Intersafe wants to make money not on motor vehicle policies but on other products. As a result, it will offer compulsory driver insurance at very attractive prices
In March, a new mobile application for purchasing insurance - Intersafe is to be launched. You will be able to compare offers from various insurers and buy a policy of your choice. You will also use it to report the damage, without having to write down a statement. As the creators of the app convince, it is enough to take pictures of the car and mark in the form what was damaged .
The operating model of a company that does not plan to earn on motor insurance, but only on other insurance products that will be added to the application over time, is particularly interesting. As a result, Intersafe will be able to offer customers interested in purchasing third party liability insurance lower premiums than its competitors. It is worth recalling that when choosing third party liability insurance, vehicle owners are guided mainly by the price (which is understandable, as the scope of coverage is regulated by the law and is the same for every insurer).
The car owner will be able to additionally benefit from recommending the application to new users. A customer who registers with his name and phone number will receive access to a special panel in the application. There he will find a code generated for himself, which he will be able to pass on to other people interested in the service. For each insurance contract under which his code is provided, he will receive a voucher with a value exceeding even 10 per cent of the policy price. This voucher can be exchanged for money after 30 days.
A 30-day delay in payment is a measure to prevent possible fraud. The developers of the application want to avoid a situation in which the contract concluded via the Internet will be terminated after the bonus is paid to the referring user. "In the panel, the client will find information on how many users have already used his code. And most importantly, the money that he earns in this way will be tax-free", Michał Wojciechowski, president of Intersafe, told cashless.pl. As he emphasizes, the company obtained legal and tax opinions confirming the legality of such a system.
On the other hand, the main source of Intersafe's revenue is to be the sale of additional insurance, such as other property and travel insurance, or even smartphone display insurance. Their purchase will be automatically offered to customers when they may need it, which is to be possible thanks to the artificial intelligence mechanisms embedded in the app. Users will be informed about the possibility of purchasing insurance by push notification, SMS or e-mail.
This business model distinguishes Intersafe from other entities selling insurance via the mobile application. Previous projects of this type, such as Play Ubezpieczenia or Teraz by Aviva, ended in a fiasco. However, betting on the most popular insurance, i.e. motor third party liability insurance, and at the same time ensuring competitive prices, can help attract the right number of customers. Also, financial bonuses for promoting the application may contribute to the popularization of the solution. Especially if, for example, car service employees or even the insurance agents themselves became interested in recommending.
The startup will act as an insurance multiagent. It has already signed contracts with companies such as Generali, Uniqa, TUZ and Wiener, and is finalizing talks with Ergo Hestia, which manages the MTU24 and You Can Drive brands. It also plans to establish cooperation with other insurers. After starting in Poland, Intersafe intends to try its hand at other markets as well. The Baltic countries are to go first.
The Intersafe app itself cannot be downloaded yet, as final work is underway before its release to the market. Soon, however, it will appear in both the Google Play store and the AppStore.