Disruptive, unique, innovative, low-cost & all-in fee rental guarantee

About AvalVida

Problem addressed by AvalVida: To rent a property is expensive for the tenant (=renter) in any market due to: commission for real-estate agent, cautionary deposit in some countries, move, possible home renovation and, principally, bank deposit in order to obtain the rental guarantee and the guarantee's recurring commissions. A rental guarantee is a necessary product, because it is demanded by property owners (=landlords) in any market. Innovation Description: AvalVida's use of the pledge (assignment) of a life insurance-savings or annuity policy by tenant in favor of the landlord to guarantee the obligations under a rental agreement charging an all-in fee independently from the term of the rental agreement. Other rental guarantees like those issued by banks and insurers charge fees regularly on a yearly base during the whole term of the rental agreement. Target customers: - Tenants who need a rental guarantee and own an assignable life insurance-savings or annuity policy - And usually take out a bank guarantee - Any age and sex - Monthly rent from $600+ (US$) / € 600+ Euro How does AvalVida's innovation add value? AvalVida's added value for insurers, bancassurers and intermediaries: - Unique, competitive, innovative & simple add-on and CRM-tool. - Helps insurers and bancassurers in their customer retention efforts and to cross-sell single premiums - Additional income - Easy to use - Tool for life insurers to compete with banks in the provision of rental guarantees For tenants: - 70% cheaper - All-in fee - No bank deposit - No recurring charges - No other charges - No contracting of additional products like accounts, credit cards, home insurance, etc. - Little documentation - No limitations - No credit assessment like bank guarantees or rental insurance For landlords and real estate agents: - Eases rentals - Additional income (real estate agents) - Immediate and secure payment of outstandings (landlords)

Data AvalVida

Created Spain, October/2013
Wokers 4
Status Growth

Inversores AvalVida 0

Acceleradoras AvalVida 1