Insurance

The Allianz and BBVA bancassurance joint venture is now one of the largest home insurance companies in Spain, with more than one million insured households and €276 million in premiums for this range of insurance products.

Once the pertinent regulatory authorizations have been obtained, BBVA Allianz Seguros - Allianz and BBVA’s new bancassurance joint venture that was announced in April this year - will begin to operate in Spain. BBVA Seguros has contributed around 1.18 million insurance policies to the new company, representing approximately €300 million in premiums issued by the end of 2019. The new company combines BBVA’s distribution capacity in physical and digital channels with Allianz’s innovative knowledge to develop simple, digital non-life insurance.

Garanti BBVA’s 'Instant Insurance at the Branch’ campaign has been recognized with a Bronze Stevie award in the category of ‘Sales Enablement Solutions’. This accolade recognizes the bank’s efforts to develop car loan products and improve customer experience.

In early-February, BBVA USA introduced its new 5-year strategic plan, underscored by six pillars that are guiding the bank globally. 

Univfy®, an AI platform company whose mission is to improve fertility patients’ experience and access to in vitro fertilization (IVF), announced today a collaboration with BBVA USA, the U.S. subsidiary of global financial institution BBVA, to offer a finance program with rates starting at 0% APR (up to 18.99%).

Generali has just issued, together with BBVA and seven other banks, its first green bond amounting to 750 million euros. This is the first bond from a European insurance company and the largest to date. BBVA acted as deal manager and joint bookrunner.

Garanti Bank customers can now personalize their health insurance coverage on the Garanti Cep app. Customers can select the level of health coverage they prefer, adding or removing services as needed.

Unexpected life changes occur frequently, and with them come ripple effects that uncover even more twists and turns. The effects could be costly for your family – especially if you’re not around to help.

New companies are using in-car technologies to offer tailored insurance policies based on actual driver behavior. In addition, AI-enhanced automobiles enable new way to assess possible damages in the event of an accident, automating insurance claim processes.

Digital financial services are within everyone´s reach, but each generation has its own peculiarities when using them. Mobile banking apps have won over the centennials, while social networks influence Generation Y when it comes to changing banks, and Generation X confides in online banking. The baby boomers, meanwhile, prefer to take a stroll to the branch office.

Clover Health and Bright Health, two insurtech companies dedicated to health insurance, have in recent months received nearly 300 million dollars in their funding rounds, contributing to the growth of investment in the sector.

Propel Venture Partners announced its participation as a lead investor in a funding round for EaseCentral, a platform for managing health insurance for small- and medium-sized companies (SMEs) in the United States.

Volume, velocity, variety, veracity and value are the five keys to making big data a huge business.

Shared economy, wearables, autonomous cars, big data… with the help of startups, the insurance business has begun to adapt its business model to a new society. The investments in insurtech already exceed $1.7 billion annually.

BBVA Compass Insurance Agency, an affiliate of BBVA Compass, has partnered with Boise-based Covr Financial Technologies, a digital personal insurance platform, to offer insurance seekers direct control over the insurance-buying process with turnkey access to quotes and product information from a network of carriers.

Thirty years ago, microfinance revolutionized the market with affordable loans for the disadvantaged. Until then, the most vulnerable population segments were left out on the fringes of the financial system, and had no way of accessing credit. Today, with 2 billion adults still unbanked, new technologies are emerging with the potential to reach more people at a lower cost. But this opportunity is having a challenging impact on the current microfinance model, which was built on the pillars of personal relations and trust.

From an app to tell stories using fiction formats to a car insurance app to pay per mile traveled, startups are not lowering their guard in order to gain a foothold on the tech grid.

Which of these is most likely to happen in financial services?

1. Self-insuring products?
2. Drone-based banking?
3. API banking platforms?

Propel Venture Partners, the San Francisco-based venture capital (VC) partnership in which BBVA is an investor, today announced its investment in Hixme– its sixth investment since the establishment of the U.S. fund in February this year.

“Everledger is a digital, global ledger that tracks and protects items of value… and it’s on the blockchain.” Nearly seven months have passed since Everledger CEO and founder Leanne Kemp used this pitch to explain Everledger at the BBVA Open Talent 2015 Europe finals. After winning the European title of BBVA’s startup contest, Everledger has continued its hard work and achieved several major accomplishments, including moving into new areas like fine art and ethical supply chain finance – with more on the way. [Just as of last week, Everledger was included in the prestigious ranking The FinTech 50 of 2016]

Market downfalls at the beginning of the year have put investors on guard. The sharp decline in oil prices and questions over the Chinese economy leave their mark on the global economic outlook. BBVA Asset Management expects to see moderate growth in the global economy in 2016 but suggests caution when building portfolios due to increased risk. Diversification and hedging are necessary.