August the 31st, 2022 – Croatia osiguranje’s (insurance) LAQO has introduced cryptocurrency payments on its webshop, making it the first insurance company in all of the Republic of Croatia to enable this type of payment.
As Poslovni Dnevnik writes, the owners of cryptocurrencies can now buy Compulsory and Kasko car insurance, completely digitally, in a simple, quick and smart way on the LAQO website. This innovation was introduced in cooperation with the well-known Croatian fintech company Electrocoin, and payment with cryptocurrencies takes place through their electronic payment service PayCek, which guarantees security to customers.
As many as thirteen different cryptocurrencies can be used on the LAQO webshop – bitcoin (BTC), bitcoin cash (BCH), ether (ETH), ripple (XRP), EOS, stellar lumen (XLM), DAI, tether (USDT), USDC, binance USD (busd), saltwater (SOL), dogecoin (DOGE) and litecoin (LTC).
“LAQO is the first insurance company in the Republic of Croatia to introduce payment with cryptocurrencies, which has brought us even closer to our more digital users, offering them a completely new shopping experience. As a digital insurance brand, we continuously introduce innovations which take care of the community in which we operate and encourage a wave of innovation throughout the market, and we’re preparing even more news soon,” said Ana Zovko, Director of the Digital Development Sector of Croatia osiguranje.
The cryptocurrency payment option can be selected at the end of the insurance purchase, where a list of available cryptocurrencies is provided. When choosing the option of paying with cryptocurrencies and accepting the conditions, the amount in kuna equivalent is displayed where you need to enter your email and select the desired cryptocurrency. After choosing a cryptocurrency, the customer can then scan the QR code with their crypto wallet, and after making the payment, they will receive a confirmation email.
LAQO osiguranje is a digital brand of Croatia osiguranje, which operates as part of the Adris Group, and in its current offer offers car insurance which can contracted in just a few clicks on their website. The introduction of cryptocurrency payments is just one in a series of LAQO innovations, another one being LaqoPrevent, a digital platform that uses telematics technology to promote responsible behaviour when on the road.
For more, make sure to check out our dedicated business section.