DGAP-News HYPOPORT SE: Bancassurance: Europace credit platform and SMART INSUR insurance platform seamlessly integrated with each other for the first time
DGAP-News: HYPOPORT SE / Key word(s): Market launch
Thanks to Europace and Smart InsurTech, Sparda BW enables payment protection insurance linked to mortgage finance to be taken out digitally
Bancassurance: Europace credit platform and SMART INSUR insurance platform seamlessly integrated with each other for the first time
Berlin, 24 November 2020. For the first time, Europace - the largest German transaction platform for mortgage finance, building finance products, and personal loans - and the web-based SMART
INSUR insurance platform can communicate with each other directly. In cooperation with Sparda-Bank Baden-Württemberg eG (Sparda BW), a standard connection was developed that enables payment
protection insurance to be taken out digitally in conjunction with a mortgage finance application.
"We want to digitalise our processes and reduce manual tasks that take up a lot of time so that our advisors can focus more on looking after clients while administrative staff can concentrate on value-adding tasks," says Michael Lichtner, Back Office Head of Department at Sparda BW, explaining the reasons for the joint project. "This not only improves our efficiency but also enables us to avoid errors that might potentially occur in manual processes."
Thanks to the cooperation between Smart InsurTech AG and Europace AG, both of which are wholly owned subsidiaries of Hypoport SE, an advisor who applies for mortgage finance for their client using Europace's Baufi Smart frontend receives an offer for payment protection insurance and thus benefits from the Smart Compare comparison tool. Smart Compare connects the mortgage finance advisors to the product supplier Credit Life, enabling a quote to be requested almost in real time.