FCA Bank, a ban dedicated to motorists, has teamed up with InsurTech platform Yolo to launch a digital insurance products through a newly-launched dedicated online platform.
The deal sees FCA Bank release an online platform where clients can monitor their policies online.
This new platform will not only expand the sale of insurance products to FCA Bank’s customers, but also customers of its Leasys subsidiary and other companies in the FCA Group.
In conjunction with this announcement, the bank announced it is releasing two new insurance products. The first is an insurance policy to cover the health of pets and the second will support customers in the case of hospitalisation, convalescence and mandatory quarantine, due to the pandemic.
Yolo is a digital insurance brokerage app which helps consumers access on-demand insurance policies for travel, items, health and people. Consumers can takeout products for either a daily or monthly basis.
The InsurTech closed a €5m Series A round last January from Neva Finventures, Barcamper Ventures, Net Insurance and Miro Ventures.
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