Carwiz International has teamed up with leading insurtech firm Companjon to introduce an innovative cancellation protection policy, setting a new standard in the global car rental industry. The agreement, signed at Carwiz’s annual company conference in Zagreb, Croatia, will offer customers within the European Economic Area (EEA) the option to cancel their car rental bookings for any reason and receive up to 80% of the booking cost back, with no documentation required.
This groundbreaking “Cancel For Any Reason” protection represents a first in the global car hire market and is expected to provide Carwiz customers with a greater degree of flexibility and convenience. Customers will be able to opt for this added protection when making a booking for a small additional fee. They can then cancel their reservation up to 48 hours before the scheduled rental period and instantly receive a refund of up to 80% of their booking cost.
The cancellation policy, designed to address last-minute changes and unforeseen circumstances, will be available to Carwiz customers booking within the EEA, with plans to expand its availability in the near future.
Speaking at the signing event in Zagreb, Carwiz CEO Krešimir Dobrilović expressed enthusiasm about the partnership. “We are thrilled to offer this industry-first cancellation protection to our customers, creating a new level of flexibility for anyone who may encounter unexpected changes in their plans,” Dobrilović said. “At Carwiz, we are committed to delivering an exceptional rental experience, and this agreement with Companjon demonstrates our dedication to innovation and customer satisfaction.”
Companjon will serve as the technology provider, underwriter, and risk carrier for the new service, using its advanced platform to facilitate the seamless implementation of the cancellation feature. The Dublin-based company, founded in 2020, has built a reputation for developing insurtech products tailored to meet the evolving needs of modern consumers, particularly in the travel and mobility sectors. The firm’s solutions employ advanced technologies, such as artificial intelligence and machine learning, to offer real-time, dynamic protection for customers in over 30 countries across Europe and North America.
Companjon CEO Matthias Naumann praised the partnership as a significant step forward for both companies. “We are proud to support Carwiz in delivering this revolutionary service to their customers. Our goal is to make insurance simple and accessible, and with this offering, we are taking a major leap in enhancing the customer experience in the car rental industry. This solution reflects our shared vision of being there for customers when life happens, and we are excited to see the positive impact this will have on Carwiz’s customer base,” Naumann said.
The new cancellation policy is set to be available to Carwiz customers before the end of 2024, with both companies eagerly anticipating the benefits it will bring to the car hire market. As Carwiz continues to expand its franchise across Europe, the partnership with Companjon is expected to play a key role in strengthening the company’s commitment to customer satisfaction and flexibility.
By offering customers a simple and straightforward cancellation option, Carwiz and Companjon are poised to set a new benchmark for the car rental industry, ensuring travellers can adapt their plans without facing financial losses.