Romanian online retailer enters insurance market

Online retailer evoMag has entered the insurance market, aiming to sell 10,000 insurance policies per year, including mandatory car insurance policies (RCA), according to the company. Customers are now able to choose from the offers of eight insurers on the evoMag website. The company wants to offer its customers several types of insurance policies in the next months. It has started with RCA policies because there is already a tradition in acquiring online this type of insurance policies, said evoMag general director Mihai Patrascu. The RCA policies are delivered in up to two days after placing the order. In the next period, customers will also be able to buy travel and home insurance policies on the evoMag website. evoMag is one of the biggest local online retailers. The company that holds the brand, Evolution Prest Systems, reached a turnover of EUR 18.8 million in 2016, up 9% over the previous year. evoMag’s biggest competitor is eMAG, which had a turnover of close to EUR 865 million in 2016. eMAG also sells insurance. Romanian online retailer evoMAG.ro plans to open 50 delivery points editor@romania-insider.com