Qover

Operating a tech-driven embedded insurance orchestrator across 32 countries isn't for the faint of heart. For Quentin Colman, CEO of Qover, the challenge wasn't just about managing insurance programs for industry leaders like Revolut, Deliveroo, and Tesla – it was about transforming how insurance payments work at scale. This is the story of how he revolutionized Qover's payment operations through strategic automation and technical innovation.

Setting the stage for innovation

As an insurtech pioneer, Quentin knew that delivering a cutting-edge customer experience was paramount. Yet the payment infrastructure wasn't keeping pace with Qover's innovation across their 32-country operation.

We were looking to add SEPA Direct Debit as part of our solution - it's a must-have in Europe. But we needed more than just a payment provider. We required a solution that understood the unique complexities of insurance payments.

Quentin Colman - CEO, Qover

The core challenges

Before implementation, Quentin and his team faced three critical challenges:

1. Time-consuming manual intervention for failed payments was draining team resources
2. Complex reconciliation processes were slowing down operations
3. Immediate mandate activation was essential for instant contract starts, but difficult to achieve

As our business grew, we needed more than just another payment provider. We required a solution that could handle the complexities of insurance payments while maintaining operational efficiency. The key challenge was finding a platform that could support our tech-first approach while providing the reliability needed for insurance payments.

Quentin Colman - CEO, Qover

Technical implementation: a deep dive

The solution centered around an API-first approach, creating a seamless payment flow that integrated directly with Qover's existing systems. The technical architecture revolves around three core components:

1. Policy purchase integration handles real-time e-mandate generation and activation, enabling immediate contract initiation – crucial for activating insurance coverage the moment a customer completes their purchase
2. Transaction processing manages automated subscription creation and multi-bank routing optimization, continuously tracking transaction status across all connected banks for real-time visibility
3. Failed payment handling represents the breakthrough in operational efficiency, automatically managing customer notifications, applying configurable retry logic, and handling alternative payment routing when needed

The quality of the API and technical interactions with Twikey's team was exceptional. Our developers particularly appreciated the comprehensive documentation and responsive support throughout the integration process.

Quentin Colman - CEO, Qover

Transformative Impact

The results of this transformation have been substantial:

✅ 70% reduction in payment-related administrative tasks, leading to significant cost savings

✅ End-to-end automation from contract activation to payment processing, reducing times from hours to seconds

✅ Enhanced customer satisfaction through streamlined payment processes and faster issue resolution

From a technical perspective, the platform now offers unprecedented operational control through:

✅ A unified interface managing mandates, subscriptions, and transactions through a single API connection

✅ Real-time analytics and reporting capabilities for better decision-making

✅ Streamlined multi-country payment operations with automated compliance handling

Looking ahead: future-proofing payment operations

With this robust technical foundation in place, Quentin continues to scale Qover's payment operations effectively. The platform's flexibility allows for easy expansion into new markets while maintaining standardized payment processes.

The platform's flexibility allows us to focus on our core insurance technology while knowing our payment operations can scale efficiently. We can now concentrate on enhancing our value proposition for partners and building a global safety net for their customers, rather than managing payment operations.

Quentin Colman - CEO, Qover

Sharing experiences and insights: our talk at ITC DIA Europe 2024

Quentin and Dominique, our CEO, took the stage at ITC DIA Europe 2024 to share their firsthand experiences in transforming insurance payments at scale. The discussion provided valuable insights into the challenges of scaling pan-European payment operations, highlighting the strategic automation and technical innovations that made Qover’s success possible.