myPOS blog Case Studies

myPOS and Virtual Broker– in favour of easy and accessible insurance services

We all enjoy the benefits of low-cost air tickets and various options to travel. Now, it is considered common to jump on a plane and fly to another European city just to take a look around and have some weekend fun. With the rise of travels abroad and the number of personal automobiles used for shorter trips, the need for insurance has also risen. Yet, according to insurance companies, the number of insurance coverage sold is not where it should be, given the new circumstances. What are the reasons for this phenomenon, then?

The reasons

According to the Bulgarian insurance company, Virtual Broker, the reasons are hidden in the negative experience of 50% of all insurance company clients – an opinion supported by a whopping 70% of all millennials! In simple words, people are disappointed by slow and sluggish insurance services, incomprehensible contract clauses and the need to fill in many documents. In addition, there’s one more surprising reason – in the flow of dynamic daily life, many people simply forget to buy insurance. A fact that leads to slow insurance market growth and unpleasant consequences in the event of an accident.

The solution

Just like many other companies, Virtual Broker has turned to technology to find a solution. The result is the creation of a digital online platform in the form of a kiosk, which makes it possible to serve a client who needs insurance 24/7/365. The kiosk is then positioned in spots that are crucial in everyone’s travel itinerary like petrol stations, airports, border checkpoints and other similar locations. Thus, Virtual Broker clients can obtain insurance when they need it wherever they need it without having to waste time at an insurance company’s office.

But where’s myPOS then

myPOS is providing the payment technology through a POS terminal built into the kiosk. Therefore, the terminal allows clients to pay quickly, easily and with no fees when getting insurance. And on the other side, Virtual Broker instantly receives the money paid and can operate with it immediately, while using all other advantages of the myPOS platform such as:

  • No monthly or yearly service fees
  • Low transaction fees
  • FREE merchant account and mobile app
  • FREE debit card to use your money with and much more

myPOS has been a payments partner to Virtual Broker for 6 months now, and without this, it would be impossible for the solution to work.

What the future holds

Virtual Broker plans to install a large number of kiosks in various European countries in the near future, so our partnership will only grow. What matters is that more and more people will be able to pay for insurance quickly and easily when they need it – and this is a win-win situation for everyone.

So, next time you travel, don’t be surprised if you see a Virtual Broker kiosk. Instead, buy an insurance policy and experience the future of payments and insurance for yourself!

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