againstConvinced that this modification will be the starting point for a new market, Toufik Guzem and Mikael Benhassan Assurly created Borrower Insurance at the forefront of technology! And with the Lemoine Act in effect from June 2022 that aims to further simplify access to borrower insurance, we can say they have a good nose.
Restoring the purchasing power of customers
Borrower insurance is an important part of the cost of bank loans, especially mortgages. The sector also generates annual revenues of €10 billion, 90% of which is owned by bank insurance companies. In this context, Assurly’s desire is to allow everyone to insure at fairer rates, while reducing the amount of premiums by 50%.
The stakes are high: Today, Assurly allows its clients to benefit from more effective coverage than traditional contracts, while making significant savings. Assurly’s latest record: a customer saves 48,000 euros by changing the borrower’s insurance! What really takes back control of their purchasing power.
Signing up is as simple as possible
At Assurly, you don’t have to worry about paperwork. The team of this startup has developed a seamless experience, allowing for a maximum of online actions while maintaining contact with a dedicated advisor if needed.
It is therefore possible to sign up in 3 minutes thanks to the mobile application developed entirely in-house or on the Assurly website. The concept of a “full sofa” is simple and practical, which undoubtedly contributes to dusting off the sector’s uses. The administrative procedures have also been simplified, since it is sure to run everything directly with the lending institution, thus removing one burden from the client’s burden.
Above all, as the sole interlocutor, Assurly ensures an ongoing, high-quality client relationship. Customer service is present throughout the process to support the borrower, from the sign-up stage to claims management.
Wanting to always be on the cutting edge of technology, Assurly relies on artificial intelligence to develop tailored contracts. The company specifically relies on a predictive claims engine, to collect information on policyholders in a completely anonymous manner. This allows him to develop a model of the various features, thus avoiding the unpleasant passage through the health questionnaire for most people. It is an even more important technique since the adoption of the Lemoine Law, the latter of which provides for the cancellation of the survey for borrowers whose total loans are less than €200,000 and who will be repaid before the insured’s 60th birthday.
Fully customer-oriented, Assurly also develops tools for its “Research and Development” department based on user behavior data to encourage them to take care of their health. A project in Assurly Pipes currently is to offer cashback to customers who take a certain number of steps per day. Taking care of yourself pays off in every sense of the word!
Great development prospects
Assurly has already convinced thousands of policyholders, ambassadors and shareholders, some wanting to regain their purchasing power and others wanting to take part in the borrower market revolution. Starting with the former senator behind the aforementioned amendment, Martial Bourquin, who has supported the project from the start and is also chair of the ethics committee at Assurly.
The company, which supports businesses and individuals alike, has multiple goals for the coming months. In particular, it should soon cross the French border and intend to spread throughout Europe within 5 years.
Additionally, its ambition is to apply for approval with ACPR, to become an insurance company and thus extend technology penetration to the entire value chain.
In his field of vision, Assurly also displays the desire to cover all types of credit. Even if mortgage credit is the most important and most economically impactful, Assurly intends to tackle consumer credit and even student credit. Its goal: to make a difference in this sector also by allowing students to secure their loans for €2 per month (the average market amount is €40).
In less than 3 years, Assurly has embarked on a crazy adventure of saving money for its clients, while offering guarantees similar or even higher than those offered by bank insurers. The company is constantly innovating to provide more services to its policy holders and to bring about a change in codes. Enough to lure millions of borrowers located in France and soon abroad.