Made in Croatia

Croatian Company Amodo Creates "Pay As You Drive" Concept

By 26 August 2021

August the 26th, 2021 - The very young but already successful Croatian company Amodo has created a new and innovative ''pay as you drive'' concept which is sure to win over many drivers.

As Poslovni Dnevnik/Marina Bilus writes, just five months since its debut here on the Croatian market, the Croatian company Amodo, which until recently gained an exceptional reputation exclusively through international business, continues to transform the local insurance industry.

This globally renowned insurtech company, led by Marijan Mumdziev, achieved its first cooperation with insurers in the Republic of Croatia back in March, when Croatia Osiguranje (Insurance) launched LaqoPrevent, based on the the Croatian company Amodo's own platform.

Now, however, Amodo is joining forces with Uniqa Osiguranje, which, thanks to the smart solutions of this startup, has offered customers a pioneering innovation, even on the European scale - the Smart Kasko product.

As the name suggests, it is a comprehensive insurance that, thanks to the innovative Amodo platform, is fully digitalised, so the client has complete control over its contracting and use, through the app for mobile phones.

The real "revolution" in the Croatian company Amodo's innovation lies in the very structure of this type of comprehensive insurance because customers are offered two models of this product. The first is, let's say, basic and closest to the classic comprehensive insurance where the policies are paid annually. But the second model is truly the result of the “Pay As You Drive” concept, which has come to life in the global insurance industry with the flourishing of fintech.

Simply put, the client pays for this type of comprehensive insurance depending on the planned mileage, so they're offered several options - 100, 300 or 1200 kilometres, and they can then select them on a prepaid basis via the mobile app. So, the driver pays literally as much they drive.

Users can try the app out for free for 30 days, following their driving style, which is rated, and each with a ''score'' of more than 60 provides them with free kilometres that they can use when buying an extended package.

"Smart Kasko is the future of safe driving, a digital innovation we created by thinking about the needs of a client who doesn't want to pay for a full Kasko policy but instead just wants to pay depending on how much and how they drive," explained Sabine Usaty, CEO of Uniqa Osiguranje, adding that the move will increase safety, raise awareness of responsible driving, and with all this, it is still extremely easy to use.

"This is the most innovative ''Pay Per Mile'' insurance product at the European Union level," Amoda CEO Marijan Mumdzhiev stated, emphasising that the Croatian company Amoda, as a European insurtech leader, is especially pleased to realise cooperation with innovative companies in the insurance industry on the Croatian market because "they are jointly transforming the entire industry."

The Amoda and Uniqa project is also proof that Mumdziev foresaw well that numerous innovations on the Croatian insurance market were soon to take place.

For more, follow Made in Croatia.