We are an online insurance company. We began operating in 2012 with one main goal: change the Greek insurance sector. We have introduced our first innovations in the car insurance sector and we are now ready to bring change in other sectors and countries too.
We want to make insurance simpler and easier for you. And at the same time, we aim to develop integrated solutions for the mobility ecosystem.
This is why we have built a team of smart, passionate, driven individuals whose main goal is to be at your service and to make your insurance journey better and more modern.
During 2021 we welcomed on-board leading investors, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB).
They’re added to an all-star roster of investors backing Hellas Direct, including Portage Ventures, the IFC (member of the World Bank Group), Endeavor Catalyst and well-known family offices. Among other things, the outcome of this is a very strong solvency and capital coverage position.
As a result, we have foundations strong enough to support us in bringing positive change in the insurance sector, to develop new products and expand to new markets.
We have also accomplished a strategic collaboration with the reinsurance companies Munich Re, Swiss Re and Hannover Re. This provides us with both stability and access to the smartest teams in insurance and reinsurance in Europe.
At the end of 2021 we expanded beyond insurance launching wallet+, a range of mobility financing solutions. In our home market, we also provide a set of mobility ecosystem services which we also plan to develop and integrate in Romania. The service levels we have achieved in our home market resulted in Hellas Direct receiving the highest NPS score in the market and being recognized by the distinct service levels.
HD Insurance Limited (“Hellas Direct”) is a general insurance company established in 2011, incorporated in Cyprus and regulated by the Cyprus Superintendent of Insurance.
The Romanian Branch is established under the Freedom of Establishment EU rules, under the name HD INSURANCE LIMITED NICOSIA – SUCURSALA BUCURESTI, with a registered address at: Bucharest, District 2, 8 – 10 Tudor Arghezi St, Ground Floor, 020945.
The registration of the Romanian branch under the Freedom of Establishment rules is another proof of the long-term devotion of Hellas Direct to the Romanian market.
Hellas Direct plans to initially offer a Motor Third Party Liability product in Romania, distribution of which will begin via non-exclusive partnerships with two respected Romanian insurance distributors. Hellas Direct will support its partners objectively and impartially in the market, while not granting exclusivity even for a limited time. Additional motor and home products will be added to the offering at a later stage.
Hellas Direct, an innovative, technology-driven insurance company operating in Greece and Cyprus, today announced that it will be embarking on the next stage of its international expansion strategy by opening a branch in Romania.
Hellas Direct is a digital-first, full-stack insurance company, empowered by cutting-edge technology and the use of advanced analytics. The company is backed by a roster of leading investors, including the EBRD, Portage Ventures, IFC (a member of the World Bank group), Endeavor Catalyst, and a number of world-renowned angel investors. With the latest round of funding, the firm’s total raised funds surpass 50mEUR. Hellas Direct was recently listed by the Financial Times for the third time as one of Europe’s 1,000 Fastest Growing Companies.
Hellas Direct has built its own proprietary underwriting software and has developed a cutting-edge claims management platform. Using technology as a competitive edge, the company plans to replicate the multi-product, multi-channel approach it has successfully deployed in Greece and Cyprus.
The Company plans to initially offer a Motor Third Party Liability product in Romania, distribution of which will begin via its Branch, through insurance Brokers, with the help of two respected Romanian outsourcing partners as regards to support activities that are complementary to insurance distribution. Hellas Direct will support its partners objectively and impartially in the market, while not granting exclusivity even for a limited time. Additional motor and home products will be added to the offering at a later stage.
Hellas Direct is excited to work with its two outsourcing partners in the Romanian market to offer the same customer-centric insurance experience currently enjoyed by its clients in Greece and Cyprus. The Company prides itself on its focus on extreme operational excellence, and the use of innovative technology to simplify and add transparency to the insurance process.
“We are really proud to be starting operations in Romania. This is the next step in our strategy to replicate our business model across borders and we can't wait to take our product to Romanian consumers", said Alexis Pantazis, Executive Director and co-founder of Hellas Direct.
“This is a great moment for Hellas Direct. We believe we have the best partners on the ground in Romania, and in the shape of our reinsurer, Munich Re, and with their support and know-how we believe we can bring a great experience to Romanian drivers!”, commented Emilios Markou, Executive Director and co-founder of Hellas Direct.For accurate and up-to-date information on Hellas Direct's expansion to new markets, please refer only to the Company on their official channels.