In a large majority of cases, home loan borrowers take out both the loan, and the insurance for that loan, with their bank. A law change (the Bourquin Amendment) in 2018 changed the rules of the game. Borrowers were now able to change their home loan insurer once a year, at the anniversary of their contract. The Assurly adventure began in 2017, thanks to this amendment.

Toufik Gozim, one of the founders of the company, draws a parallel with the telephone operator market.

"This market is 90% trusteed by bancassurers, who apply margins much higher than for any other insurance product."

Assurly has positioned itself to shake up the insurance world with a proposal that defies all competition.

Less paperwork and more savings

Assurly's team has created the "end-to-end" concept. In three minutes, the client obtains a personalized quote on their cell phone. In 10 minutes, they can have a new policy in place through Assurly.

The customer does not have to worry about the administrative part of the transfer, which is taken care of by Assurly’s internal team. Assurly promises its customers substantial savings. Given that banks share 88% of the market and apply substantial margins, this is not a hollow promise.  

Assurly is also leveraging a favorable legislative environment. From June 2022, new rules will apply for new contracts and, from September, for existing contracts. These new rules will make it possible to change loan insurance at any time. Prior to these changes, the customer must wait until the anniversary date of the contract to move insurer. In addition, the health questionnaire or medical examination will no longer be mandatory where the loan is less than €200,000 and if the loan period does not extend beyond the client's 61st birthday.

New rules for borrowers: good news for Assurly!