Wirecard Central Eastern Europe (CEE), a subsidiary of German payments firm Wirecard, is offering credit card acceptance for short-term insurance cover from the ERGO Insurance in Austria.
Apart from offering credit card acceptance, Wirecard CEE currently manages payment processing through MasterCard, Visa, PayPal and SOFORT as an acquirer.
Combination of financial and insurance technologies have paved the ways for the current collaboration between the two companies, which aim to offer an innovative and uncomplicated insurance solution to customers.
Among other things, special rescue cost insurance has been incorporated in the new short-term insurance solution provided by ERGO.
For all last-minute decision makers, the benefit is that the insurance is very flexible for them. After purchasing, the insurance becomes active just in an hour. The insured can select the duration of the cover, and it will end automatically without the need of sending any notice after the maximum validity of 14 days.
ERGO Insurance board member Christoph Thiel said: “Mobility and flexibility define our customers’ behaviour.
“With Wirecard on our side, we can meet their needs and can offer insurance cover within a very short period of time. What’s more, this can be done using any device with secure payments, whether it is skiing, walking or wind surfing that takes your fancy.”
Wirecard CEE managing director Roland Toch said: “Together with ERGO Versicherung in Austria we have been able to overcome the challenge presented by the growing trend for InsurTech, which combines insurance services with new technologies. This mobile-based, innovative insurance form offers customers maximum flexibility."