Linxo/Fluo partnership Making It Easier to Change Insurance

For customers planning to terminate their insurance contract at year’s end, the account aggregation service Linxo is including a French InsurTech’s service in their marketplace for financial services. Through this partnership, Linxo will allow 1.7 million users to take control of their borrowers’ insurance contracts.

The InsurTech Fluo initially focused on analysing credit card-related insurance services, and went on diversifying their range of offers. Considering a recent investment from Arkéa, Fluo developed an insurance comparison service with detailed analyses of all the contracts subscribed by a household.

The new SaaS-based insurance recommendation engine will be added to Linxo Market. Its users will be provided free access to this feature, enabling them to compare different offers based on prices and insurance coverage. The point is to help them save on borrowers’ insurance costs and identify most relevant insurance coverage services.

This partnership will first be dealing with guiding customers through the process of changing their borrowers’ insurance. It should, however, be expanded to include other products such as car, home and health insurances later on.

Comments – A win-win partnership

Now that the right for borrowers to switch credit insurance every year has entered into effect, many FinTechs and new players have been paying attention to this market to challenge banks (Assur@ccess, Utwin, Inixia, April, etc.). Linxo, however, has a different goal in mind: first of all, they want to expand their marketplace and, second, they want to take advantage of the new legal context to further aim for diversification via adding more services.

Linxo already has partnerships in place with several FinTech companies which contributed to enhancing their platform, e.g.: savings offers (with Raisin, Grisbee, or Birdycent) and accounting services (with OneUp).

Fluo, for its part, can rely on this partnership to target even more customers, since they will be provided access to Linxo’s bases. Both companies –in which Arkéa holds shares– have highlighted a similar objective: guide the users through optimising their budget management tasks. This agreement also stresses actual synergies between the AssurTech and FinTech sectors.