iptiQ and WiZink in bancassurance deal

Swiss Re’s digital B2B2C insurer iptiQ has partnered with digital bank WiZink to focus on the Spanish and Portuguese markets.

iptiQ and WiZink said they are committed to designing more than ten life & health and property & casualty insurance products for Spain and Portugal.

WiZink, a digital bank focussing on consumer finance, will offer its two million customers a diversified range of simple, personalised, and digital insurance solutions which will be marketed via its website and app.

iptiQ said the bancassurance deal strengthens its presence in Spain, where it has been operating since 2018, and enables Swiss Re’s InsurTech to set foot into the Portuguese market.

Successful innovative bancassurance, iptiQ said, requires digital ecosystem orchestration on a digital marketplace, bringing together products, services, and data insights into one platform. iptiQ’s platform enables partners, such as banks, to further leverage their data, strengthen sales activities and launch innovative insurance products – addressing customers’ needs throughout the insurance cycle.

Andreas Schertzinger, CEO iptiQ EMEA, said, “We are thrilled to be working with a fully digital bank with which we share the common objective of providing an excellent customer experience. Offering both embedded L&H and P&C insurance solutions to our newest partner’s two million customers is a next step for iptiQ to becoming a leading player in powering bancassurance across Europe.”

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