Case studies

An embedded Insurance solution to protect your purchases

Our partner

Stocard is an application which offers to gather in one place all the fidelity programs, and to have the best offers in our favorite place. Stocard has been created in 2012, and now have 65 millions users in more tha 40 countries in 2022. The swedish fintech company Klarna bought Stocard in 2021.

The context

The Stocard application allows to gather every fidelity program together, to accumulate points linked to those programs and to discover exclusive offers made by the partners directly in the application. In 2020, Stocard decided to complete its offer with the integration of a payment mobile solution to its application, called Stocard Pay, to be able to propose to its user a new solution for payings purchases. In order to enhance Stocard pay and to develop its use, Stocard made the choice of adding free fonctionnalities and services, including an insurance product. This product allows to protect the purchases made with Stocard Pay, in case of breakdown or theft, 45 days after the purchase.

Stocard was looking for a partner, to build together integrated insurance solutions, to be able to meet the best standard on the market, especially with the customer service solution. Another requirement was to benefit from a support in terms of insurance ingeniery, to be able to conceive a legal framework to allow Stocard to distribute an insurance product including Stocard Pay in serveral countries.

The solution brought by Moonshot

Moonshot Insurance proposed a legal framework adapted to Stocard's needs, which allows Stocard to distribute its insurance product included in Stocard Pay simultaneously in five countries, right from the start. This structure allows to add any country any time. Regarding the customer experience, Moonshot Insurance first permitted, throught an integration via API, to activate the purchase protection product at the subscription of Stocard Pay, and allows the clients to benefit from an integrated insurance with the payment solution.

Stocard and Moonshot Insurance also build an optimised claims process, which permits Stocard Pay users to initiate a claim from the related transaction directly in the application. This means that they don't have to prove that one of the key condition to benefit from the insurance is respected, and that the purchase in question has been paid with Stocard Pay. Finally, the integration via API between Stocard and Moonshot Insurance, permits to give the indemnisation linked to the insurance product directly in the Stocard Pay account of its beneficiary.

Achievements

Moonshot Insurance has been able to answer the differents requets of Stocard , in a timely fashion. The legal framework proposed permitted to limitate the validation demands from the regulators. At the same time, the close collaboration between Moonshot Insurance and Stocard allowed to launch the product simultaneously in five countries, within 8 months.

The facilitation of the subscription and indemnisation journey also have been a source of satisfaction from Stocard and its clients since those have benefited since the first day of their subscription of an integrated insurance in the payment solution, which allows to reduce the numbers of receipts to provide, shortening the delay for treating the claim.

The satisfaction on both parts, and in particular the adaptability of Moonshot Insurance , as shown by the testimony of the CEO of Stocard , allows to open new discussions regarding the extension of the integrated insurance program to others products.

“ Die Verwaltung von Versicherungsverträgen ist für uns von zentraler Bedeutung. Die Partnerschaft mit Moonshot Insurance hilft uns, der großen Nachfrage unserer Kunden nach Vereinfachung, Flexibilität und vor allem nach einer bedarfsgerechten Betreuung gerecht zu werden.”

Björn Goss

Co-founder