iptiQ and WiZink 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.
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.”
Miguel Ángel Rodríguez, CEO of WiZink Bank, said: “We are delighted to have a long-term partner like iptiQ to launch our own insurance brand, with which we want to drive our strategic plan for diversification and growth. We share the same digital and innovation philosophy, and together we will take advantage of the digital insurance opportunities across the Iberian Peninsula.”
This bancassurance deal strengthens iptiQ’s presence in Spain, where it has been operating since 2018, and enables Swiss Re’s InsurTech to set foot into the Portuguese market. The ambition of iptiQ’s newest partner WiZink is for its insurance entity to become one of the leading digital insurance operators in Spain and Portugal.
Successful innovative bancassurance 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.
iptiQ’s latest bancassurance deal underlines the digital insurer’s innovativeness and speed to market. iptiQ is committed to digitalising and simplifying complex insurance processes and providing an excellent sales and customer experience.
