Romanians continue to be vulnerable to unforeseen events that can affect their way of living but show increasing interest in ensuring better protection against risks, although the cost of insurance has risen over the past year. In this context, tbi bank has partnered with Inter Broker de Asigurare to allow Romanians to buy insurance products of any kind through the Buy Now, Pay Later (BNPL) solution in 4 interest-free installments or longer periods with accessible interest rates. Moreover, even companies are now able to purchase RCA in installments.
Insurance of any type, including RCA, can be paid in 6 or 12 installments, regardless of the amount, the insurer chosen or the period. The policy is taken out online and can be downloaded within 15 minutes.
“In Romania there is a significant protection deficit, which means people are financially vulnerable when something happens affecting their car, home, health or life, but insurance can significantly reduce this deficit. Although Romania is still underinsured and the culture for protection is underdeveloped compared to other Central and Western European countries, trends show people are catching up as they become more and more aware of the need for protection. The partnership with Inter Broker aims to help Romanians ensure better protection and, especially in these challenging contexts, reduce financial burdens in case of unexpected situations”, said Ionut Sabadac, VP Merchant Solutions, tbi bank.
Inter Broker is one of the most important insurance brokers in Romania, with more than 10 million insurances issued, 1,4 million customers and almost 2000 insurance agents distributed nationwide. The company offers a very wide range of insurance, from RCA and Casco to home and health insurance.
“Romanians are more and more interested in buying insurance, whether it’s for cars, homes, or health. The market is maturing, and people are realizing that insurance is essential in a developed economy, where the risks of losing out are becoming too great to ignore. Combining our insurance expertise with tbi bank’s strong presence in the financial industry, we will be able to offer an excellent experience to our customers”, said Carmen Cotrau, Executive Manager, Inter Broker.
The protection gap for Romanians in the face of negative unwanted events stood in 2021 at 620 billion lei (€126 billion), up by 5.6% compared to 2020, shows an analysis carried out for National Association of Insurance and Reinsurance Companies in Romania (UNSAR) by a group of independent experts.