Net Insurance has become the partner of Nexi’s open banking project. It is an ecosystem for open banking that involves as partners the most innovative companies in the technology and fintech sector, accelerators, startup incubators, consulting companies, and research centers. The project was launched by Nexi, the PayTech listed on Piazza Affari and controlled by Advent International, Bain Capital, and Hourglass funds.
Find out more information about the newly launched open banking project by Nexi in Italy, and read the most important business news with our companion app, Born2Invest.
Yolo – the first insurance broker in Italy is part of the agreement
The technological enabler of the Net Insurance offer will be Yolo Group, an insurtech startup in which Net Insurance has invested, participating in a financing round in early 2019.
Yolo (an acronym for You Only Live Once), was the first insurance broker in Italy to sell insurance products on demand and pay per use on a daily or monthly basis, which can be subscribed via app or with a click: from travel coverage, to flight and smartphone protection and coverage for sports activities.
The startup was founded in 2017 by Simone Ranucci Brandimarte, founder of Buongiorno e Glamoo (a pioneer company in mobile commerce, later sold to Seat Pagine Gialle) and president of Digitouch (one of the leading Italian companies in digital marketing applied to mobile, a company listed on Aim), together with CEO Gianluca de Cobelli (former manager in CartaSì, Amex, EY and Reply) and Mansutti spa, a historic Italian insurance brokerage company.
The innovative services of Net Insurance
Thanks to the agreement, Nexi will make Net Insurance’s innovative services available to its partner banks, which will be able to offer its customers targeted insurance coverage, activated in real time and in a completely digital way. Customers of banks that join Nexi Open, when making a purchase with digital payment instruments, can now instantly activate a temporary insurance coverage, tailored to their needs and related to the product or service purchased: sports activities, travel, mobility, luggage and much more. Net Insurance also provides individual policies for customers operating in commerce, services, tourism.
“Nexi Open is our open banking platform created to bring to banks useful solutions to improve customer satisfaction and to develop new sources of profitability. The agreement with Net Insurance is a key element in the project to build an ecosystem of partnerships that we make available to banks, thus confirming our role as PayTech’s ally,” explained Daniele Gabbai, Head of Strategic Partnerships & Alliances at Nexi.
Andrea Battista, CEO of Net Insurance, commented: “The agreement with Nexi is a fundamental step for the digital positioning of the company. The agreement marks Net Insurance’s official entry into the open banking ecosystem, one of the strategic drivers of innovative processes in the banking, financial, and insurance sectors. On the one hand, it is a way to expand the cooperation with our partners, on the other hand, the concrete opportunity to extend our range of action.”
Net Insurance is an insurance company listed on Aim Italia that at the end of 2018 led the business combination with Spac Archimede. Last April, Net Insurance participated in the $1.19 million (€1.1 million) round of the insurtech startup Neosurance, also underwritten by Luiss Alumni 4 Growth and a group of investors led by Mezzetti Advisory Group.
As for Nexi, this is the second important partnership signed in a few days. Recently, the company has also entered into a strategic agreement with Microsoft, which in turn has joined Nexi Open.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Current Woes in Bonds Promise Future Grief for Stocks: Focus on Dow Jones
If you’re bullish, maybe you should lower your expectations of what the stock market can do for you in the...
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [uMobix Affiliate Program Review]
This week, we're covering everything from hustle culture to spying on kids, making this affiliate digest look like it has...
Stanford University Returns Millions from FTX
Between November 2021 and May 2022, Bankman directed donations of more than €5.5 million from FTX Group to Stanford University....
Biova Project Launched an Equity Crowdfunding Campaign on Mamacrowd
Biova Project makes deals with players in large-scale distribution and production to recover, store, and transform unsold food, or food...
Novo Nordisk Plans to Open a Tech Headquarters in Spain
Novo Nordisk increased its profit by 42.5% in the first half of 2023, reaching 39,242 million Danish crowns (€5.26 million)....
Markets6 days ago
Rice Closed Higher Last Week in Response to a Week of Solid Export Sales
Crowdfunding2 weeks ago
Financial Boutique Aestas Raises 1 Million on CrowdFundMe
Cannabis4 days ago
The Netherlands to Launch Cannabis Legalization Pilot Program in December 2023
Biotech1 week ago
This Is the World’s Oldest Life Hack — Scientists Say It Actually Works