Zurich:
Swiss Re’s iptiQ and ImmoScout24, Germany’s leading online real estate platform, are launching a loss of rent insurance product that integrates seamlessly into ImmoScout24’s digital ecosystem.
In just a few clicks, private landlords can protect themselves against the financial uncertainties that can arise from new tenancy agreements, said Swiss Re..
Swiss Re’s iptiQ is a white-label provider of property & casualty and life & health insurance. Its unique B2B2C business model, combined with the iptiQ platform, enable brands like ImmoScout24 to offer new digital insurance solutions to their customers.
Around two-thirds of private landlords have experienced issues such as irregular, incomplete or missing rent payments, however, 90 per cent of these do not have any loss of rent insurance, said Swiss Re.
Andreas Schertzinger, CEO of iptiQ EMEA P&C, says: "With ImmoScout24, we have found the ideal partner in Germany to offer customers tailor-made household insurance products online precisely when it matters. Thanks to the seamless integration of our product into ImmoScout24’s digital ecosystem, customers can insure themselves against the risk of rent-related losses directly online and throughout the rental process."
Ralf Weitz, Managing Director of ImmoScout24, says: "The digital ImmoScout24 loss of rent insurance means that we can provide private landlords with an innovative service that makes renting out a property safer for them. Alongside our cooperation partner iptiQ, we can help make renting even easier, while minimising the impact of losses. This is particularly relevant if tenants experience difficulties meeting rent payments as a result of the COVID-19 pandemic – and other factors, of course."
Rent out worry free and avoid losses
As an insurance partner, iptiQ is now offering ImmoScout24 customers a digital loss of rent insurance product and, in doing so, is giving added security to private landlords. If there are difficulties with rent payments, the insurance will cover the complete or partial loss of up to six months’ rent (including additional costs) or a maximum amount of EUR 10 000, with annual premiums starting at EUR 40.90.
Easy to manage and flexible
The new loss of rent insurance product is available on the German market, can be taken out with just a few clicks and is easily managed online. The insurance is valid for one year from the start of a new tenancy and can be cancelled on a daily basis.
This loss of rent insurance product is offered under the ImmoScout24 brand and is closely integrated into the online real estate platform’s digital ecosystem. While ImmoScout24 acts as a registered agent, all insurance-related aspects are covered by iptiQ, from the user journey to the issuing of policies, and the management of contracts to the settlement and payment of claims. This allows both partners to focus on their respective areas of expertise.
The digital loss of rent insurance from iptiQ and ImmoScout24 can be purchased by landlords who are residents of Germany .