Erste’s willingness to approach smaller niche blogs and social media accounts is a great example of
the cross selling business model being driven by the shift towards social media, mobility and digital apps
Erste Digital, a German-based FinTech startup, is pioneering a truly innovative B2B broker platform that distributes “annex” insurance, i.e., protection insurance as an add-on or supplementary to the purchase. The key to the Erste platform is that annex insurance is cross sold through social media or through an embedded extension in a mobile app as opposed to websites and legacy platforms. Furthermore, Erste Digital have focused their approach on three areas:
- Social web communities like Facebook, twitter, relevant forums and blogs
- Startups, which frequently need tailored insurance products for their customers
- Classic web shops: online and Point Of Sale, with a particular focus on the mobile internet.
Examples of how Erste Digital functions:
- You manage a large Facebook community or blog focused on topics such as working as an au-pair and studying abroad: Erste monetises it through sales of quality insurance products based specifically around this topic.
- You have a website or blog related to tech products, extreme sports or relationship support which Erste then cross sells ancillary insurance products to subscribers.
- You have a startup and are looking to open new income streams through marketing insurance and related services.
Erste Digital also offers white label solutions to insurers, functioning as a service provider for on-boarding smaller cooperative partners. Although cross selling is certainly nothing new, Erste’s willingness to approach smaller niche blogs and social media accounts is a great example of the cross selling business model being driven by the shift towards social media, mobility and digital apps as opposed to generic cross selling of homogeneous insurance products on websites with high traffic volumes.
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