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Poland’s first motor insurance offered by a bank on mobile. Products offered by mtu24.pl, You Can Drive and ERGO Hestia available from Bank Millennium.

22.08.2016


Never before was it so simple to insure a car, motorcycle or scooter. Soon Bank Millennium will be the first bank in Poland to offer motor insurance completely online – both in the mobile app as well as in the Millenet transactional system. The process of buying insurance will be unique and innovative. Bank Millennium as the first bank on the market will use Aztec code scanning from the vehicle’s registration certificate. Thanks to the solutions applied, buying the insurance will be intuitive and fast.

The innovative solution allows customers of Bank Millennium to buy Third Party Only insurance or Comprehensive insurance as well as Roadside Assistance, Personal Injury and window glass cover. In line with the bank’s multichannel strategy the customer may start the purchase in the mobile app and complete it in the Millenet transactional system or vice versa. After scanning the code from the registration certificate (using the mobile app), the vehicle’s data will be uploaded automatically and – which is unique – they will appear both in the mobile app and in Millenet. The customer’s personal data will also appear automatically, thus it will be sufficient to answer a few short questions to finalise the insurance purchase. The customer can save the application at any time and continue working on it in whatever device. 

- It is an important project for us and another step in development of electronic banking. In the innovative process of obtaining insurance we have i.a. made use of scanning of Aztec code from the vehicle’s registration certificate and we have cut back on formalities. Thanks to this buying insurance is fast and intuitive. Initially we will be offering motor insurance however we are already working on expanding our range to include travel insurance. The next step will be home insurance. We have built a flexible platform; open for other partners and for other types of insurance, hence in the future we want to use it to offer much more. It is our ambition to give Bank Millennium’s customers a choice of competitively priced attractive insurance products, which can be purchased in the simplest possible way – Ricardo Campos, Director of the Electronic Banking Department in Bank Millennium said. 

Bank Millennium’s first partner in the new project is ERGO Hestia Group. In result of the cooperation, apart from simplifying the purchase of motor insurance by using an Aztec code scan, the bank’s customers have been offered the possibility of splitting the insurance contribution into 12 monthly payments without extra fees, which will allow them i.a. to buy a broader range of insurance cover. This option is available irrespective of the contribution amount and the monthly payments will be collected automatically from the customer’s account. This is in response to the change of insurance prices on the market – splitting the contribution into monthly payments will make them less of a burden on customers. When selecting a single payment the customer may choose whether they want to pay from the account or by credit card. 

- The choice of our first partner was my no means a coincidence. We were looking for an offer, which would apply to the broadest possible group of Bank Millennium’s customers. Our partner’s products allow us to offer attractive terms and conditions both to affluent customers as well as those who have economy cars. Also young drivers can also expect to get good insurance quotes from us.  - Tomasz Misiak, Director of Retail Banking Marketing Department in Bank Millennium said.

- The decision to cooperate is a consequence of our actions to-date – both our companies have for years now been focused on implementing breakthrough technologies for our customers – Małgorzata Harasimiuk – Grodzka, Office Director of Direct ERGO Hestia. In ERGO Hestia Group’s strategy, apart from the primary agency channel we are also developing the direct insurance sales model. This involves the popular products from the mtu24.pl and You Can Drive ranges. We are proud to be co-authoring Poland’s first solution, which allows insurance to be bought end-to-end in a phone by means of the bank. The new insurance sales formula is targeted at people who prefer direct forms of purchasing all sorts of goods and services, insurances included. This is ERGO Hestia Group’s response to the needs of those customers for whom the internet as well as mobile devices are their natural element – Małgorzata Harasimiuk – Grodzka added. 

In the new process customers can purchase of motor insurance products, diversified according to their needs. It can be standard TPO, but also a number of comprehensive insurance options, differing in terms of range of cover, method of loss adjustment or geographic coverage. There is the AC mini insurance for example – standing out on the market, which provides cover for partial and complete losses caused by natural disasters or theft.
Additionally customer can get policy extensions to include such popular insurance as Roadside Assistance (valid in Poland or abroad), Personal Injury or window glass insurance, which protects the no-claim bonus on comprehensive insurance in case of window glass damage. 

Information about Bank Millennium

Bank Millennium is a national universal bank, which offers services to all market segments by means of a network of branches, networks of relationship managers as well as electronic banking. The bank’s creators and shareholders were from the beginning striving to create a modern institution, which would draw on the best traditions in banking, competing successfully in all segments of the financial market.
Bank Millennium is an innovative bank and a precursor of breakthrough technologies in electronic banking. It was one of the first in Poland to introduce i.a. fingerprint logon to the mobile app; a smartwatch app; an RWD transactional system or using a fingerprint to authorise 3D Secure transactions. As of end of June 2016 the number of customers actively using electronic banking exceeded 906,000 and this is 15% more than a year ago. The number of users of mobile banking has more than doubled in the course of the year.

Information about ERGO Hestia Group

It is made up of two insurance companies: STU ERGO Hestia SA and STU na Życie ERGO Hestia SA. The Group offers property and life insurance for personal customers as well as insurance for industry and small and medium enterprises. Property insurance is offered through 4 brands: ERGO Hestia, MTU, mtu24.pl and You Can Drive. The Group’s CEO is Piotr M. Śliwicki.
Sopockie Towarzystwo Ubezpieczeń ERGO Hestia was established 25 years ago and in a free market environment has grown to become one of the largest insurance companies in Poland. ERGO Hestia has set direction many times for development of the Polish insurance market and has gained recognition by customers and business partners thanks to innovation and high quality of loss adjustment. 
The Group has more than 2.4 million personal customers and small and medium-sized businesses as well as largest corporations. We insure every second company from the top 100 list in Poland. Proof of the Group’s dynamic development is the fact that we are issuing a new insurance policy every 13 seconds. In 2015 we handled over 600,000 claims – taking a decision every minute to pay indemnity. The main shareholder of ERGO Hestia Group is the international ERGO Versicherungsgruppe insurance group, which belongs to the largest reinsurer - Munich Re.