Companjon, a leading B2B2C insurtech start-up specializing in fully digital, AI-driven embedded insurance, has finalized an agreement to offer its innovative lifestyle solutions to customers of Erste Bank Hungary starting in early 2024. Erste Bank Hungary is a part of the Erste Group, one of the largest financial services providers in Central and Eastern Europe, serving 16 million customers across seven countries.
The collaboration between Companjon and Erste Bank Hungary commenced earlier this year when the start-up participated in the bank’s fintech scouting program, Bankspiration. This program aims to identify possibilities that support Erste’s new digital solutions.
This newly established partnership will empower Companjon to integrate its end-to-end insurtech into Erste’s George app, providing account holders with opportunities to protect themselves against contemporary challenges and unforeseen events. Beyond offering traditional financial security, these solutions will enhance flexibility and convenience for Erste customers.
László Bek-Balla, Head of Digital and Contact Center at Erste Bank Hungary, expressed optimism about the collaboration, stating, “We are incredibly optimistic about our collaboration with Companjon, which enables us to delight our customers in a new way that fits and protects their modern lifestyles. Companjon’s digital strategy is well-aligned with our vision of ensuring our customers ‘stay ahead,’ and their consideration of our unique customer needs in the design of these insurance solutions is exemplary. We look forward to launching them in the George app next year.”
Matthias Naumann, CEO of Companjon, shared his excitement, stating, “We are very excited to team up with an iconic, well-established brand like Erste Bank Hungary, helping them stand out in the fintech sector by providing innovative end-to-end embedded insurance solutions that enhance their customers’ purchases and fuel Erste’s digital ecosystem. Our AI-driven solutions will offer Erste customers frictionless insurance experiences that help turn negative experiences into positive ones in real-time.”
Companjon’s modern insurance solutions are characterized by their intelligence and seamlessness, featuring automatic claims processing and instant payouts directly to Erste Bank Hungary customer accounts. The process involves no human intervention for claims approval, and Erste customers have unlimited flexibility in how they utilize the payout.
Established in 2020, Companjon has experienced rapid growth, launching a variety of modern and traditional insurance solutions with globally recognized brands in the events and entertainment, mobility, and fintech sectors. The company has facilitated over 30 million transactions year-to-date through its solution design, leveraging cutting-edge technology such as AI, to enhance the customer experience for business partners across 31 countries in Europe and beyond.