Insurance premiums, especially RCA, have significantly increased in Romania in the last year, in some cases by over 50%, according to market data, and the trend is likely to continue in 2023. In this context, tbi bank has partnered with Destine Broker Insurance - Reinsurance to help customers buy insurances through the Buy Now, Pay Later (BNPL) solution in 4 interest-free installments or in 6-12 installments with interest.
BNPL allows consumers to split the total cost of any purchase into installments with no interest or fees and is a great instrument which supports financial and social inclusion. This way, customers can afford more frequent or higher value purchases, while retailers boost their sales.
”The increase in car insurance premiums over the last year, amid accelerating inflation, is becoming a challenge for more and more Romanian car owners. RCA insurance is mandatory; therefore, it is an expense that cannot be avoided if you own a car. The partnership with Destine Broker allows us to be there for Romanians who want a better and more efficient alternative to paying for their RCA without effort”, said Gergana Staykova, Market Leader, tbi.
Destine Broker is one of the best 3 Romanian companies specialized in insurance brokerage activities, offering a wide range of insurance products, technical expertise, specialized consulting, innovative products, and financial solutions tailored to customer’s needs.
”Price increases over the past year are significant and buyers are feeling a greater pressure. By reaching an agreement with tbi, we can give people the opportunity to free themselves from this pressure. In this way, for us as a business, we can expect an expansion of our customer base and an increase in sales, which would support our growth in these difficult times”, Daniela Ichim, Head of Loans Department, Destine Broker.
About tbi bank
tbi bank is a Southeast Europe Challenger Bank and alternative payments solutions leader in the region focusing on consumers and merchants by providing financing and additional embedded services through a wide network of phygital channels and platforms. Currently the Bank operates in Bulgaria, Romania, Greece, Germany, and Lithuania. Through various digital channels, an own network of 300 physical locations and trusted partnerships with almost 20.000 small and large merchants and retailers, tbi has served almost 2 million clients by September 2022. Its successful business model and customer-focused approach resulted in becoming one of Southeast Europe’s most profitable and efficient banks.