The Austrian insurtech startup bsurance has won the services of FinTech startup cashpresso, also from Austria, as a cooperation partner.
The digital insurance solution from bsurance will enable an automatic buyer protection for the customers of the payment provider cashpresso. The insurance product is provided by AXA Partners meaning that this is the third major insurance partner, in addition to UNIQA and Munich Re, that has been won as a further product provider and risk carrier.
The digital insurance solution from bsurance enables buyer protection for cashpresso customers
cashpresso customers in Austria and Germany will soon be able to benefit from free buyer protection when they use the payment provider. This is valid for exactly one year from the first transaction and for all further transactions during this period.
cashpresso is a user-friendly and flexible way to pay for purchases in instalments. Retailers from various sectors - i.e. electronics, sports, furniture, children's equipment, education and fashion - offer the instalment payment option. Customers can choose the instalment amount, make amends to the duration and change it at any time free of charge. cashpresso has already received several awards such as the 2019 E-Commerce Award Germany, for its user-friendliness.
"When our customers shop online, they should receive the products they have ordered. With cashpresso buyer protection, we reimburse our customers for the purchase price if they have not received an item or order defective goods from a partner shop," explains Managing Director Daniel Strieder.
Lorenz Gräff, CEO and founder of bsurance, is delighted with the cooperation: "It was important for us to add value to the existing cashpresso service with an insurance product. With the buyer protection product, we have achieved this excellently, because it facilitates and supports purchases on the internet, which in turn has a positive influence on the acquisition of new customers by cashpresso, but also on the usage rate among existing customers.
The first bancassurance solution that highlights the potential of bsurance
For bsurance it is already the second cooperation with an Austrian startup after Playbrush. At the same time, the linking of an insurance product to a payment transaction provides an outlook on the many possibilities that the cloud-based, digital insurance platform from bsurance also offers in the area of bancassurance: The cooperation partners are connected to the respective risk carrier via simple interfaces. Policy creation, insurance product and claims management take place in real time and exclusively digitally.
AXA Partners is now the third major insurance partner
During the cooperation with cashpresso, bsurance succeeded in winning AXA Partners as a product supplier and risk carrier. AXA Partners is already the third major insurance partner, alongside UNIQA and Munich Re, to which bsurance has access.
The expansion and growth of bsurance continues
bsurance is now entitled to broker insurance in 31 EU and EEA countries. Since its official launch at the beginning of 2018, the bsurance team has grown to 16 employees, and this figure is expected to double by the end of the year. Work is currently in full swing on further products with cooperation partners that will become available during the coming weeks and months, including a second product with partner Playbrush.