09/02/2024 Insurance Innovation


Unique Low Cost and Insured Rental Deposit | No cash disbursement! | One-Off & All-in Fee! | New business for life insurers

Innovation presentation

DepositPass converts a fraction of a tenant‘s life insurance into a rental deposit in 3 steps.

- 1st Tenant or 3rd party assigns defined amount of his/her savings policy in favour of landlord.

- 2nd DepositPass in exchange issues Rental Deposit in favor of landlord.

- 3rd Landlord delivers keys to tenant.

Uniqueness of the project

Ryanair of rental deposits

Use of pledge (assignment) of life insurance-savings policies by tenants in favor of landlords to guarantee obligations under tenancy agreement charging one-off & all-in fee independently from term of tenancy agreement. Other rental deposits - banks & insurers - charge fees & premiums regularly and yearly during whole term of tenancy agreement.

Underwriting process, credit assessment and/or risk scoring are not necessary making DepositPass technically very simple.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

20/02/2024 Insurance Innovation

Lyfery - Prevention Driven Life Insurance

Lyfery backround Lyfery is an insurtech company based in Estonia, founded 1.5 years ago by individuals with extensive experience in...

15/02/2024 Insurance Innovation

An expert weather model for a fast and efficient claims management

To simplify the management of weather-related claims, Société Générale Assurances has integrated a solution that enables its claims handlers to...

12/02/2024 Insurance Innovation

Inclined Line of Credit - iLOC

Owners of permanent life insurance invest in their policies to provide for loved ones after they’re gone, but also to...

02/10/2023 Banking Innovation

Cash Flow, Current Account and Saving Account Analysis (ANDREA)

- There are many tools for analysis/window dressing of current and/or saving accounts such as - Current Account Report (formerly...

Related news & insights

Digital Reinvention
28/02/2024 News

Klarna's AI assistant transforms customer service landscape

Klarna's recent unveiling of its AI assistant, powered by OpenAI, has already made significant waves in the customer service realm.

Digital Reinvention
27/02/2024 News

Cash on call: CaixaBank and Correos partner for convenient delivery service

Exclusively available to CaixaBank clients, this innovative offering allows individuals to request cash deliveries ranging from 60 to 500 euros...

Digital Reinvention
26/02/2024 News

Alipay's AI revolutionizes Chinese new year with 600 million interactions

Running from January 29th to February 9th, users eagerly embraced the digital festivities, collecting digital Five Fortune cards within the...

Digital Reinvention
22/02/2024 News

Tonik introduces 'Luv Stash' for couples: Joint savings made easy

Tonik Digital Bank is revolutionizing savings for couples in the Philippines with its latest offering, the 'Luv Stash.' This unique...