Swiss fintech firm Numbrs and German insurance giant Allianz have entered in a cooperation agreement for purchasing insurance coverage on mobile devices.
The agreement will enable users of the Numbrs app to buy insurance products entirely through their mobile devices in just two minutes.
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Concurrently, Allianz Germany has made its ‘Mein Haushalt’ (My Household) product available through Numbrs app in the Money Store.
The Money Store operates as an independent distribution platform for financial products, which is available as a function within the Numbrs app.
According to Numbrs, My Household is a simple, easy to understand and cheap entry-level insurance coverage.
In future, Allianz Partners’ full travel insurance product will also be provided via Numbrs.
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By GlobalDataNumbrs Personal Finance founder and CEO Martin Saidler said: “We have been witnessing a clear trend towards mobile banking for years, and not just among the ‘digital natives.’ Our users are accustomed to organising their lives entirely via their smartphones and expect a product range in the financial services sector that covers all areas of life.
“In particular, this also includes insurance. We are delighted to have found a renowned partner in Allianz with whom we can offer not only high-performance products but also jointly simplify the purchase of insurance coverage, thus making it user-friendly.”
Allianz Beratungs und Vertriebs head of bancassurance and project management Rainald Kirchberg said: “The cooperation goes beyond product offerings for the Money Store — we also want to work together to develop fast and simple application processes as well as new functionalities for mobile applications.
“Our core competencies as an insurer and the know-how of the technology company Numbrs can therefore complement each other very well.”
Numbrs currently manages 1.5 million bank accounts. It is one of the widely used financial apps in Germany and has been downloaded two million times.
