Sweden-based InsurTech Insurely is partnering with Avanza Bank to offer better pension products, a report by InsurTech Digital has revealed.
Founded in 2018, Insurely’s goal is to digitise insurance in Sweden through its API and easy-to-use solutions for open insurance. Its technology empowers clients to create effective services for switching insurance contracts, as well as enabling insurance in personal finance management apps. Insurers and financial players can access real-time data from as much as 95% of the Swedish insurance market, the company claims.
Avanza Bank is known for its digital solutions and customer-centric approach. The partnership with Insurely will allow Insurely to provide better pension insight to consumers by utilising open data, providing a clearer picture of both contributions and savings in a simple, fast, and easy-to-understand way.
As a result, Avanza Bank will be able to make it simpler for clients to take charge of their pension by leveraging insurance technology with the assistance of Insurely.
Insurely has also released a new product, Pension Manager. Martin Einemo, founder and CEO of Insurely, said: “We’re pleased to announce both a new partnership and a new product: our Pension Manager, which allows consumers to easily get an overview of the pension holdings, which is a pre-requisite of moving them.
“The product is built entirely on our open insurance platform and shows that insurance-related financial information has several use-cases for banks.”
Insurely raised €2.5m in February last year to support the expansion of its team in a round led by Swedish venture firm Luminar Ventures.
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