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 for approved claims in more than 90 currencies, delivering high customer satisfaction backed by an industry-leading NPS.