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16 Aug 2018 - 06:58 CET

Protect.me - NN Hungary’s innovative insurance

In July 2018, NN Hungary launched protect.me, an app-based group life and accident insurance that covers risks related to recreational activities. Customers activate the insurance package via the app only for as long as they need it (‘on-demand’), and pay only for the period of active cover (‘pay-as- you-go’), allowing customers to obtain insurance within a few minutes at a competitive price. NN Insurance pays the premium for new customers on their first use, up to a limit of HUF 500.

Two important objectives

Imre Sztanó, Chairman and CEO of NN Hungary: ‘With protect.me, we set ourselves two important objectives. We wanted to develop a digital insurance service that meets the requirements of the 21st century: with a quick, convenient and personalised solution for our customers. In addition, by supporting sports and an active lifestyle, and in line with NN’s mission, we want to promote healthy living and an improvement in the quality of life.’

While developing the product, NN Hungary surveyed internet users aged 18-59 in Hungary. The 2017 survey revealed that over half of respondents regularly engage in sports, often practicing two sports. Some 23% of the respondents opt for team sports, while extreme sports are prevalent among younger generations. The survey also revealed that almost six out of ten adults have had an accident while engaging in a recreational activity.

One out of two Hungarians see pay-as-you-go premium payment as an attractive proposition


A novel proposition

Imre Sztanó: ‘The protect.me life and accident insurance with its application-based platform is a novelty. It was developed by NN Hungary entirely on the basis of customer feedback. We engaged customers at every point, to provide them with the service that best fits their needs. During the pilot phase we offer cover to 1,000 people for close to 150 different activities. This includes running, hiking, swimming, driving and motorcycling, as well as water sports and ball games.’

The protect.me application is available in the App store and Google Play store. After downloading the app and registering, the user joins the group ‘life & accident insurance policy’ as an insured person. After giving their bank card details, users need only to select the sports or activity that they practice. In a few seconds the insurance cover will be active. Users can also schedule cover for when it is needed.