DepositPass Qorus-NTT DATA Innovation in Insurance Awards 2025

Submitted by

DepositPass

Premium

17/12/2024 Insurance Innovation

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

Innovation details

Country
United KingdomCategory
Product & Service InnovationKeyword
Customer experience, Savings & Investments, Insurance, Real Estate, Retail bankingBusiness Line
Life InsuranceDistribution Channel
Partners

Innovation presentation

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

- 1st: Tenant or 3rd party assigns defined amount equivalent to the one of the rental deposit of his savings account or life insurance savings in favour of landlord.

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

- 3rd Landlord delivers keys to tenant.

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