Irish insurance technology company Companjon has signed an agreement to provide modern lifestyle insurance solutions to Este Bank Hungary’s customers.

The agreement will provide Erste Bank Hungary’s customers with access to the insurtech start-up’s AI-powered insurance solutions through George, the bank’s digital platform, starting in early 2024.

Earlier this year, Companjon and Erste Bank Hungary initiated their collaboration through the bank’s fintech initiative, Bankspiration.

The latest move allows Companjon to integrate its insurance solutions into Erste’s George app.

This integration allows account holders to safeguard themselves against unforeseen events and modern-day uncertainties, the companies claim.

Companjon CEO Matthias Naumann said: “We are very excited to team up with an iconic, well-established brand like Erste Bank Hungary, helping them stand out in the fintech sector by providing innovative end-to-end embedded insurance solutions that enhance their customers’ purchases and fuel Erste’s digital ecosystem.

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“Our AI-driven solutions will offer Erste customers frictionless insurance experiences that help turn negative experiences into positive ones in real-time.”

Companjon said its insurance solutions feature intelligent automation for seamless claims processing. This ensures a smooth experience with instantaneous payouts directly deposited into the accounts of Erste Bank Hungary customers.

Erste Bank Hungary digital and contact centre head László Bek-Balla said: “Companjon’s digital strategy is well-aligned with our vision of ensuring our customers ‘stay ahead’ and their consideration of our unique customer needs in the design of these insurance solutions is exemplary.”

Earlier this year, Companjon partnered with European neo bank bunq to offer an extended warranty and purchase protection solution to the latter’s customers.