Vakuutustori Oy has become our first Finnish partner to launch the Maiden Life & General Income Protection (Tuloturva) product in the summer of 2020, which provides security for unemployment, disability and accidental death for both employees and entrepreneurs.
Vakuutustori commented: “In the early spring, we saw a lot of discussion about Finnish unemployment insurance and it seemed that small entrepreneurs in particular were facing hard times. We wanted to bring people the opportunity to buy extra security in addition to the existing unemployment cover available, and to also take into account entrepreneurs who have less security than a regular employee. In cooperation with Maiden Life & General, we were able to offer all these insurance coverages to Finns with one product.”
The product was launched in just a few weeks due to Vakuutustori’s technological expertise, Maiden Life & General’s agility and desire to expand into the Finnish market and First Insurance AB.’s support with materials, training and local regulation. The first Income Protection Tuloturva insurance was sold in August 2020.
Daniel Deckers, Managing Director of Maiden General, comments: “We are extremely pleased to be launching our Income Protection product in Finland with Vakuutustori and providing vital protection and security to Vakuutustori’s customers during this uncertain time.”
Pasi Puntari, CEO of First Insurance Finland and Baltics comments: “This project was an extremely interesting start for our collaboration in Finland and showed that new insurance products can be launched in very short period of time. It’s a matter of Vakuutustori´s technological capabilities, Maiden´s flexibility and the understanding of local requirements from First Insurance.”