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Online insurer enters Slovak market

THE POOL of insurance companies offering third party liability car insurance is about to grow. In late October insurance company Genertel, part of the Generali group, will enter the Slovak market. Genertel will be the only insurer selling its products via direct channels, specifically the internet and a call centre, the SITA newswire reported in September.

THE POOL of insurance companies offering third party liability car insurance is about to grow. In late October insurance company Genertel, part of the Generali group, will enter the Slovak market. Genertel will be the only insurer selling its products via direct channels, specifically the internet and a call centre, the SITA newswire reported in September.

Car liability insurance will only be the initial stage and Genertel plans to add gradually to its portfolio of other non-life insurance products, for instance with accident and travel insurance.

The ambition of the new market player is to address what it calls modern clients.

“The car liability insurance market shows potential among the group of clients open to new technologies, who do not need personal contact when selecting the most advantageous products,” said Miroslav Chovan, the director of the Slovak arm of Genertel Insurance Ltd.

Genertel will be the first exclusively online-focused insurer on the Slovak market. It is a subsidiary of the Hungarian company Genertel Biztosító, which is a member of the Generali group that also controls the insurer Generali Slovensko through Generali PPF Holding. However, Genertel is developing its activities in Slovakia independently of Generali Slovensko.


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