Romanians’ focus on environmental solutions also increases their interest when it comes to powering their homes with green solutions such as photovoltaic systems. Of course, these systems require significant capital investment, and their insurance provides full financial protection in case of undesirable events. UNIQA Asigurări has developed an insurance product – ECOhome Protect – through which, with minimal costs, Romanians can insure their PV systems against any accidental risk, be it weather conditions or any other accidental factor that may arise.

Alexandrou Damian, Affinity Business Development Manager at UNIQA Insurance, who coordinates and develops this business segment, talks in an interview about the importance of Affinity insurance, which can be attached to purchased goods, from mobile phones, electronic products, glasses, photovoltaic systems and many others, and protects the buyer against possible unexpected financial losses.

What is Affinity Insurance?

Affinity insurances are very simple, straightforward, practical insurance products designed specifically for a specific category of products that can be sold exclusively through a partner (store, retailer, supplier, manufacturer, etc.).

Interest insurance is one of the easiest ways to cover the end consumer for others cover an urgent need and protect him from possible unexpected financial losses. In short, this type of insurance is added when a customer buys a product from a partner store to protect it in the event of damage.

When did Affinity Insurance become popular?

Affinity insurance is a field that is constantly developing, taking into account the diversification of customer needs.

As far as the UNIQA portfolio is concerned, the first products insured in this way were mobile phones, then TVs, tablets and other electronic systems, then we expanded to cover glasses and later electric scooters.

These types of insurance are becoming more and more popular, and UNIQA fully contributes to raising the level of public awareness of risks, as well as solutions in the insurance market. The main factor that determines the popularity of these products is the ease of obtaining such insurance. By visiting the store once, you can purchase the product and insure it.

We firmly believe that this niche of insurance products will have an important development in the coming years, and we will witness the diversification of insured risks, creating a high degree of compliance in the lives of Romanians.

Why do you recommend investing in Affinity Insurance?

The need to purchase another product or possible repairs in the event of an undesirable event can create financial discomfort, and insurance prevents this need and comes to the rescue to provide peace of mind to the end consumer.

We want there to be a better understanding of these benefits and an openness of companies to develop partnerships and offer end customers the opportunity to add this type of insurance to the products they distribute so that this market grows and more buyers benefit from this benefit.

When did photovoltaic systems become part of UNIQA’s list of insurable goods?

The demand for insurance for photovoltaic systems appeared several years ago with the development of the government’s Green House program, through which the government provides financing for the installation of photovoltaic systems that produce renewable energy. And from year to year we experience accelerated demand in this segment.

At UNIQA, we are committed to engaging the community and supporting those who want to live a sustainable lifestyle by offering them affordable financial protection solutions. In addition, with less than 1% of the annual investment cost, our customers can purchase ECOhome Protect insurance, which covers any accidental risks that may damage the PV system.

At the end of last year, UNIQA received the Best General Insurance Product award, won for ECOhome Protect, at the UNSICAR Awards Gala. What do you think the award will bring and why is this product valuable in Romania?

Yes, this award honors us and at the same time commits us to continue development in the field of Affinity insurance. In a market accustomed to retail and corporate business models, bancassurance and leasing, the fact that Affinity’s product has received this award is flattering and confirms the vision we have for the local insurance market. At the same time, it is a testament to the team’s efforts to bring to market products that change people’s lives in communities for the better.

I believe that it is diversity, sustainability and out-of-the-box thinking that have helped us win this award for the ECOhome Protect product. At the same time, it supports and complements the large-scale projects of the state, giving consistency to the Casa Verde program, which is currently being implemented. We are happy to be a part of such initiatives aimed at protecting the environment and improving the quality of people.

Environmental development is an important component of UNIQA’s strategy and reflects how the brand positions itself in relation to society. How do Affinity products contribute to this goal?

UNIQA actively promotes sustainable development through insurance products dedicated to green energy, such as insurance for photovoltaic systems and environmentally friendly transport solutions for unregistered electric vehicles. We are always aware of national trends and our products reflect this aspect.

In addition, through our insurance products, we want to bring balance and peace to everyday life, reducing the degree of stress and increasing the quality of life, because UNIQA can insure consumer goods and take care of everything in case of undesirable events.

What are your expectations for PV insurance sales from Affinity in 2024? What other goals does the Affinity Department have?

If the framework was created last year and the formalities necessary for the normal functioning of the Green House program were completed, then in 2024 we are sure that the program will be active, and this aspect will be seen by the number of applications and concluded insurances for this type of product.

UNIQA constantly monitors current projects, as well as those planned, in order to support the institutions that organize them with insurance solutions adapted to specific needs. In this way, UNIQA also contributes to a “better life together” for the end customer.

In addition, we want to continue on the path we have started and develop new products not only for PV systems that meet the current needs of the consumer, but also update the products already in our portfolio by continuously improving them, depending on the feedback received from our partners and end consumers.

The article is supported by SC “UNIKA”.