tbi bank partners with Otto Broker to assist Romanians in purchasing their insurance, including RCA, in interest-free installments

Over the past year the insurance industry has seen an increasing need among customers, particularly those buying the mandatory liability insurance RCA, for installments solutions to facilitate access to these policies. In order to effectively meet this demand, tbi bank entered into a partnership with Otto Broker, through which customers may buy insurance via the Buy Now, Pay Later (BNPL) solution in 4 interest-free installments or 6-12 installments with interest.

The BNPL solution enables consumers to spread the total cost of any acquisition in installments, without any interest or fees, thus supporting financial and social inclusion. In this way, customers can make more purchases or buy more valuable products, while merchants get access to a new tool to satisfy their customers’ needs.

“The new levels of insurance premiums in 2023, amid inflationary pressures, require new tools for consumers to maintain their financial protection while using their cars for their mobility needs. A partnership with a strong player like Otto Broker allows us to be closer to our customers and to help them have a more comfortable solution to pay their RCA”, said Gergana Staykova, Market Leader, tbi.

Otto Broker is one of the largest Romanian companies specializing in insurance brokerage activities, with a wide range of insurance products, offering specialized consulting and financial solutions tailored to customer’s needs. The company has over 130,000 customers, a sales network of more than 30 units nationwide, and an experience of more than 22 years in the local market.

”We always look for new solutions for customers’ needs and access to installments for RCA has been an important topic last year. Through this agreement with tbi, we can provide individual customers with an effective solution for buying a RCA insurance policy. During the pilot project we have already seen an increased interest among clients for this payment option, which is available both in our physical offices and also on our website”, said Victor Sraer, Managing Partner, Otto Broker.