AS LHV: LHV Kindlustus and Modera bring to market a new insurance sales platform


23.11.2021

Estonian car sales software company Modera and LHV Kindlustus bring to the market the first insurance sales platform that allows the customer to receive a common offer of car sales and insurance.

In addition to the offer of car sales, customers can also receive an offer for compulsory motor liability insurance, auto damage insurance and warranty insurance.

“The cooperation of LHV and Modera is of utmost importance in the Estonian market as there has never been a standard that would simply and comfortably allow all car related insurances to be offered to the customer at the same time and very quickly. . LHV contributes innovative solutions that improve current processes and thereby make life easier for customers and car dealers, ”said Jaanus Seppa, Chairman of the Board of Directors of LHV Kindlustus.

“In addition to customer convenience and better clarity regarding other expenses that accompany the purchase of a car, it is important that car dealerships spend less resources, which in turn increases the revenue base and to consider additional business opportunities “, said Raido Toonekurg, Member of the Management Board of Modera.

LHV Kindlustus insurance products are specially designed for Estonians taking their needs into account and offer a fairly wide range of insurance coverages. In addition to compulsory motor liability insurance and auto damage insurance, LHV also offers innovative vehicle warranty insurance which protects in the event of an unexpected vehicle breakdown caused by a manufacturing defect.

LHV Group is the largest national financial group and capital provider in Estonia. The main subsidiaries of the LHV group are LHV Pank, LHV Varahaldus and LHV Kindlustus. LHV employs more than 630 people. At the end of October, LHV banking services were used by 310,000 clients, the pension funds managed by LHV had 139,000 active clients and LHV Kindlustus protected 140,000 clients in total. LHV’s UK branch provides banking infrastructure to 180 international financial services companies, through which LHV’s payment services reach customers around the world.

Around 25,000 vehicles were sold in different countries through the Modera system, with the transaction value of these reaching more than 600 million euros in total. In Estonia, the company achieved a market share of 60%. Modera products are used by importers and dealers of Toyota, Volkswagen, Renault, BMW, Kia, Hyundai, Volvo and Mercedes-Benz. As of October of this year, Modera’s shares have been trading on the Nasdaq alternative market, First North.

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