Companjon News

10 Aug 2022

Companjon partners with emerging impact neobank Novus to bring UK customers new era insurance against flight delays

Companjon partners with emerging impact neobank Novus to bring UK customers new era insurance against flight delays: Companjon & Novus

The strategic partnership brings Novus customers an end-to-end embedded insurance solution - Flight Delay Benefit – that automatically monitors flight data and immediately pays compensation to policyholders if they experience a delay.

Dublin, August 10th, 2022 -- Companjon Services DAC, a leading insurtech specializing in digital-driven embedded insurance, today announced that it has joined forces with mission-driven neobank Novus, to bring its customers end-to-end embedded insurance that protects against flight delays.

Striving to become the ‘Super App’ for the growing conscious consumer segment, Novus enable its members to make a positive and measurable impact from their everyday spending, supporting the most pressing social and environmental issues such as saving species and regenerating nature, carbon offsetting and community education. Novus will be adding more innovation to its service offerings with digital insurance powered by Companjon.

Companjon has designed and developed this solution to custom fit Novus’s ecosystem and integrate seamlessly into its customer journey. Data-driven capabilities allow for real-time claims analytics and full end-to-end digitization, creating a user experience that is smooth and satisfying.

Flight Delay Benefit will cover flight delays on departure, starting from thirty minutes delay, customers will experience a no-touch, automated claims experience and will receive an immediate payout directly into their Novus account after a full delay has occurred. With the user journey being entirely digital, there will be no need for paperwork or long wait times for claims assessments or approvals. Flight Delay Benefit will soon be available to purchase on the Novus app.

"We’re excited to offer Novus customers an insurance solution that is transparent, frictionless when it comes to claims and payouts, and overall built to create a positive experience when things don’t go according to plan”, said CEO of Companjon, Matthias Naumann. “To meet the rising expectations of today’s digital-driven consumers, Flight Delay Benefit is value-driven and seeks to take away the frustration consumers face when they experience a delayed flight."

“We are so excited to partner with Companjon to launch our very first insurance offering that covers travel delays. While we have other types of insurance in the pipeline to support our community's needs, I can't wait for Novus cardholders to experience the ease and quickness of the event-driven insurance claim and payout process when you use your Novus card for flight bookings and your flight is delayed”, said CEO of Novus, Hristian Nedyalkov. “The mission of Novus is to be the super app for the conscious consumer and offering insurance that is planet-friendly and creates a positive impact is another step in that direction.”

About Companjon

Companjon is a leading insurtech based in Ireland specializing in embedded insurance that’s end-to-end and fully digital.  Companjon brings its partners’ customers unique, flexible, and fully automated insurance tailored to their online purchases. Companjon seeks to change the way people think about insurance, by creating seamless and positive experiences when things don’t go as planned. With an extensive portfolio of usage-based insurance solutions, we help our partners enable business growth, increase customer loyalty, and generate additional revenue.

About Novus

Novus is a UK based new digital banking and lifestyle app that helps you make a measurable positive impact on the world through your everyday spending. The app is available to download for free for Android or iOs. To start with, it will be offering basic banking facilities including a Visa debit card and mobile banking app where you can see transactions, set up payments, and view spending insights. Novus will guide and help you to achieve financial wellness, inspire and reward you to live a more sustainable lifestyle, all while creating positive social and environmental impact with every time you use your Novus card.

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