Subsidiary of Coop Pank actively enters the insurance brokerage market
27.02.2020
Coop Kindlustusmaakler AS, the youngest subsidiary of Coop Pank established last fall that so far have acted as an intermediary in insurance matters only for current bank customers now offers insurance solutions to the general public.
The head of Coop Kindlustusmaakler is Raivo Piibor says that the bank’s subsidiary offers in the brokerage environment on Coop Pank’s website the most common property insurance products, such as road insurance, comprehensive insurance (casco), home and travel insurance, property insurance for small and medium businesses, as well as insurance for construction equipment and other devices.
Coop Kindlustusmaakler AS cooperates with most local and international insurance companies operating in Estonia: for instance, with Salva, Seesam, BTA, PZU, Ergo, If Kindlustus, Compensa and Gjensidige.
“Until now we have focused mainly on Coop Pank clients who can quickly and conveniently compare offers of different insurance companies, find the most suitable one and immediately submit an application. Since the system is working smoothly, we opened it to everyone else who wants to receive offers from Coop Kindlustusmaakler,” noted Piibor.
Coop Pank has no plans to independently enter the market of life and property insurance. The establishment of an insurance broker is a part of the strategy to offer Coop Pank customers banking-related services on the platforms of its various partners.