Younited expands its insurance offering with the launch of « Younited Care » and rolls out its first partnership with Owen
Beyond credit application with Younited, Europe's leading instant credit provider, it will soon be possible to take out insurance tailored to the equipment or project financed, with just a few clicks and no hidden costs. To accelerate the roll-out of this new offer, Younited has chosen Insurtech Owen and its embedded insurance solution.
The strategic context for Younited
For several years now, Younited has offered borrower's insurance, accessible when taking out a loan, to protect its customers during the repayment period.
Today, Younited is launching Younited Care, which marks the expansion of its insurance offering with a range that will be progressively enriched. This step marks a key moment for Younited, which is consolidating its positioning in its 4 key markets:
- credit, directly or via partners with its historic Younited Credit offering,
- instant credit payment, in partnership with merchants via the Younited Pay solution,
- financial education and budget optimization, with the Younited Coach solution launched in 2022,
- and insurance, with the new, expanded Younited Care range.
« The Younited platform gives our consumers access to instant credit, payment in instalments, and our budget optimization coach. The addition of the Younited Care insurance solution is perfectly in line with our commitment to provide simple, fast, and personalized services to support and protect our customers in all their projects. »
François de Bodinat, Chief Product Officer of Younited
Younited Care's roadmap
Launched in France in October 2023, and in a particularly difficult inflationary context, the service will first offer Younited users an "Income guarantee", with coverage of household expenses of up to €1,800 per month for one year, particularly in the event of redundancy, health problems, etc.
More broadly, the company's ambition is to offer, at the time of taking out a loan with Younited or a partner merchant, a set of reinforced protections against various life hazards: sudden drop in standard of living, vehicle damaged during repayment, cancellation of a nice trip, loss, theft, or breakage of an insured product, etc.
Eventually, Younited plans to roll out Younited Care in its other European markets. More than a million customers will benefit from enhanced protection to better support them in their day-to-day lives.
« Our objective was to offer our customers a new range of insurance products to better protect them. To achieve this, we chose Owen: for the recognized insurance expertise of their founders, and for the ability of their technological platform to make the best products on the market easily accessible. »
Rémi Perry, Chief Strategy Officer of Younited
How the first offer launched with Owen works
- With Younited Care, a customer can choose to add additional protection when taking out a loan, directly in the Younited customer path (taking out a personal loan or paying via Younited Pay).
- Owen protections, like all affinity insurance products, are optional and their prices vary according to the level of coverage desired by the customer.
- Once the loan and insurance(s) have been taken out, the customer receives his or her insurance contract and, in the event of a claim, benefits from rapid, automated handling by Owen's services.
« Our API, the first of its kind for an Insurtech, enabled Younited to expand its insurance range in just a few weeks. Our offers are fully embedded in the various personal loan application journeys, ensuring an extremely fluid underwriting experience and an optimal customer adoption rate. »
Thibault Masson and Pierre-Olivier Grall, co-founders of Owen