First European Life Insurance Company jumping into the digital currency age
Sankt Gallen, Switzerland - July 2017 - Payment21.com, an AML-compliant digital currency payment processor, has recently announced its new partnership with EU-based NOVIS Insurance Company which will enable the insurer to accept digital currency in all of their markets.
NOVIS has started to accept Bitcoin through Payment21.com enabling customers to pay for life insurance contracts online. In light of its multinational scope, offering a truly global payment method to an international customer base represents a natural and logical step for NOVIS.
“At NOVIS, we focus on finding just the right mix of local and alternative payment methods for our customers. We have chosen Payment21.com for accepting digital currency because of their strong focus on regulated industries”, explained Siegfried Fatzi, founding shareholder and CEO of NOVIS.
Selecting a regulated processor like Payment21.com ensures bank-grade compliance with AML/KYC regulations. Bernhard Kaufmann, General Manager of Payment21.com, stated, “At Payment21.com we’re fortunate to partner with the most innovative insurance company in the industry today. NOVIS has a unique approach in the insurance landscape, we’re committed to provide our expertise and technology to help their expansion plans as well as assisting them in their goal of reaching new markets”.
NOVIS Insurance Company’s commitment to innovation is reflected in the unique new life insurance product “Wealth Insuring”. It is currently offered in Germany, Austria, Italy, Poland, Czech Republic, Hungary, Finland, Slovakia, and in the global expatriate market. Such a one-stop whole life wealth insuring or pension insurance contracts can be changed anytime without additional fees.
Utilizing an award-winning platform with universal reach and the possibility to offer customized e-billing plans goes along with the insurer’s mission. “Unseen flexibility as well as thinking global and acting local are core principles of our business culture”, Fatzi added.
In line with adding digital currency as a payment method, NOVIS expands its portfolio of 7 innovative insurance funds with a new Digital Assets Insurance Fund mainly investing into mining and trading. By this step, NOVIS becomes the 1st insurance company offering its clients the possibility to invest into the new world of cryptocurrencies through life insurance contracts. NOVIS has launched 25 product innovations in the last few years.
NOVIS’s target audience includes also professionals working abroad. Expatriates and their family members are often among the early adopters of innovative online financial services, especially now that the use of digital assets is on the rise. Therefore, embracing digital currency appears to be an obvious solution for this vertical.
Payment21’s expansion into regulated industries is based on building sustainable relationships within the financial service community in Switzerland and across the European Union. The company attributes its growth to an increased interest in digital currency among qualified investors, asset managers, investment funds, institutional clients, and commercial banks. Even though Payment21® is at the forefront of the movement towards financial digitalization, the Fintech firm has deep roots in the traditional finance and banking sector and understands its vital role.