Sber now offering subscription-based insurance for apartments and country houses
Clients can now subscribe to Sberbank insurance’s Home Protection program on the SberBank Online mobile app. All Sberbank insurance’s mass segment risk insurance products are now available as subscriptions: Protect Your Finances, Injury Protection, and Home Protection.
The subscription model enables clients to select their own insurance period and method of payment. They can take out a policy for the specific period during which they will need insurance – a month, a quarter, or a year. An insurance subscription divides the program cost into regular payments that are more convenient for a client’s budget. Coverage is provided for the entire period during which the client makes contributions.
The ability to pay for services for the precise period during which a person uses them is an increasingly important factor for clients when choosing a product. That is why you can now sign up for a subscription to almost any goods and services. This year we moved our most popular insurance products to a subscription-based model. This model is very popular: approximately 40% of clients taking out Injury Protection and Protect Your Finances policies on SberBank Online select a subscription with monthly instalments. We will continue to develop this model and plan to make subscription management more flexible and integrate insurance products into the SberPrime subscription.
Senior Vice President, Head of Wealth Management, Sberbank
Clients can sign up for Home Protection, Injury Protection, and Protect Your Finances program subscriptions on SberBank Online for various durations: a month, a quarter, or a year for the first two programs and a month or a year for the third. Insurance claims for all three programs can be submitted on SberBank Online.
Home Protection is an online constructor that clients can use to take out an insurance policy that fits their needs, selecting the relevant risks and insurance amounts. Apartments, houses, or country houses can be insured under the program. A monthly subscription starts at RUB 272.
Injury Protection helps clients protect themselves against injuries and temporary disability as a result of an accident. Up to six people can be insured under one contract, including people who are not related.Protect Your Finances helps clients insure the money on all their accounts with Sber, including savings accounts, deposits, credit cards, and any additional cards. The program entails protection from unauthorized money withdrawal, theft of cash, and compensation in case a loan has been taken out under the client’s name without their knowledge.