?? ???????? ??????????:?Revolut has countered Allianz's ￡10.4m lawsuit, denying breach of contract and blaming Allianz for subpar claims service. The dispute stems from a 2021 agreement where Allianz provided travel insurance to Revolut's premium customers. In May 2023, Revolut switched to Cover Genius, prompting Allianz to claim contract renunciation. Revolut argues the contract didn't demand exclusivity or minimum volumes, and it was free to change providers. Allianz accused Revolut of stopping crucial customer number reports, affecting premium calculations. Revolut contends it only needed to report customers using Allianz's insurance, which ceased after the switch. The bank also refutes Allianz's loss calculations, alleging overestimation and service level failures, including slow claim responses and complaint handling. Allianz, maintaining its stance on service quality, is unable to comment further due to ongoing litigation. Read more: https://lnkd.in/edJn2cui Find this helpful? [ ???????????? ] Anything to add about this subject? [ ?????????????? ???? ?????????????? ] Nice story, Marcel. Next! [ ???????? ] #neobank #revolut #allianz #insurance #insurtech #digitalbanking #bankingapp #challengerbank #banking #bankingindustry #fintech #financialtechnology #fintechindustry #fintechnews?
This is why new players need an agile, partner who has a different business model than the incumbants. I made similiar experiences.
This is a case in point why contractual agreements must be vetted and written properly when it comes to B2B agreements, otherwise execs are bound to make presumptions leading to such circumstances ending in courts!
Why Cover Genius cannot work with Allianz Partners? I will help Allianz Partners to improve their efficiency as broker and tech enabler
Interesting
Connecting the dots in FinTech...
7 个月?? ???????? ??????????:?Allianz Partners and Revolut have settled a lawsuit over an abandoned travel insurance deal that saw the companies trade blows in recent months: https://www.dhirubhai.net/posts/marcelvanoost_%3F%3F%3F%3F-%3F%3F%3F%3F%3Fallianz-partners-activity-7191063035791200256--UdY?utm_source=share&utm_medium=member_desktop