Banca Popolare di Puglia e Basilicata and Net Insurance: distribution agreement for bancassurance P&C

• Privileged Partnership, fundamental element of the single business plans
• Distibution agreement for the insurance non-auto P&C

Altamura, february 28th 2019 – The distribution agreement between Banca Popolare di Puglia e Basilicata and Net Insurance which foresees a duration of 5 years and represents a privileged partnership, with long term orientation, was signed.

The partnership comprehends a dynamic catalogue of insurance products designed specifically for the bank channel in the protection sector, in particular for the P&C segment, not considering auto. Already in the next months, a multirisk retail offer, with modular complete products, will be available through the bank’s selling channel and in the second semester, further dedicated solutions for SMEs will developed.

The commercialization and development processes that will go side by side the creation of the new products, will be based on a strong technological base, which reflects also Net Insurance’s positioning, strictly correlated with the world of innovation.

For Banca Popolare di Puglia e Basilicata this agreement represents the solid will to enter a path of diversification and the perceived quality for the client services, reinforcing the counsel to families and enterprises in the protection segment.

For Net Insurance this is the second deal in the Bancassurance field in the two months since the fusion with Archimede which marked the beginning of the project, after the agreement - in December 2018 –  of the partnership with Cassa di Risparmio di Bolzano. The agreement is in line with the Business Plan of the Company and expects to develop four main pillars: Cessione del Quinto, bancassurance P&C and retail-broker P&C, all the Insurtech universe linked to the digital platforms.

Banca Popolare di Puglia e Basilicata’s Chairman, layer Leonardo Patroni Griffi, stated “the new partnership joins, with full coherence, the traced trailed of our 2017/2020 business plan, which moreover, has the intention to develop a strategical pillar focused on Insurtech as a business accelerator. For BPPB, the agreement with Net Insurance will allow the bank to be the protagonist at the center of the digital insurance ecosystem, enabling the integration with its new nature as Tech Company”.

“The partnership with Banca Popolare di Puglia e Basilicata is for Net Insurance the second pillar toward the creation of the bancassurance business in the protection sector” stated Andrea Battista, Chief Executive Officer of the Company. “A long-term relationship is finally complete with a broad range project, with an institution that is literally the protagonist of the present and of the evolution in the popular and southern bank scenario. Our expectations in the medium run for this deal are very important and we definitely have the ambitions to surpass them” concluded Battista.

Banca Popolare di Puglia e Basilicata, is a credit reality with a strong local presence mainly in Puglia and Basilicata. Since its foundation, in 1883 it established strong relationships with the community, aiming on the dialogue with the families, businesses and institutions. Always attentive toward the constant evolving economic scenario, it is a point of reference, in terms of support of the local economic growth, standing side by side the families and the businesses, persuing mutual principals inspired by quality and transparency, aiming to the creation of value for all its Stakeholders. To valorize the relation with the Clients it is investing on technological innovation operating in a multichannel concept to form bank services ever more accessible, in a simple matter, efficient and flexible, guaranteeing multiple points of virtual contact and a higher reachability of the goals.

Net Insurance is an insurance company whose aim is to offer protection plans dedicated to the individual Person, Family and small-medium enterprises. It’s history, financial stability, it’s agility and the offer of innovative products and approaches make Net Insurance unique in the Italian Insurance sector. A company in constant evolution with an eye toward the future.