UpperEat and InterMundial introduce the first cancellation insurance for corporate lunches and dinners

UpperEat, the first B2B booking and marketing platform connecting restaurants with companies (a finalist in the recent 2022 Emprendedoras Awards), created by young Spanish entrepreneur Louise Koefoed, announces the creation of the first cancellation insurance for corporate lunches, dinners, and events, in collaboration with InterMundial, a specialist in travel insurance. This pioneering insurance, available in two versions, provides peace of mind against any setbacks in the hospitality sector—a industry hit hard by the pandemic and in great need of protection against the dreaded "no-shows." Restaurants will be able to offer this solution to their clients at the time of booking as a recommended form of protection.

The project is also well-received by restaurateurs. "This solution addresses a problem and a demand from the hospitality sector, which was hit hard by the pandemic. It is necessary to implement cancellation policies that help restaurants boost their activity and contain losses in the face of unforeseen situations, while also giving their clients extra peace of mind," notes José Luis Yzuel, President of the Spanish Hospitality Confederation.

For companies, this insurance reinforces confidence in returning to group gatherings at restaurants—such as the upcoming Christmas lunches and dinners—without worrying about potential setbacks, including a positive COVID test among staff.

The UpperEat and InterMundial insurance guarantees that companies will be reimbursed for event cancellation costs, provided the cancellation is due to specific justified causes—over 30 are covered. Additionally, the VIP option includes emergency medical and health assistance expenses, medical transport to the place of origin, extended stays, and support, telephone assistance, and advisory services.

EXTRA PEACE OF MIND FOR RESTAURANTS AND COMPANIES

UpperEat, a company specializing in connecting restaurants and businesses, identified this market need in a post-pandemic landscape that has changed many hiring and consumption habits and demands greater flexibility. They decided to present the initiative to InterMundial, a leader in finding risk solutions for the tourism and hospitality sector, to create a mutually beneficial alliance for all stakeholders in the industry.

In the words of Louise Koefoed, CEO and founder of UpperEat, "The ultimate goal is for restaurants and companies to finally feel secure and protected thanks to this insurance. It is a step forward toward the professionalization of the sector, implementing cancellation policies that make sense and lead both companies and restaurants to connect and speak the same language they use with travel agencies or airlines.""Companies will feel more secure confirming reservations knowing that there is someone behind them protecting their event deposits. This could even accelerate advance payments to restaurants; we could be talking about a near future where companies start prepaying for events further and further in advance, which would provide some breathing room for restaurants," explains Koefoed.

For Manuel López, CEO of InterMundial and Vice President of the Spanish Tourism Board, "This solution helps reactivate business activity for both restaurateurs and companies in any sector. Restaurants that sign up have extra backing that helps them contain losses due to market conditions and, at the same time, gain a competitive advantage with their clients. For companies, it is an opportunity to secure their events and keep their businesses moving. Furthermore, it is very interesting for travel agencies and event specialists, both in their role as influencers and distributors, as it now allows them to complete their range of services."

ABOUT UPPEREAT

UpperEat is the leading B2B booking platform connecting restaurants and companies, boosting weekday sales for restaurants and marketing them under the Executive Restaurants of the World brand. For companies, UpperEat serves as a single-source restaurant provider, allowing them to control, manage, and save on dining expenses while providing a premium, personalized service. In doing so, it attracts and retains corporate clients by delivering the best user experience from start to finish.

ABOUT INTERMUNDIAL

InterMundial is the leading company for risk solutions in the tourism and events sector. With nearly thirty years of experience, InterMundial offers the best insurance options and exclusive services for both industry businesses and end consumers.