![]() ![]() I would also want to be paid back the convenience fee. I will incur interest fees on my credit card if I wait until Neptune refunds me. The transaction was canceled within 30 minutes. She is rudely repeating that they have to hold onto my money for services I canceled within the correct window.I would like my premium refunded immediately since Neptune has no reason to hold on to it for 14 days. She is also telling me that she can't expedite the refund in any way. ***** is telling me that this is common practice and she is sorry that I never experienced it before in a similar cancellation situation. They will have to hold on to the amount for 14 days to ensure they have it to return it. This is unacceptable! I called Neptune and spoke with *****, who insisted they can not refund me the money because they don't have it yet. I will have to pay my credit card before they return my funds incurring a double payment. However, the convenience fee will not be returned to me and the premium charged to my credit card will be refunded in 30 days. The policy was canceled within 30 minutes. The agent also told me that if I am not happy with the terms of the policy and the charged fee she will cancel the policy immediately and I will be refunded the premium amount. The agent called me back saying that a convenience fee of 19 dollars was charged at the time on top of the premium. My agent paid the premium in full with my credit card. A consumer service aimed at freelancers is set to follow later this year.On I purchased flood insurance from Neptune through my agent ****** Insurance. Significance of development: The start-up will use the funding to further its growth and offering for gig economy platforms. What's happening: Collective Benefits has secured £3.3m ($4.2m) in a seed funding round. Who's involved: London-based insurtech Collective Benefits, which offers health insurance and sick pay to freelance workers venture capital investor, Stride VC, and existing investors Delin Ventures, Insurtech Gateway and several angels from executives at Uber, Deliveroo and Urban. Ĭollective Benefits raises £3.3m in funding Significance of development: The partnership aims to offer advanced analytics to insurers. What's happening: Milliman and Enova Decisions have announced a strategic alliance. Who's involved: Consulting and actuarial firm, Milliman,and US technology and analytics company, Enova Decisions. According to Neptune, its technology provides a two-minute process for buying flood insurance. Significance of development: Louisiana is the second largest market for flood insurance in the US given its unique geography and history of catastrophic flooding. What's happening: Neptune Flood has officially opened for business in Louisiana becoming the 39 th US state it has launched in. Who's involved: Florida-based online flood insurance company Neptune Flood. Significance of development: A 2019 consumer survey conducted by market research firm GlobalData revealed customers are already weary about having their driving assessed and smaller telematic providers will not wish to lose customer trust or business to more high-profile offerings. The spokesperson added that inevitably as with any new technology there will be "things along the way that we can learn from and improve upon". When this issue became apparent in April 2019 we acted as quickly as possible to put things right and prevent anyone else experiencing similar problems or being disadvantaged in any way." The BBC reported more than 20 young drivers have told the Victoria Derbyshire programme they experienced technical issues with the app - in some cases causing them to either have their insurance cancelled, or end the policy themselves.Ī spokesperson for Carrot told InsuranceERM: “We are extremely sorry that some of our customers have had a poor experience with our Better Driver app and telematics devices. What's happening: Young drivers have allegedly been threatened with having their car insurance cancelled due to alleged faults with Carrot Insurance’s app that aims to make policies more affordable. Who's involved: Telematics provider Carrot Insurance App flaws 'drive' car insurance cancellations ![]()
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