tbi bank and DAW Management Broker join forces to offer Romanians the possibility of purchasing insurance with interest-free installment payments

tbi bank, one of the most prominent challenger banks in Southeast Europe, has partnered with one of Romania’s largest insurance brokers, DAW Management. As a result, Romanians can now more easily purchase insurance, including mandatory RCA policies, through the Buy Now, Pay Later (BNPL) solution, offering 4 interest-free installments or 6-12 installments with interest.

“Access to insurance has become increasingly difficult for Romanians over the past year and a half due to rising costs. This is why we have developed a strategy focused on extensive partnerships with Romania’s largest brokers, ensuring we stay connected to our clients’ needs. The collaboration with DAW Management, a major player in the brokerage market, allows us to more effectively achieve our goals and facilitate customer access to the insurance products they need,” says Ionuț Sabadac, VP Merchant Solutions, tbi.

According to 2023 data published by the Financial Supervisory Authority (ASF), DAW Management Broker ranks 5th among RCA insurance brokers, with a market share of 6.8 percent, and 7th for general insurance, with a market share of 4.5 percent. The company reported total revenues of nearly 67 million lei in 2023, with an average of 12 employees.

“We have always been committed to staying close to our customers, offering them high-quality services, especially in a complex economic and social context. The partnership with a strong player like tbi bank allows us to get even closer to our clients and make it easier for them to quickly and conveniently purchase all insurance policies with manageable financial efforts,” says Marian Stan, Administrator, DAW Management Broker de Asigurare.

In 2023, insurance companies authorized and regulated by the Financial Supervisory Authority (ASF) underwrote gross premiums amounting to approximately 18.2 billion lei, a 10 percent increase compared to 2022, according to ASF data.