The largest Russia-based classified Avito and Sovcombank have started collaboration on developing digital financial services for car buyers. The aim is to allow Sovcombank clients to apply for car loans in a single-window, entirely within Avito interface. The agreement also stipulates that Sovcombank will use Avito Finance to offer its full range of lending products to Avito users.
“Now, customers can quickly and easily apply for a loan while choosing a car on Avito, significantly speeding up and simplifying the entire purchasing process,” said Sergey Khotsimsky, First Deputy Chairman of the Management Board of Sovcombank.
Avito has also entered into collaboration with AlfaStrakhovanie, the insurance arm of Alfa Bank, a leading private bank in Russia. The parties plan to develop joint products in the areas of long-term and short-term property rental insurance and warranties for electronics purchased on Avito. “Avito has long been a platform where users make significant transactions—from purchasing electronics to renting and selling real estate,” said Alexander Samsonov, director of strategic partnerships at Avito. “The partnership with AlfaStrakhovanie will allow us to strengthen user protection and integrate innovative insurance products directly into the service,” Samsonov said.
Collaboration with Avito is an excellent example of how an insurance product can become part of everyday life, said Vladimir Skvortsov, CEO of AlfaStrakhovanie. The partnership could potentially expand to related segments, including real estate, goods, jobs, and services, as well as comprehensive insurance solutions.
