LIFE IS HARD invests in Pointer Systems, strengthening its strategy in the insurance direction

Just one day after the announcement on the stock exchange of the success of its bond issue, oversubscribed by 242%, LIFE IS HARD (LIH), a technology company listed on the Bucharest Stock Exchange (BVB), on the AeRo market, announces a new acquisition.

LIFE IS HARD SA acquires, through LIH Ventures, 10% of the shares of Pointer Systems – an entrepreneurial company providing emergency assistance services for unforeseen domestic or mobility-related events. The value of the transaction amounts to €200,000 and will be carried out through LIH Ventures, the investment tool of LIFE IS HARD – a project created to support the development of startups in fields related and complementary to the insurance market.

“By acquiring a relevant stake in Pointer Systems, LIH Ventures aims to accelerate the development of this company operating in a complementary field to our ecosystem. Currently, LIH operates the largest insurance distribution ecosystem in Romania, through the 24broker marketplace platform used by over 80 brokerage companies and through which policies worth almost one billion euros are traded. By integrating Pointer Systems’ offering into the 24broker marketplace, these services can reach over 11,000 insurance agents who have access to an exponentially multiplied market. Acquiring a partner with access to multiple distribution channels, such as LIH, will impact the growth of our new teammate, Pointer Systems,” says Cătălin Chiș, CEO LIFE IS HARD SA.

Pointer Systems offers packages with a complex configuration and combines several services to ensure rapid response in case of an unexpected event. In Western Europe, the penetration of these services is remarkably high: in the Netherlands, 40% of drivers have a roadside assistance subscription and in the UK over 4 million households have some form of home assistance subscription.

“Pointer Systems has demonstrated the stability of its business model, reaching a turnover of around €1 million in 2023 with solid profitability. We wanted to develop a global company dedicated to Emergency Assistance Services, with diversified components tailored to each area, whether we are talking about Roadside Assistance or Technical Assistance aimed at the domestic area. We looked for the best solution to grow at an accelerated pace and the LIFE IS HARD ecosystem was the right choice; we will have both an investment partner and access to an ecosystem that can scale the distribution of our services,” says Tudor Ion, founder, and CEO of Pointer Systems.