Yonder rolls out travel insurance to combat travel chaos
By Joy Dumasia
Yonder has added no-excess worldwide travel insurance to its membership perks. Flight cancellations, delays and disruptions have plagued travellers across Europe, while the UK is experiencing a surge in COVID-19 cases. For Yonder’s founders, the rollout of travel insurance is an opportunity to support members when they need it the most.
“Credit card insurance policies can be fraught with loopholes that catch consumers out in their moments of need,” said Yonder’s CEO and Co-Founder, Tim Chong. “Insurance is one of the core benefits of a lifestyle credit card, but the credit industry is shockingly outdated. Just as it’s harder than ever to spend rewards points on something you actually want, policy coverage has also fallen behind the times.”
In light of chaos across the travel industry, Yonder’s insurance covers members for COVID-19, both before departure and at their destination. The policy extended to missed flights and cancelled and delayed departures. It also caters for ‘staycationers’, with coverage for trips within the UK over 100km from home.
Chong continued: “We’re determined to rebuild consumers’ relationship with credit and show that Yonder is a company they can trust. Together with AXA, we’ve built a travel insurance policy around our members’ needs, so they can hit the road with peace of mind.”
Yonder’s travel insurance policy is independently valued at £175 per year and is now available to all members at no additional cost. Through consolidating its travel offering, Yonder hopes to strengthen its position within the lifestyle credit card market, luring customers away from legacy providers whilst appealing to first-time credit card applicants with perks designed for the millennial generation.
IBS Intelligence reported that Ophelos, the technology firm building fairer debt resolution for businesses and their customers, announced its partnership with Yonder, a lifestyle credit card for millennial audiences.
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