Prima Assicurazioni, the insurtech company that focuses on motor insurance policies, has announced an important strategic agreement with iptiQ, the digital and white-label insurance provider of the Swiss Re Group.
As a result of the agreement, Prima Assicurazioni has been able to enhance its platform with the products of iptiQ, enabling the new foreign partner to increase its presence on the Italian market through a company experiencing ongoing and rapid growth, both via the direct channel and its network of agents and brokers. In turn, Prima Assicurazioni will be able to rely on a sound and innovative international ally, enabling the insurtech to differentiate its product offering and strengthen its already excellent positioning on the insurance market, earned in just a few years by means of an effective data driven approach.
iptiQ is a digital platform and “B2B2C” white-label insurance provider owned by the Swiss Re Group, the aim of which is to make the insurance policy purchasing experience more innovative and accessible through the use of advanced digital technology. Operational in 10 countries across 3 continents, iptiQ offers fully customised digital insurance solutions.
Prima Assicurazioni, an insurance agency specialised in motor insurance policies, has been operational since 2015 and is the fastest growing tech company on the Italian market. Suffice it to say that its active clients in July 2020 were 800,000, double the 400,000 of the year before. These important results have lead Prima Assicurazioni to rank 8th in – and to be the only Italian in the top 10 of – Deloitte’s prestigious Technology Fast 500 Emea 2019 program, which picks out the 500 companies, from 22 countries, that have recorded the fastest-growing revenues during the previous four years.
“We are delighted to embark on this strategic partnership with Prima Assicurazioni and to launch our P&C products on the Italian market” - commented Sascha Türck, Head of Business Development and Distribution at iptiQ EMEA P&C. “Prima Assicurazioni and iptiQ,” - continued Türck - “share a very similar DNA and a complementary vision of the growing importance of technology, digital or otherwise, in the insurance sector. We feel that this will give us the opportunity to explore further opportunities together.”
“Working side by side with our iptiQ colleagues in recent months has strengthened our belief that the two companies share the same innovative mindset and tech approach, as well as an extraordinary talent, passion and energy” - commented Massimo Bambini, Chief Underwriting Officer at Prima Assicurazioni, who promoted the project on behalf of the Milan-based tech company. “The agreement,” - added Bambini - “has what it takes to be a big success in the long-term and to create value for all the stakeholders involved. We are confident that the collaboration will open up interesting new opportunities, in line with our growth strategy”.