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tbi bank and Safety Broker launch a partnership offering Romanians interest-free installment insurance, including RCA
Consumers’ need for access to new efficient financing tools has increased in the current economic context, including in the insurance sector, where the cost of insurance policies is on an upward trend. tbi bank, one of the leading challenger banks in South East Europe offering flexible payment solutions, has partnered with one of the leading insurance brokers in Romania, Safety Broker. Customers can buy insurance, including RCA through the Buy Now, Pay Later (BNPL) solution in 4 interest-free installments or 6-12 installments with interest.
In 2023, insurance companies authorised and regulated by the Financial Supervisory Authority (ASF) wrote gross premiums of about 18.2 billion lei, up about 10% from 2022, according to data presented by the ASF.
”Costs continue to rise, including insurance premiums, and consumers need smart financing solutions to help them maintain their standard of living. We stay close to our customers and conclude a new agreement with a strong player in the insurance sector, Safety Broker, in order to offer Romanians the possibility to pay more easily the RCA insurance or other insurance solutions they need, without putting pressure on the family budget”, said Ionut Sabadac, VP Merchant Solutions, tbi bank.
BNPL financing solutions are easily accessible and allow consumers to spread the total cost of any purchase in equal installments. With this tool, customers can make more purchases or buy higher value products, while retailers have access to a new tool that can better meet consumers’ needs.
Safety Broker de Asigurare, present since 2005 on the Romanian market, is one of the main players on the Romanian insurance distribution market, being part of the American group Acrisure, one of the most important insurance brokers in the USA.
At the end of 2023, the company brokered premiums of about 271 million euro.
”Our customers’ access to RCA insurance has always been a priority for us, especially in a difficult economic context. Through our agreement with a strong partner like tbi bank, we can offer consumers a smart solution for quick and easy purchase of any insurance policy”, said Viorel Vasile, CEO, Safety Broker de Asigurare.