Braintri Drives Insurtech Innovation in Europe
Braintri announced this week that its insurance subscription platform, hiPRO Connector, is going live as part of a new agreement with Benefia, a division of Vienna Insurance Group. The launch follows a successful deployment of the platform with Allianz, and builds on the Polish company’s recent partnerships with PKO Bank Polski and fellow Finovate alum, mBank.
The platform, developed in collaboration with Polish fintech hiPRO, enables customers to pay for their car insurance in monthly installments – a relatively new option in the industry. Customers provide information such as earnings, employment type, and number of dependents. The Connector randomly selects a participating bank which then reviews the customer’s credit in real-time.
The loans are financed by a bank, rather than the insurer – in this instance, Estonia’s Inbank and Poland’s Alior Bank. Braintri CEO Wojciech Zatorski pointed out that this means insurers are exposed to less risk, and gives banks the ability to sell micro loans. The platform launch will take place over several Benefia sales channels, including mobile.
Braintri’s announcement comes after a year of significant achievements, including the company’s merger with Finovate alum, iCompass, announced in November. Earlier in the year, the company was recognized for its contribution to PKO BP’s IKO mobile app.
“We entered 2019 with the feeling we achieved most of our goals,” Zatorski said in a statement. “Winning over new big brands proves that our efforts in providing the current customers with world-class IT services are noticed and appreciated.” With a nod toward the company’s yet-to-be completed merger, as well as planned expansion internationally, Zatorski added, “This will surely be the busiest year in Braintri’s six-year history.”
Braintri demonstrated its Jiffee payments solution at FinovateFall 2017, earning Best of Show honors. Based in Warsaw, Poland, and founded in 2013, the company returned to the Finovate stage in 2018 to demo its technology as part of FinovateEurope.
Interested in learning more about the latest fintech innovations from Europe? Join us for FinovateEurope 2019, February 12 through the 14, at London’s Tobacco Dock.