ERGO and O2 Telefónica form partnership

Under the terms of the partnership, O2 Telefónica customers in Germany will be able to purchase supplementary ERGO insurance via the telecom provider’s digital channels – overseen by its subsidiary Telefónica Insurance.

The partners have unveiled two initial products as part of the arrangement:

• O2 Care | Mobility – offers a ‘mobility guarantee’ to customers in the event that their rental car or bicycle breaks down
• O2 Care | Travel – offering  international health insurance with repatriation, rescue, and recovery, as well as travel and emergency assistance.

Mobility, which can be purchased for €4.99 a month – minimum term of 12 months – launched on 7 August.

Travel is due to go on sale this autumn, and will be available for both individuals and families.

The companies also stated that they have two more products for other areas that they plan to release in the near future.

“Embedded insurance is one of the most dynamic developments we are seeing in the digital insurance market today,” said Mark Klein, Chief Digital Officer of the ERGO Group. “It enables providers to combine traditional insurance policies with state-of-the-art technology and digital services. With embedded insurance, we are turning traditional insurance cover into insurance-as-a-service.”

Allianz Partners Australia recently formed its own embedded insurance partnership with Singapore Airlines.