Blending Banking with Insurance

PostFinance, one of the largest retail banks in Switzerland, has ventured into expanding their property and casualty (P&C) insurance-intermediation-service. The goal has been to introduce white-labeled insurance services, particularly focusing on the Swiss motor insurance market. This initiative aims to offer competitive insurance options through a digital-only approach.

Collaborative Effort

Since inception Toni Digital has joined  PostFinance in this venture. Together we have employed a white-label solution for various insurances initially starting with car insurance and gradually encompassing other areas like motorbike, travel, and legal insurance. The key has been to develop a fully digital platform blending insurance services in a user-friendly way.

Banking Meets Insurance

The integration of insurance intermediation into PostFinance’s banking model has been a unique endeavor. Our focus has been on ensuring a harmonious blend of these insurance services on the new platform. At Toni Digital, we continuously utilize our digital innovation skills to make this integration not only seamless but also beneficial for PostFinance’s customer experience. This integration has allowed PostFinance to leverage its existing strengths while exploring new market opportunities.

Transformative Outcome

PostFinance launched its online white-labeling car insurance service in 2019, which was well-received. The digital-centric strategy has been efficient, leading to competitive pricing and attractive offers, particularly benefiting older drivers and those with a clean driving record. This approach steers clear of the traditional bonus-malus system.