HELLAS DIRECT (EGFF)

Promoteur – Intermédiaire Financier

HD INSURANCE LTD

Lieu

• Chypre

Description

HD Insurance ("HDI") is a fully regulated general insurance company, founded in Cyprus in 2011, putting technology and innovation at the forefront of all its activities. It has built its own proprietary underwriting, claims management and online distribution platform which increases the efficiency of traditional services with the use of artificial intelligence (AI) / machine learning. The group's vision is to use this platform to generate leads and claims management fees and so contribute to the digitalisation of the insurance industry in Greece and Cyprus.

Objectifs

The project concerns the digitisation and innovation of the underwriting and insurance industry. The promoter's proprietary algorithms and platform allow it to execute traditional services more efficiently with the use of machine learning and AI. The research and development (R&D) programme includes the years from 2020 to 2022.

Secteur(s)

• Services - Activités financières et d'assurance

Montant BEI envisagé (montant approximatif)

EUR 15 million

Coût total (montant approximatif)

EUR 35 million

Aspects environnementaux

The operation concerns the Promoter's investments in technology and product development. Due to the nature of the operation (mainly R&D and innovative information technologies, sales and marketing investments), it does not fall under any annexes of the Directive 2014/52/EU amending the EIA Directive 2011/92/EU.

Passation des marchés

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.

Statut

Signé - 15/06/2021