Candidate for CCIFS Grand Prix 2023 ''Innovation'': Generali Osiguranje Srbija
During this year's Green Gala evening, which will take place on April 27th, we will organize the traditional Grand Prix CCIFS awards ceremony
Dynamic Life is an endowment insurance policy with variable premium. With Dynamic Life, the Insureds can make savings by buying products and services: with each purchase, the retailer or manufacturer of the purchased products pays a portion of the amount towards their Dynamic Life policy, as the insurance premium. This way, all the persons aged 18-55 can have life insurance, without having to pay additionally for the premium. All they need to do is to take out a Dynamic Life insurance policy, install the DynamicLife mobile app and show the barcode to the salesperson when making a purchase, or scan the QR code from the fiscal receipt after buying products from our partners and the insurance premium will be credited to their Dynamic Life policy.
In collaboration with Dynamic Life start-up, Generali Osiguranje Srbija developed Dynamic Life endowment insurance policy with a variable premium. The Policyholder and the Insured (the person whose life is covered under the insurance contract) are always the same person, who cannot be younger than 18 or older than 55.
The insurance contract term is 15 years. The insurance premium is a monthly amount and can vary over the course of the policy term. The premium can be paid:
- through benefits provided by the Partners (companies on the territory of the Republic of Serbia in the goods and services industry), based on the loyalty program contract signed with the Insurer. The Partners give a part of the amount charged for the goods sold/service provided to the customer as a gift by making a payment towards their life insurance policy. Our Partners operate in a variety of businesses: the FTMC industry, medical services, pharmaceuticals, sports equipment, apparel, gas stations, labs, footwear, bakery industry, etc.
- by making payments to the Insurer's account.
In the case of pure endowment (survival), the sum assured depends on the amount of monthly premium paid during the entire period of insurance – it is variable, while the sum payable at death is always the same.
The DynamicLife mobile app is a tool for using the Dynamic Life policy. The app generates a barcode which the Insured shows when purchasing at a store, through the mobile app.
The customer scans the QR code on the fiscal receipts after making a purchase. When the barcode or the QR code is scanned, the Insured receives a notification about the benefit-premium transferred by the Partner via the mobile app. Through the mobile app, the Insured also gets real-time information about the amount of insurance premium collected/paid, as well as information about the partners and the benefits they offer.
This product enables selling life insurance policies on a larger scale since the premium payment will not be an additional financial burden for the customers.
The customers will generate the premium with their daily shopping, through the benefits provided by our project partners. This way, we make insurance more accessible to the customers, provide them with security and savings as benefits, and maintain a long-term partnership with them. The product is designed to be simple to acquire, easy to understand, and long-term sustainable.
The product is innovative: we use technologies that enable a simple, clear, fast user experience while automating processes for the purpose of enhancing business efficiency.
