Financial Services (105)
Insurers sell prevention
The Dutch insurance company Interpolis has opened an online prevention store. This store sells products such as fire safety sets, burglary alarms and other equipment that prevents possible disasters.
Why it matters
An insurer offering such products has huge relevance for consumers. It shows the brand is working in their favour instead of just trying to take money on their loss. Will more insurers begin to provide their customers with relevant products or services that reduce risk
and could this see a reduction in premiums too?
Turkish bank Garanti have upped the ante in the mobile banking segment by enriching the quality of their mobile banking service and content using the latest in 3G technology. Users can access video-based daily market reviews as well as having the option of applying for mortgage and credit cards via video calls on their phone.
A southern Spanish village has started using a new currency, complementary to euros, called “Pitas”. Pitas can be changed to euros or labour time, where one Pita is valued at one euro or six minutes of labour. So users of the currency can buy whatever they need and pay with 24 minutes of ironing or washing dishes if that is the value of the product or service.
To avoid seeing a devaluation of the currency, it must be used within the first 3 months or it loses 10% of its value. It also has an expiration date and its total value will be lost if it’s not used within a year.
The village celebrated its 1st Pitas fair, a marketplace where people used euros or labour to obtain pitas or buy products they needed with the currency.