to notify if payment fails
WHY WE NEEDED INSTANT PAYMENTS
8. THE XCLAIM EXPERIENCE
Instantpayments
in 90+ currencies.
24/7 assessment and
end-to-end translation
in 40+ languages
Integratedplatform for
quotes, bookings and claims
Platform includes FNOL
configurator for any line plus
scientific fraud detection.
9. REDUCING CLAIM PROCESSING TIMES FOR SHIPRUSH
Claim completion times from 20 days to 24 hours
Descartes partnered with Cover Genius to
create Total Shipping Protection: a more
customer-centric solution for their ShipRush
customers.
Our focus on building automation features
into our fully configurable XClaim platform
allowed us to quickly iterate.
Our simplified carrier-agnostic approach,
coupled with our XClaim technology and
operational in 60+ countries and 50 US
states, enables logistics partners to offera
wide range of custom coverages like porch
piracy, general average, liability and delivery
failure to suit their customer needs.
The result: a reduction in claim processing
times from 20 days to 24 hours.