ATHENS, Greece, May 2, 2018 /PRNewswire/ --
Hellas Direct, a next-generation
insurance company, has teamed up with Revolut, the smart phone app
that has disrupted banking, to shake up the laggard insurance
industry in Greece and
Cyprus. The partnership aims to
improve customer experience and to drive further transparency and
fairness in a historically opaque industry plagued with commissions
and hidden fees.
(Logo:
https://mma.prnewswire.com/media/630499/Hellas_Direct_Logo.jpg
)
(Logo:
https://mma.prnewswire.com/media/685721/Revolut.jpg )
Hellas Direct is a digital-first,
full-stack insurance company, empowered by cutting-edge technology
and artificial intelligence. The company is backed by a roster of
all-star investors, which include IFC, Third Point LLC, Portag3
Ventures, Endeavor Catalyst, former Goldman Sachs economist Lord
O'Neill and private equity veteran Jon
Moulton. Modelling itself after Amazon, Hellas Direct aims
to disrupt the insurance value chain by adopting an extreme focus
on operational excellence.
London-based Revolut is a
digital banking alternative that aims to turn the financial banking
sector on its head. To date, Revolut has signed up over 2,000,000
customers across Europe and
processed 70 million transactions with a total volume transaction
of $12B. Revolut has raised a total
of $340m from some of the most
notable investors including Index Ventures and Ribbit Capital and
is valued at more than $1.7Β!
Greece is among the top 5 biggest
retail markets for Revolut, which has recently opened offices in
Athens.
"With its market leading technology, Hellas Direct is uniquely
placed to bring new life to an outdated insurance sector. We look
forward to working with the team and to developing new
micro-insurance, by-the-day products together", added Dimitris
Litsikakis, Revolut's country manager in Greece.
"We are thrilled to partner with one of the leading companies in
the global fintech scene. With Revolut, we share the same
philosophy of transparency and we have a common approach to
innovation" said Alexis Pantazis,
Executive Director of Hellas Direct.
"The cooperation with Revolut provides us with a unique
opportunity to strengthen our position in the Greek market and to
accelerate our growth both in Cyprus and in the wider region, "added
Emilios Markos, Co-Founder and
Executive Director of Hellas Direct
This is one of the first strategic partnerships between
disruptive companies in the broader fintech space. The two
companies plan joint R&D efforts to further challenge
traditional operational models in the broader region. The
partnership will allow Revolut and Hellas Direct to push their
offering into new markets and enable them to leapfrog some of the
traditional barriers of growth and expansion by using the core
competencies of each partner.
