Iute Group Advances Strategy with Iute Affinity Insurance Subsidiary

Iute Group, a European digital-first banking organization, is reinforcing its platform approach by incorporating insurance solutions through its subsidiary, Iute Affinity. The initiative aims to integrate third-party insurance products within its digital banking services, enhancing protection alongside core financial products.

Iute Affinity will act as an operational infrastructure, improving the Group's existing insurance intermediary activities. This development leverages partnerships with major insurers like Allianz Partners, UNIQA, and MediGuide, distributing services through the Myiute superapp.

Alma Ribanovic, with over two decades of experience, will lead Iute Affinity. The subsidiary will focus initially on existing markets, collaborating with insurtech partners to bolster capabilities in digital underwriting and claims automation.

The new entity aims to expand offerings, including subscription-based travel insurance and payment protection insurance in Moldova and Bulgaria.