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  • Offer personal insurance through partners

The one thing I’m missing from bunq that’s avoiding me to ditch my ING are the insurances.

3rd party liability, travel insurance and house insurance are the three things that I would assume are the three most common types of insurance offered, which coincidentally are also the ones I have with ING.

ING achieves this with a partnership with Nationale Nederlanded, and well if another big legacy bank can do it, why should bunq not be able to do it better? :p

    @JonasV#78161 I think insurance doesn't have much to do with banking. There are a lot of other companies that offer the same insurances, usually cheaper. Why does a bank have to offer this service?

      Agree and most of the insurance packages currently offered by Fintech banks such as Revolut poor value and not worth the paper they are written on. Best to go direct to insurance company if you require such services rather than via bank.

        @pbruins84#78180 Pretty much every bank offers Bancassurance. It’s a very widespread thing https://en.m.wikipedia.org/wiki/Bancassurance
        I would assume Bunq would want to offer the best experience to its users and also possibly diversify its income. If a non-premium user could get these insurances I’m sure bunq would be in a unique position.
        Bunq’s idea is to keep paying users long term and make them switch to their platform entirely, this would be the next step in assuring that.
        Regardless, bancassurnace is something legacy banks have been offering for too long and I’m sure Bunq can do this better.
        It may be cheaper by going to the companies directly but if I’m a premium user already, I’m not here for the cheapest service (remember, it’s 8€/mo, as far as I know that’s the most expensive bank membership around). Instead, I’m here for the most comfortable experience and I’m not exactly picky about the price.

          @JonasV#78161 I get the idea of getting all the insurances from one provider like your bank. But what people often overlook is that then your bank account and your insurances are tied together.
          What happens when you close your bank account and move somewhere else? Chances are you won't be able to also take your insurances with you because they are tied to special contracts between your bank and the insurance company.
          It's also possible that you can't close your bank account when an insurance is active and they tend to have some pretty long contract terms.

          Also you are not that flexible in switching your insurance to a probably cheaper contract or even a different insurance company.

          Plus, I have to agree with Peter and I also don't think banks should sell you any insurance at all.

            I’d personally prefer an investment or trading platform offering similar to what Revolut are planning rather than an insurance package. Spending and budget analytics would also be a welcome addition.

              Yeah it‘s nice to have things separated. Even if just through partners, companies should focus on what they do best. Or you end up with big conglomerates that can‘t adopt to anything new.

                Vrijwel geen enkele bank bied verzekeringen aan. Wel heeft de moedermaatschappij vaak een verzekeringstak, echter deze onderdelen zijn strikt gescheiden. Om dezelfde reden zijn ook beleggings, pensioen en krediet onderdelen gescheiden.

                Daarom bied Rabobank verzekeringen aan onder de naam Interpolis. ING gebruikt Nationale Nederlanden..
                De bank treed alleen op als bemiddelaar en dan vaak in een 'execution only' gedaante. ING geeft jouw geen advies welke verzekering voor jouw het beste zou zijn. De meeste bank medewerkers hebben hiervoor niet de vereiste certificeringen en mogen dus niet adviseren. Echter als jij naar hun toekomt met een ingevulde aanvraag, zetten ze deze een-op-een door naar de verzekeringstak..

                Bunq is momenteel nog steeds bezig met het opzetten van de bank zelf. Het is daarom niet verstandig dat zij nu hun aandacht geen fragmenteren naar andere financiele producten. Ben je op zoek naar een goedkope verzekering, check dan een aantal verzekering vergelijkers..

                  10 months later

                  Hi bunqers,

                  We recently added a purchase protection and extended warranty to our Green Card. This means that, in case something mistakenly happens with your Green Card payment, you’re covered! For a full list of situations you’re insured for.

                  You can find more information about it on this together topic 🌈

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