hiPRO is a Polish insurtech startup whose goal is to connect the worlds of insurance, banking and payment institutions. The company has teamed up with Braintri, another Polish startup, to launch a new platform called Connector, which will allow insurance companies to offer customers policies paid in installments. The loan will be financed by a bank, not by the insurer.

The pilot program, which has just started, involves Alior and Inbank, as well as 100 Alianz insurance company agents, mainly in the Lublin and Wrocław area. They can offer their customers motor insurancepolicies split into twelve payments. All they need to do is enter the customer's personal information, such as their earnings, form of employment or number of dependents. Then Connector will randomly choose one of the participating banks, which will review the customer's credit ability in real time.

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Braintri's Wojciech Zatorski says that the new system is beneficial for everyone. - First of all, insurance companies will find it easier to sell more products because if the payment is split into twelve installments, the customer will be more likely to buy an additional AC or Assistance policy - said Zatorski. He added that insurers will also be exposed to less risk because the loan will be offered by a bank that has the appropriate experience and is more effective in debt collection. The banks will then benefit from selling micro loans, while the customers will have the option of paying off an insurance policy in installments, which can be significant given the latest hikes in insurance prices.

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hiPRO's offer will soon also include Benefia's insurance policies. - We are talking with two major insurance companies that have a combined 10 percent share of the motor insurance market - said Artur Olech, the president and founder of hiPRO. He announced that Nest Bank will also join the project. – Working with PayU will allow us to add more services to our platform, which will, for instance, make it easier to pay the monthly installments. The customers will be reminded to make their payments - said Olech.