Partnership gives the startup from Zug access to 4.5 million potential new customers
The Zug-based startup kasko2go in collaboration with Canadian Fairfax Group's subsidiary Universalna now offers a unique product in a new marketZug, )
Universalna, which is owned by LLC FFH Ukraine Holdings (Fairfax, Canada, Toronto) has 70% and the European Bank for Reconstruction and Development (“EBRD”, the UK, London) has 30% of shares in the FFH Ukraine Holdings, is one of Ukraine's top non-life insurers.
The main objective of the new telematic-based car insurance (PAYD and PHYD) product is to increase safe drivers’ portfolio and promote street safety.
Genadi Man, CEO of kasko2go, is pleased about the upcoming cooperation: "The cooperation with Fairfax Group is a perfect opportunity to grow in an exciting market and to give car drivers access to a fair tariff structure. It makes me proud that we have been able to win such an important market player as the multi-billion holding Fairfax Group, which owns 25 insurance and reinsurance companies and groups worldwide, as a partner".
Kasko2go has developed a car insurance app, which assesses driving behaviour with the help of artificial intelligence and mobile telematics technology and thus calculates an individual insurance premium for each driver. The disruptive model rewards occasional drivers and safe drivers with attractive premiums. The app of kasko2go was awarded several times in 2019. More than 300 Swiss brokers have chosen kasko2go as the winner in the category "large companies" for particularly innovative digital solutions at the IGB2B awards ceremony. In addition, kasko2go received the Global Startup InsurTech Award Europe from the international organizer Digital Insurer LIVEFEST.
About Fairfax Group
Canadian multibillion holding Fairfax Financial Holdings Limited currently holds a double-digit percentage of the Ukrainian insurance market through its subsidiaries Universalna PrJSC, ARX, ARX Life and Colonnade Ukraine. The Group owns 25 insurance and reinsurance companies and groups worldwide.