JDC Group and comdirect plan future cooperation in insurance segment

- Online bank comdirect plans to expand its insurance business.

- JDC to provide processing technology.

- JDC Group offers an end-to-end digital system for client- and contract management.

 

In November 2017, the broker pool Jung, DMS & Cie., which is part of the Frankfurt listed JDC Group AG (ISIN: DE000A0B9N37; Bloomberg: A8A.GR), announced a partnership with Lufthansa subsidiary Albatros.

As to a letter of intent (LOI), a prospective partnership is in preparation with an additional major client: comdirect bank AG. The online bank is planning to expand its product portfolio in the coming year to include insurance. comdirect intends to manage its clients' insurance portfolios using JDC's own client and contract management software, iCRM. With comdirect's 2.4 million clients, the planned partnership offers great potential.

Using JDC's digital solution, clients may not only be able to keep track of all their insurance policies at a single glance, they may also be able to optimise them - digital, fast and easy. This might bolster comdirect's strategy of serving as its clients' smart financial advisor.

"comdirect is about to deploy the smartest system in the market and by doing so, will gain an edge over other recently announced bancassurance models," explains Stefan Bachmann, Board Member at JDC Group AG. "This will allow comdirect to become the 'financial home' for all financial products and expedite the creation of a well-conceived digital 'bancassurance business model'. Along with sophisticated applications, this will also include a legally enforceable and functional mass-processing tool that fully complies with data protection requirements," Bachmann added.

 

About JDC Group AG

JDC Group AG (ISIN: DE000A0B9N37) stands for modern financial advice and intelligent financial technology for advisors and customers. In the "Advisortech" business unit, we provide our customers and advisors with modern advisory and administration technology using the Jung, DMS & Cie. Groups. While many sales and distribution partners perceive the technological transformation as a problem and the young Fintech companies as the new competitors, we perceive the "technology" factor to be a great opportunity. Solutions from the "Advisortech" business unit will help advisors in the future to take even better care of their customers and generate increased sales in their earnings. In the "Advisory" segment, we procure financial products for private end customers via free advisors, brokers and financial distributors using the FiNUM Group. With over 16,000 connected sales partners, a portfolio of more than EUR 4.5 billion and over EUR 1.5 billion in product sales each year, we are one of the market leaders in the German-speaking region.

Disclaimer:

The Directors of JDC Group AG hold a significant participating interest in JDC Group AG and have a self-interest in the nature and content of the information provided in this release.

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