Citadele Bank

Citadele introduces a unique service among banking mobile apps - buying insurance in a few minutes

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Starting today, Citadele customers can purchase accident insurance in their bank's mobile app. It is the first type of insurance that the bank offers to purchase in a fully automated way, however, it is planned to offer other types of insurance in the future. Insurance services are provided by Citadele Group company CBL Life. By adding this function to the app, Citadele takes the next step in the evolution of banking services by expanding the range of subscription-based services.

Vladislavs Mironovs, Citadele Chief Strategy Officer and member of the Management board: “Banking mobile apps are playing an increasing role in the everyday lives of people, as almost all services can be done remotely and more important - automatically. Buying accident insurance and applying for claims in the bank's app within minutes shows the added value of digitisation because, firstly, the time it takes to get the service is clearly reduced and, secondly, it becomes relatively easier as signing multiple documents becomes a few clicks in the mobile app.”

The calculation of the monthly insurance cost does not distinguish between a person's age, gender or occupation, and everyone is charged the same monthly fee, which is automatically paid every month from the client's bank account.

Accident insurance is offered in several levels, depending on the desired coverage, and operates around the clock, anywhere in the world. Using the app, you can also insure other people, such as family members.

"Offering insurance services in the bank's mobile app is our promise and the next step in subscription-based banking services. The goal is to provide clients with the opportunity to personalize the services they need by combining them from different parts, choosing the most appropriate payment card, insurance and other digital financial services" adds V. Mironovs.

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