JDC and Volkswagen Bank agree to a 5-year contract to transfer processing of insurance transactions

- JDC client portfolio grows by an additional 100,000 clients

- Reaffirms growth strategy aimed at discriminating clients

 

Volkswagen Bank, which is part of the Volkswagen Group, and Jung, DMS & Cie. Pro GmbH, part of JDC group, have signed a minimum 5-year partnership agreement for transacting and brokering of insurance products in the non-mobility insurance sector.

Volkswagen Bank plans to transfer over 100,000 insurance contracts to JDC's platform and will transact all new business through JDC's IT and infrastructure. In addition, Volkswagen Bank is entrusting JDC with the complete, all-round support of its clients through the JDC service team.

By doing so, Volkswagen Bank will be able to significantly reduce its IT investments and focus its own resources on professional online sales through a premium client service. Conversely, JDC can expand utilisation of its existing platform and thus achieve an above-average margin on sales.

"After extensive review and intensive discussions, we are pleased to be able to normalise our collaboration through long-term partnership agreements. Volkswagen Bank is one of the leading staffing brokers with a high degree of online expertise that provides its customers with wide-ranging and proficient service," said Ralph Konrad, CFO of JDC Group AG, in commenting on this ground-breaking agreement for JDC.

"The partnership between Volkswagen Bank and JDC shows that digitisation is dramatically altering structures in the marketplace. Intermediaries of all kinds no longer want to keep increasingly complex administrative matters in-house", adds Dr Sebastian Grabmaier, JDC Group AG CEO. "We, on the other hand, are fully focused on automating and digitising business processes involved with brokering financial products. This promises significant benefits and synergies, in particular for larger market participants. That's why we have the fullest confidence in our platform model and see the partnership with Volkswagen Bank as yet another confirmation of the success of our strategy."

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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, via our subsidiary Jung, DMS & Cie., we provide our customers and advisors with modern advisory and administration technology. 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 help advisors, brokers, banks and other intermediaries 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 using the FiNUM Group. With over 16,000 connected sales partners we are one of the market leaders in the German-speaking region.

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