Cover Genius teams up with Intuit QuickBooks
Cover Genius has teamed up with Intuit to offer QuickBooks customers earthquake insurance.
The first solution being offered, Shake Shield, is a parametric insurance solution built by Cover Genius and Swiss Re and available via Cover Genius’ XCover insurance distribution platform. The product is underwritten by Palomar Excess and Surplus Insurance Company and reinsured by Swiss Re.
QuickBooks will have access to a world’s-first API-based parametric insurance platform that fully automates claim assessments and payments, meaning QuickBooks customers can quickly get onto firmer ground after an earthquake hits. No physical inspections are required and no waiting for checks in the mail. Instead, US Geological Survey data is processed in real time and payments are made quickly into a designated bank account following a successful claim submission. The award-winning XCover platform is highly regarded within insurance circles for its achievements in claims and support that have meant its partners benefit from an industry-leading NPS of 65+.
“Cover Genius’ superior technology and customer-first approach align well with our overall strategy to deliver the right tools and services to help small businesses succeed and offer peace of mind to our customers. In the current climate, businesses are looking for products that can help protect them when things go wrong and Shake Shield is the first of many that we will explore with Cover Genius.” – Head of SMB Insurance for Intuit, Mauricio Comi.