The Estonian car sales software company Modera and LHV Kindlustus are introducing the first insurance sales platform to the market that enables the client to receive a joint car sale and insurance offer.
Together with the car sale offer, clients are able to also receive an offer for the mandatory motor third party liability insurance, motor own damage insurance, as well as warranty insurance.
‘The cooperation of LHV and Modera is of landmark importance on the Estonian market since there has never been a standard that would simply and comfortably allow to offer all car-related insurances to the client at the same time and very quickly. LHV is contributing to innovative solutions that enable to improve the current processes and make the lives of both the clients and car dealers easier through this,’ said Jaanus Seppa, Chairman of the Management Board of LHV Kindlustus.
‘In addition to client convenience and better clarity regarding other expenses accompanying the purchase of a car, it is important that car dealers spend fewer resources, on account of which, it is possible to increase the revenue base and consider additional business opportunities,’ said Raido Toonekurg, Member of the Management Board of Modera.
The insurance products of LHV Kindlustus are made especially for Estonian people with their needs in mind and these offer a fairly wide range of insurance coverage. In addition to mandatory motor third party liability insurance and motor own damage insurance, LHV also offers the innovative vehicle warranty insurance which protects in the event of an unexpected failure of the vehicle caused by a manufacturing defect.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 630 people. As at the end of October, LHV’s banking services are used by 310,000 clients, the pension funds managed by LHV have 139,000 active clients, and LHV Kindlustus protects a total of 140,000 clients. LHV’s UK branch offers banking infrastructure to 180 international financial services companies, via which LHV’s payment services reach clients around the world.
Around 25,000 vehicles have been sold in different countries via the Modera system, with the transaction value of these reaching over EUR 600 million in total. In Estonia, the company has achieved a 60% market share. Modera’s products are used by importers and dealers of Toyota, Volkswagen, Renault, BMW, Kia, Hyundai, Volvo, and Mercedes-Benz. From the October of this year, Modera’s shares are traded on Nasdaq’s alternative market First North.All news