30 May 2024

Yolo and Viasat agreement for embedded insurance offering.

Milan, May 29, 2024 YOLO has completed a further stage in the development of embedded insurance (policies embedded in products or services) with an agreement becoming operational that was signed with Viasat, a company of Targa Telematics, one of the leading global players in the field of Internet of Things (IoT) and the development of digital solutions and platforms for connected mobility.

The agreement provides for the integration of Viasat’s electronic devices with an insurance policy for roadside assistance and legal protection. YOLO will bring its expertise in insurance solutions, technology, and services that enable digital distribution to the partnership.

The contract is part of Sicuri & Protetti, Viasat’s offering dedicated to intermediaries. This offering includes digital services applied to the automotive sector for the prevention and assistance of people and vehicles, such as satellite anti-theft systems (with a 24/7 operations center), accident alerts, and telematics data certification for fine disputes and claims management. Viasat’s offering is distributed through a network of 350 intermediaries operating throughout the national territory.

The partnership also provides for the distribution of Viasat’s services through the YOLO Insurance Network (YIN), the phygital network of YOLO’s professional intermediaries, thereby enriching the offering portfolio. Agents and brokers adhering to YIN will also be able to offer the product separately from the auto liability policy. The training program to support the distribution activities of the YIN network has already been launched.

Gianluca De Cobelli, CEO of the YOLO Group, commented: “The partnership with a primary operator of automotive services like Viasat has a twofold value: it increases YOLO’s growth potential in embedded insurance and enhances our penetration in a market where, by virtue of our subsidiary AllianceInsay, we already have a significant presence”.

 Massimiliano Balbo di Vinadio, Vice President for Large Account Sales of Targa Telematics and Viasat, commented: “The insurance sector is increasingly strategic for Viasat and Targa Telematics. The partnership with YOLO, one of the most reliable digital brokers in the market, expands our range of services in this area, allowing us to offer integrated and innovative solutions aligned with market needs”.

The press release is available in the Investor/Press Releases section of the website, www.yolo-insurance.com.

 

 

YOLO GROUP

YOLO Group is one of the leading insurtech companies in Italy, with a presence abroad and with two lines of offerings: services for enabling digital distribution of insurance products of insurance companies, banks and retailers (e.g. utilities and large-scale retailing); direct distribution of insurance products carried out in collaboration with companies. Since its establishment at the end of 2017, YOLO has developed 55 partnerships in Italy and abroad to enable digital insurance offerings. In direct distribution, YOLO has adopted a hybrid (so-called phygital) model, which combines digital and physical channels. In 2022, it launched Yolo Insurance Network (YIN), a platform that enables smaller insurance agencies and brokers to integrate digital into the physical management and distribution model. More than 500 brokers have joined YIN. YOLO has been listed since 2022 in the ordinary segment of Euronext Growth Milan. The shareholder base, in addition to the two co-founders (Gianluca De Cobelli and Simone Ranucci Brandimarte), includes Generali Italia, Intesa Sanpaolo Vita, Neva SGR, Primo Ventures SGR, Be The Change, CRIF, Mansutti, Net Insurance, Miro Venture, and Banca di Piacenza.

Web site: www.yolo-insurance.com

 

TARGA TELEMATICS   

Targa Telematics is one of the leading global players in the field of IoT and in the development of digital solutions and platforms for connected mobility.With over 20 years’ experience in connected vehicles, it provides technological solutions in telematics, smart mobility and digital IoT platforms for mobility operators. The company targets short- and long-term tenants, large financiers and large fleets, with a range of services from insurance telematics to asset and fleet management, remote diagnostics and telemetry for vehicles, professional and construction site vehicles, as well as airport service vehicle management. With the acquisition of the Viasat Group in 2023, Targa Telematics has strengthened its presence in European markets, with a strong presence in Italy, England, France, Spain, Portugal, Belgium, Poland and Romania, as well as in Chile, with the capacity to operate within international projects with fully dedicated local teams.  Targa Telematics is a participant in the United Nations Global Compact and shares its principles based on a responsible business approach.

www.targatelematics.com

 

 

CONTACTS

 

YOLO GROUP

Media Relations

Twister communications group

Lucia Saluzzi [+39] 347 5536979

Emilio Miosi [+39] 338 6546410

yolo@twistergroup.it

 

TARGA TELEMATICS 

Media Relations

Barabino & Partners

Linda Basilico, [+39] 334 6708127

Luciano Majelli, [+39] 335 749 1684

barabino.targatelematics@barabino.it