Hellas Direct and Bazaraki.com join forces to further disrupt the Cyprus insurance sector - Cyprus Profile

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Articles | 22 March 2019

Hellas Direct and Bazaraki.com join forces to further disrupt the Cyprus insurance sector

Hellas Direct, a next-generation insurance company, has teamed up with Bazaraki.com, the leading e-commerce online platform in Cyprus.

The partnership plans to offer the platform’s users access to an innovative range of home insurance products and exceptional customer service.

Hellas Direct is a digital-first, full-stack insurance company, empowered by cutting-edge technology and artificial intelligence. It has recently launched its home-insurance offering in Cyprus in partnership with Swiss Re, one of the world’s leading reinsurers, and Revolut, Europe’s fastest-growing challenger bank. The three companies have introduced a wide range of innovations into the Cyprus market, such as the ability to buy insurance by the day, instant claims settlement and the payback of daily micro-payments to consumers who have not had a claim. Hellas Direct is backed by a roster of all-star investors, which include IFC, Third Point LLC, Portag3 Ventures, Endeavor Catalyst, former Goldman Sachs economist Lord O’Neill and private equity veteran Jon Moulton. Modelling itself after Amazon, Hellas Direct aims to disrupt the insurance value chain by adopting an extreme focus on operational excellence.

Bazaraki.com, the most popular listings website in Cyprus, is a modern 21st century bazaar. Sellers and prospective buyers can communicate directly for selling and buying real estate, vehicles, and many other products through an easy-to-use, seamless, tech-rich platform. Bazaraki.com is a leader in real estate sales and rentals, as every month more than 100,000 unique users are searching for properties available on the platform, while there are more than 24,000 properties available for sale and rent on a daily basis. Following the company’s takeover in 2017 and an impressive growth trajectory, Bazaraki.com’s executive team is now looking to enrich the platform with new products and ancillary services.

“With its innovative products and top level technology, Hellas Direct is the right partner for our switch to the field of home insurance, in a moment that real estate offering is one of our strongest points. We look forward to working with them and promoting home insurance products that modern day’s consumers actually need”, said Christos Kiliakoudis, Managing Director of Bazaraki.com.

“We are thrilled to partner with Cyprus’ leading e-commerce company. With Bazaraki.com, we share the same approach on innovation, direct communication and excellent customer service”, added Alexis Pantazis, Co-Founder and Executive Director of Hellas Direct.

“The cooperation with Bazaraki.com couldn’t have launched at a better time, as we look to accelerate our growth and strengthen our position both in Cyprus and in the wider region”, noted Emilios Markou, Co-Founder and Executive Director of Hellas Direct.

Both companies share the same drive to invest in people and cutting-edge technology. The partnership will soon enable prospective buyers to get instant, personalized insurance quotes on the go, by simply finding their property of interest on the map. In launching their partnership, Hellas Direct and Bazaraki.com are exclusively offering a €25 coupon to all Bazaraki.com clients who insure themselves through the site.

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