Receivables management with artificial intelligence: BavariaDirekt pilots fintech application from PAIR Finance
Munich/Berlin – May 5, 2021 – The digital insurer BavariaDirekt is the first company in the Versicherungskammer Group to test the receivables management system developed by PAIR Finance on the basis of artificial intelligence (AI). BavariaDirekt is thus consistently expanding its competencies as a digital insurer.
With PAIR Finance’s technology, all BavariaDirekt customers can easily and securely manage outstanding receivables on their smartphones. They are directed to a personalized payment page and can not only settle bills within a minute, but also create individual installment payment plans.
With the additional help of data science and insights from behavioral research, insured persons are addressed via a wide variety of communication channels and sensitized to pay the overdue debt. In this way, even after all deadlines have expired, they are spared legal dunning proceedings – and possible costs for a lawyer and court. Instead, they are shown possible solutions.
PAIR Finance is one of the first service providers to work entirely with AI. State-of-the-art link generation technology and personalized QR codes ensure absolute data security and protection against unauthorized access. All technical solutions strictly comply with the standards of the General Data Protection Regulation.
BavariaDirekt benefits from self-service functions such as the intelligent “PAIR Finance Analytics” performance tool, which uses interactive data visualizations to provide real-time insight into the development of the receivables portfolio. This provides more feedback and an improved cash flow through a targeted and customer-oriented approach, and is cost-neutral for BavariaDirekt.
We are delighted to have PAIR Finance as a partner who will help us to optimize BavariaDirekt’s digital customer collection journey. We expect both high customer satisfaction and optimal payment returns from the collaboration.
Iris John is responsible for BavariaDirekt’s receivables management within the Versicherungskammer Group.
We are delighted that BavariaDirekt is taking this pioneering step with us. PAIR Finance is oriented towards social change, which has accelerated again in recent months: Mobile internet, online insurance and digital payment methods are demanded by a growing number of people. Debt collection must therefore also be digital and personalized for insurance companies. We see the partnership as proof that our AI-based approach is gaining further importance in the insurance market.
Stephan Stricker, founder and CEO of PAIR Finance, a start-up from finleap’s ecosystem.
Press photo material can be found at: https://www.pairfinance.com/mediakit-bavariadirekt/
Media contact person:
Jürgen Haux
Corporate Communications Group Versicherungskammer
Telefon +49 89 21 60-30 07
juergen.haux.@vkb.de
Denise Schönherr
Corporate Communications PAIR Finance
media@pairfinance.com
Konzern Versicherungskammer/ Insurance Chamber Group
The Versicherungskammer Group is the largest public insurer nationwide and now the seventh-largest primary insurer in Germany. In fiscal 2020, it generated premium income of 9.36 billion euros. With its regional companies, the company is active in Bavaria, the Palatinate, Saarland, Berlin and Brandenburg. Together with the other public insurers, the health insurer of the S-Finanzgruppe operates throughout Germany. The social commitment of the Versicherungskammer Group is of great importance. The strategy of supporting voluntary institutions and initiatives, which are particularly active in the field of prevention and safety, has been additionally strengthened for several years by the two foundations, Versicherungskammer-Stiftung and Versicherungskammer-Kulturstiftung. In addition, the Versicherungskammer Group has been awarded the “Work and Family” certificate as a family-friendly company for the third time. It has around 6,900 employees, including a good 270 trainees.
About PAIR Finance
PAIR Finance is the leading AI-based debt collection and receivables management company. Through digital communication channels and behavioral analytics, PAIR Finance realizes the outstanding receivables of defaulting consumers more efficiently and in a more customer-oriented manner. The company was founded in Berlin in early 2016 and offers its services to more than 300 business customers from a wide range of industries. The rapidly growing team currently consists of 110 employees and is led by founder and CEO Stephan Stricker.
