“By reinvesting assets generated within the local market, Hellas Direct reaffirms its long-term commitment to Romania. Our objective is to solidify our position, expand our market share, and establish ourselves as a dependable partner for insurers and policyholders alike”, said Alexis Pantazis, co-founder and Executive Director at Hellas Direct.
Hellas Direct aims to deliver a streamlined, efficient, and transparent insurance experience that bolsters customer trust. Understanding the market challenges, the company is actively building a skilled and experienced local team of in-house experts, currently 40 strong and growing only in claims handling. To further optimize operations, Hellas Direct has successfully implemented a proprietary claims handling system in Romania, mirroring the high standards established in Greece. This system, proven to process claims four times faster than the industry average in Greece, serves as a benchmark for operational excellence in the Romanian market as well.
"Our vision for Romania is clear: we are here for good, aiming to contribute to the local economy, creating jobs, fostering innovation, and providing top-notch insurance services," said Emilios Markou, co-founder and Executive Director at Hellas Direct. "We aim to build lasting partnerships with local brokers and offer tailored solutions that meet the evolving needs of our Romanian consumers.”
Hellas Direct has already paid over €84.9 million in claims for its Romanian customers to date. By working closely with over 170 brokers that represent 95% of the market and a growing active portfolio of over 842,000 policies by the end of 2024, Hellas Direct is committed to supporting the Romanian insurance market and introducing new products.
The company's strategy includes the rollout of new digital solutions for brokers and policy management systems, continuing its commitment to affordable insurance for all by leveraging data-driven insights. Hellas Direct is set to enhance its services by introducing new and innovative features to its existing offerings, such as Motor Third Party Liability Insurance (RCA) in Romania. With plans to expand into additional coverage options like Personal Accident, Roadside Assistance, and other motor-related products, the company reinforces its commitment to customer safety and satisfaction while continuously innovating in the local market.
As the most recommended insurance brand in Greece, Hellas Direct brings a reputation for integrity, transparency, and customer-centricity to Romania. With an NPS (Net Promoter Score) exceeding 70% (higher than any other insurer in Greece) and a customer retention rate of over 85%, the company is committed to making insurance more accessible and affordable for all. Committed to providing straightforward and honest insurance solutions, Hellas Direct ensures there are no small print or hidden terms.
Hellas Direct is positioned to deliver on its promise of creating a safer, more secure future for its customers. With strategic partnerships with Munich RE and Swiss RE in place, Hellas Direct continues to grow backed by a roster of all-star investors, including ETF Partners, Portage Ventures, International Finance Corporation (IFC - a member of the World Bank Group), European Investment Bank (EIB), Endeavor Catalyst, and renowned family offices, including those of Jon Moulton and Lord O'Neill. The company's strong solvency ratio of 190% as of December 2023 demonstrates its financial health and resilience, further solidified by a recent capital injection of €10 million in May 2024.
"We envision a bright future for Hellas Direct in Romania," said Alexandru Grigorescu, Operations and Claims Manager – International Development at Hellas Direct. "Our objective is to become the premier partner for brokers and the preferred choice for customers, contributing positively to the local economy and community.”
Hellas Direct is a digital-first, full-stack insurance company, leveraging technology and data analytics to deliver innovative solutions. With over a decade of experience, the company retains a customer base of more than 1,3 million policyholders across Greece, Cyprus, and Romania, and is now ready to expand in new markets in Central Eastern Europe. Hellas Direct offers comprehensive car, motorcycle, and home insurance products and provides financial services to meet evolving needs in the broader mobility ecosystem. With significant backing from strategic investors, the company has recently secured €66 million in funding. Hellas Direct has been recognized four times as one of the Financial Times' "1000 Fastest Growing Companies in Europe."
