PassportCard

insurtechclaims

FOUNDING YEAR:
LOCATION: United Kingdom
Last Update: 08/09/2020

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About

PassportCard Real-time travel insurance solution revolutionizes the relationship between the insurer and its customers, introducing a new holistic approach with no out-of-pocket expenses, no paperwork and no long claim process, available already to hundreds of thousands of travelers. It is the world’s first travel insurance solution facilitating claims payout in real time – on the spot when the customer really needs it! In a price driven market characterized by low engagement where Uber, Amazon and Airbnb are setting the customer’s service expectations, PassportCard’s award winning solution is an opportunity for leading insurers and assistance companies to offer an innovative co-branded disruptive service and superior customer experience. Based on its Big-Data and predictive analytics technologies and global payment platform, PassportCard is operating in Germany and Canada both in collaboration with Allianz and in Israel, where in less than 4 years it has reached 30% market share, high customer satisfaction and 85% customer return rate! As part of its global penetration strategy, PassportCard is currently expanding into the UK travel market, Scandinavia and other significant markets. PassportCard, a UK based company, is a Joint Venture between White Mountains Insurance Group (NYSE: WTM) and DavidShield. For more info www.passportcard.com

Focus

PRODUCTS & SERVICES

REAL-TIME TRAVEL INSURANCE SOLUTION

REVENUE MODEL

PassportCard franchises its unique solution to major travel insurance and medical assistance companies and its expansion strategy is to collaborate with existing travel insurers in each territory. PassportCard target is to enhance the product offering, process and customer journey of leading players around the world. PassportCard is fully committed for the success of its solution implementation and hence the business model is based on revenue sharing of the Real-time premium related products. In each project there is an initial set-up fee for the deployment phase, though the major compensation fee is based on the premiums revenue sharing.

company provided insights

Traction

REVENUE COMMENT:

we have 3 paying customers.

TRANSACTIONS VALUE:

60.00

ACTIVE USERS:

over 400,000

ACTIVE USERS COMMENT:

active users relates to the operation in our Israeli subsidiary and in Germany.

company provided insights

People

BOARD MEMBERS AND ADVISORS

Alon Ketzef

White Mountains

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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Passportcard

About

PassportCard Real-time travel insurance solution revolutionizes the relationship between the insurer and its customers, introducing a new holistic approach with no out-of-pocket expenses, no paperwork and no long claim process, available already to hundreds of thousands of travelers. It is the world’s first travel insurance solution facilitating claims payout in real time – on the spot when the customer really needs it! In a price driven market characterized by low engagement where Uber, Amazon and Airbnb are setting the customer’s service expectations, PassportCard’s award winning solution is an opportunity for leading insurers and assistance companies to offer an innovative co-branded disruptive service and superior customer experience. Based on its Big-Data and predictive analytics technologies and global payment platform, PassportCard is operating in Germany and Canada both in collaboration with Allianz and in Israel, where in less than 4 years it has reached 30% market share, high customer satisfaction and 85% customer return rate! As part of its global penetration strategy, PassportCard is currently expanding into the UK travel market, Scandinavia and other significant markets. PassportCard, a UK based company, is a Joint Venture between White Mountains Insurance Group (NYSE: WTM) and DavidShield. For more info www.passportcard.com

Focus

PRODUCTS & SERVICES

REAL-TIME TRAVEL INSURANCE SOLUTION

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Traction

REVENUE COMMENT:

we have 3 paying customers.

TRANSACTIONS VALUE:

60.00

ACTIVE USERS/ACCOUNTS:

over 400,000 Million

ACTIVE USERS COMMENT:

active users relates to the operation in our Israeli subsidiary and in Germany.

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Our aim is to proceed with the global expansion and grow the no. of users.

CHANNEL STATUS

INITIAL CLIENTS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

3

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Series A
Apr 2015
USD21 M
at a USD42 Mvaluation

Comment on Valuation

post money valuation
Series B
USD0.00