Interamerican and Universal Life raise the bar for digital insurance

Interamerican and Universal Life have announced their cooperation in the insurance market.

The two organisations will offer an innovative insurance experience, making use of digital technology as their “driving force” and Universal Life’s experience and expertise of the insurance network. Their collaboration is expected to provide new expansion potential in the local insurance market, general insurance sectors (through Interamerican’s presence in Cyprus) and Universal Life’s subsidiary insurance agency, the Universal Insurance Agency (UIA).

At the centre of the Interamerican-UIA cooperation is the digitisation of the communication platform between the insurance intermediary and the client for car and home insurance programmes. This will be done with the help of modern technological tools. These tools provide the possibility of the immediate issuing of contracts and a fully automated method. Alongside this, it will offer a series of procedures that are carried out electronically to facilitate both the insurance intermediary and the client.

“The partnership with the leading insurance company Interamerican is part of our company’s broader path towards digital transformation and automation. In this context, this new partnership is fully in line with UIA’s goal of evolving and responding to new market trends by offering digitised solutions,” executive director of Universal Life Evan Gavas said.

“Our successful presence in Cyprus since 2017 with the Anytime brand pushed us to take another step towards the local market. This time putting our expertise into use together with the time-dynamic path of Universal Life. This cooperative move is not coincidental because we discovered that we share the same vision with our partners for a very promising, digital insurance future,” stressed CEO of Interamerican Giannis Kantoros.

Car and home insurance products are available and those interested can contact their insurance consultants for more information.

Who are the collaborating organisations?

Interamerican possesses 52 years of leadership and creative presence in the Greek insurance market. Today it leads developments in the Greek insurance market with a modern business model. Its mission is “to help people live safer, longer and better”. In Greece it operates in all areas of insurance, while in digital distribution it is a leader in direct insurance with Anytime. It has been active in Cyprus for the past four years in the field of direct insurance through Anytime. Interamerican presented pre-tax profits of €28 million in 2020 and currently has over one million customers. It is a member of Achmea, a cooperative Dutch group of companies with 210 years of experience. Interamerican holds the top position in the provision of health insurance services in Europe.

Universal Life was founded in 1970 and was the first insurance company in Cyprus aiming to develop and advance the local insurance sector. Since then, it has been leading the way by introducing new institutions and modern insurance programmes, associating its name with life and health insurance in Cyprus. The Universal Insurance Agency (UIA) is a subsidiary of Universal Life. It was established in 1998 to provide general insurance solutions to customers, either directly or through its insurance network. UIA has extensive knowledge in general insurance and a wide range of local and international partnerships with general insurance companies. With the support and guidance of its experienced staff, UIA provides clients with comprehensive personal and business insurance solutions, with multiple coverage options and costs at very competitive rates.