Reale Group Partners with Fabrick and Joins Shareholding with Minority Stake
- 06.06.2023 09:35 am
Reale Group, a renowned player in the insurance industry which operates in Italy, Spain, and Chile, has selected Fabrick, a pioneer in the Open Finance sector, as its preferred partner to digitise its offerings and enhance the customer experience. Following a successful initial collaboration between the two companies, the partnership has evolved into a strong strategic alliance, marked by Reale Group's investment in Fabrick's shareholding with the acquisition of a minority stake in Fabrick, demonstrating the value recognised in Fabrick and its platform model.
With the integration of Fabrick's collection and payment management platform by Reale Mutua, Italiana Assicurazioni, and Blue Assistance, the collaboration has yielded numerous benefits for retail customers. To enhance accessibility, the new instant loan product, "Credito assicurativo," has been launched, facilitating monthly premium payments for policyholders, and simplifying proposal and distribution processes within insurance agencies.
Commenting on the partnership, Massimo Luviè, General Manager of Banca Reale and Co-General Manager of Reale Mutua Assicurazioni, stated:"Reale Group has been actively engaged in digitising its processes and offerings, and we have experienced the tangible benefits of Fabrick's platform model and its innovative capabilities at the highest market levels. By integrating Fabrick's platform into our Reale Ites systems, we have established a robust technological architecture that has digitized operational processes, from premium payment systems to agency accounting. This integration ensures an excellent user experience for our clients and agencies. The flexibility of the front-end systems will also enable us to rapidly evolve and simplify administrative procedures to meet our customers' needs. Our investment in Fabrick's capital confirms our commitment to forging a valuable industrial partnership, with the goal of making financial and insurance services more accessible and user-friendly for our customers."
Paolo Zaccardi, CEO and co-founder of Fabrick, added: "We are extremely pleased with Reale Group's investment in our company, as it highlights the concrete advantages that Open Finance brings to organisations embracing innovation. Reale Group has first-hand experience of how collaborating with a partner like Fabrick, using an innovative platform that combines open banking with collection, payment, and digital lending services, drives a virtuous transformation process and enables rapid responses to evolving market demands. I am confident that this elevated level of partnership will drive further innovation and simplify financial and insurance services, enhancing the end-customer experience and bringing mutual benefits to both parties."