Insurance companies Bestinshur and Renaissance Insurance began to offer to pay for their products in installments, that is, using BNPL services. This service makes it possible to attract new clients, and insurers pay for the service, writes Kommersant.
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By using BNPL, the cost of the insurance product to the customer does not change. This payment model itself does not generate interest and the insurer only pays for the acquisition, explained the Podeli service.
Analysts expect significant growth in the market for these services. However, some large companies prefer to fend for themselves, and the Central Bank and human rights activists point out the risks to consumers in the absence of regulation of such services.
The regulator considers it necessary to “build protection for the user of the installment payment plan at the same level that the borrower who has contracted a consumer loan is currently protected.”
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
