Hellas Direct, the next-generation insurance company, and PrimeTel, the fastest-growing telecommunications company in Cyprus, join forces and plan to further promote innovative home insurance solutions for the Cypriot consumer.
Hellas Direct and PrimeTel share the same passion for innovation and new technologies. Both have partnered up with Revolut, Europe’s fastest-growing challenger bank. PrimeTel’s subscribers have gained the ability to make easy, secure and fast payments through the Revolut app. They also get to use a prepaid VISA card, branded by PrimeTel, that rewards them with free MB and other bonuses. At the same time, using Revolut’s technology, Hellas Direct has introduced a wide range of innovations into the Cyprus market, such as instant claims settlement and the payback of daily micro-payments to consumers who have not had a claim, to their Revolut accounts.
The strategic partnership between PrimeTel and Hellas Direct paves the way for innovative processes in the Cyprus market, and at the same time sets a promising framework for the exchange of know-how in the new technologies sector. Through this collaboration, all new and existing PrimeTel subscribers will have access to innovative home insurance services, at an exclusive price. Other initiatives are also expected, since PrimeTel and Hellas Direct have set a number of strategic goals through their partnership.
“We are particularly excited to be partnering up with Hellas Direct, one of the most innovative online insurance companies, since we will be able to offer our subscribers access to top level insurance services, at an even better price”, said Theodosis Theodosiou, Chief Commercial Officer of PrimeTel.
“We look forward to working with the No 1 telecommunications company in Cyprus. With PrimeTel we share the same drive to invest in innovation and technology and provide excellent customer service”, said Alexis Pantazis, Co-Founder and Executive Director of Hellas Direct.
“We are thrilled to be joining forces with PrimeTel. The timing is perfect, as we look to accelerate our growth and strengthen our position both in Cyprus and in the wider region”, noted Emilios Markou, Co-Founder and Executive Director of Hellas Direct.
About Hellas Direct
Hellas Direct is a digital-first, full-stack insurance company, empowered by cutting-edge technology and artificial intelligence. Modelling itself after Amazon, Hellas Direct aims to disrupt the insurance value chain by adopting an extreme focus on operational excellence. Hellas Direct is backed by a roster of all-star investors, which include IFC (a member of the World Bank), Portag3 Ventures, Endeavor Catalyst, former Goldman Sachs economist Lord O’Neill and private equity veteran Jon Moulton. It has recently launched its home insurance offering in Cyprus in partnership with Swiss Re, one of the world’s leading reinsurers.