Barcelona-based group fintech 11Onze has teamed up with insurance coverage firm Tuio, to supply a singular market proposal – 11Onze Segurs. It’s a tech-driven, agile, clear, inexpensive residence insurance coverage service for its members.
The house insurance coverage coverage is between 15 and 20% cheaper than the common coverage available on the market. It affords a month-to-month subscription of as little as 5 euros per 30 days.
According to the founding goals of 11Onze, it persistently seeks services and products which can be group and environmentally pleasant. With creeping inflation in Europe, individuals are looking for higher and extra inexpensive offers.
“We provide instruments that make it simpler for our group to handle their cash by decreasing important bills. That’s why we’re launching 11Onze Segurs, the place our brokers will aid you get the perfect residence insurance coverage at the perfect value and with advantages for society,” mentioned James Séne, Chairman, 11Onze.
“Our residence insurance coverage proposal is straightforward” he defined, “We get rid of pointless paperwork and hidden clauses and we’re clear. We don’t need our prospects to overpay for canopy they don’t want, and we element what’s and isn’t lined. We even have a month-to-month subscription, so that they solely pay for what they want, after they want it.”
“As well as, as we’re dedicated to society, we ensure that many of the income are usually not distributed to shareholders and managers, however the NGOs of our prospects’ alternative. The 11Onze accomplice on this product is a licensed B Corp, a worldwide motion of individuals and corporations that need to have a optimistic impression on society, making an attempt to be a part of the answer and never a part of the issue.”
11Onze Segurs’ method subverts the standard insurance coverage mannequin. Usually, corporations attempt to save on claims to keep up their income. Within the new mannequin promoted by 11Onze Segurs, 25% of what’s paid for the insurance coverage is the insurance coverage firm’s earnings. The remaining 75% goes to cowl claims and NGOs.
Raul Casado, Head of Advertising and marketing and Gross sales at 11Onze (CMSO) defined, “The brand new insurance coverage product brings collectively every little thing we have to supply the perfect product to our group, with an inexpensive value and really aggressive protection. This is a bonus that we will supply to our prospects who’re a part of the 11Onze group”.