Improving Access to Insurance Products through Innovative Financing Solutions
In recent years, the economic and social context in Romania has increased the need for Romanians to have access to more efficient financing tools, including in the insurance sector, where the cost of insurance policies has been steadily rising. tbi bank, a challenger bank in Southeastern Europe that offers flexible payment solutions, has partnered with a leading insurance broker in Romania, Pint.ro. This partnership allows customers to easily purchase insurance, including mandatory car insurance (RCA), through the Buy Now, Pay Later (BNPL) solution, in 4 interest-free installments or in 6-12 installments with interest, according to a press release.
BNPL financing solutions are easier to access and allow for a quick installment of the total cost of any purchase in equal installments. This way, customers can make multiple purchases or buy higher value products, while merchants can better meet the needs of consumers.
Providing Easy Access to Insurance Policies
It is becoming increasingly complicated to navigate the world of insurance, with costs continuing to rise, especially when it comes to insurance premiums. Consumers are in need of efficient financing tools, which is why we are staying close to them through our partnership with Pint.ro Insurance Broker, a highly dynamic player in the brokerage market,” says Ionuț Sabadac, VP Merchant Solutions, tbi. “For us, it has always been a priority to provide our customers with easy access to mandatory car insurance policies, especially in this delicate economic and social context. We have entered into this agreement with a strong partner, the caliber of tbi bank, in order to help our customers purchase any type of insurance they need more easily,” said Alexandru Pintilie, Founder, Pint.ro Insurance Broker.
Insurance Market Growth
In 2023, insurance companies authorized and regulated by the Financial Supervisory Authority (ASF) underwrote gross premiums totaling approximately 18.2 billion lei, an increase of about 10%. This growth highlights the importance of having access to reliable insurance policies in an ever-changing and uncertain world.
Impact of Inflation on Investments
Inflation is a significant factor that can affect the value of investments over time. As prices rise, the purchasing power of money decreases, leading to a decrease in the real value of investments. This can have a negative impact on the returns earned from investments.
Investors need to consider the effects of inflation when making investment decisions. It is important to choose investment options that have the potential to outpace inflation and preserve the purchasing power of money. Some investment strategies that can help protect against the effects of inflation include investing in assets such as real estate, commodities, and stocks.
By taking inflation into account and making informed investment choices, investors can better navigate the challenges posed by rising prices and ensure that their investments continue to grow in value over time.
