Kommersant learned about Avito’s plans to offer insurance to buyers

It is proposed to sell insurance using an intermediary model: the platform will charge partners a commission for publishing insurance services. Insurance companies, in turn, will be able to reach a broader audience as long as the classified company effectively promotes insurance products, said the publication’s interlocutors.

The company stated that cooperation with insurance organizations is already underway through Avito Travel; Avito Services is not yet negotiating with the insurance company. The service’s press service highlighted that the company is “testing various hypotheses to integrate new products into services, which will be associated with improving the customer journey and the security of transactions.”

Markets and rating services similar to Avito see insurance as an additional source of financial profits through a new source of lead generation, noted Olga Blednova, head of the practice of providing consulting services to companies in the financial sector at Kept, in a conversation with Kommersant. According to the newspaper’s interlocutors, Avito will be able to charge a commission of up to 40%.

Avito is not the first service that is trying to enter the insurance market. Thus, in September of this year, Ozon, based on Ozon Insurance, developed an insurance policy for transportation companies using the white label model. The insurance covers losses arising from the loss or damage of cargo, and insurance claims in the amount of up to 500 thousand rubles are reviewed online.

In early October it became known about Yandex’s plans to develop the insurance sector. According to the publication’s interlocutors, the company is actively hiring specialists and looking for an insurance company to acquire and integrate into its own ecosystem.