Ukrainian insurtech enters the European level: UKASKO as part of the AUB delegation in Brussels

The Ukrainian financial sector is moving towards digital transformation and European standards, and advanced IT solutions play a key role in this process. Representatives of the Ukrainian IT project UKASKO - one of the leading insurtech projects in the field of insurance technologies - became part of the official delegation of the Association of Ukrainian Banks (AUB), which visited Brussels for a series of meetings with European officials and representatives of European and international financial institutions, UNN reports.

As a technology partner of the insurance market, UKASKO demonstrates that innovation is key to the integration of the Ukrainian financial system into the European ecosystem. The company, which specializes in B2B solutions for insurance companies, brokers, and agents, offers a powerful cloud-based CRM platform that automates processes, helps control the interaction of insurers with customers, and provides transparent, reliable accounting of transactions and claims settlement. UKASKO's successful experience with leading Ukrainian insurance companies, including INGO, TAS Insurance Group, Knyazha, VUSO, Oranta, European Travel Insurance, USG, Ukrainian Transport Insurance Company, and others, can serve as a model for scaling technologies in the Ukrainian and international markets.

Ukrainian delegation in  Brussels: what's on the agenda

During the three-day program, the Ukrainian delegation, including representatives of the banking and insurance sectors, associations and technology companies, met with key European officials. The main events included:

●        Negotiations in the European Parliament with Vice President Sabine Verheyen and Deputy Chair of the Budget Committee Monika Hohlmeier.

●        Discussion at the European Commission with Executive Vice President Valdis Dombrovskis and Director General for International Partnerships Henrik Hololei.

●        Roundtable with representatives of the European Commission and international banks on the implementation of ESG principles, sustainable development and countering cyber threats in the financial sector.

●        Meeting with representatives of the European Investment Bank to discuss programs of cooperation with Ukrainian business.

●        Negotiations with representatives of the European Central Bank (ECB) on regulation and supervision in the banking sector and harmonization of standards on the way to Ukraine's accession to the EU.

The meetings focused on digital transformation and insurtech solutions that help financial institutions operate more efficiently, transparently, and reduce risks.

The Ukrainian delegation includes Yaroslav Lelya, CEO of UKASKO, who represents the latest technologies in the insurance sector. "The participants of the meetings in Brussels are interested in exchanging views and experience in the field of digital financial solutions that  make the market more efficient. Insurtech is not just a trend, but a necessity for financial service ecosystems that focus on openness, transparency and reliability of interaction between all market participants,"he said.

The insurance technology sector is developing dynamically in the EU, so sharing experience in implementing standards and digital solutions for the insurance industry can be beneficial for all parties. As Ukraine is recognized as one of the most digitized countries in Europe, domestic fintech and insurtech companies not only follow global trends but also shape them by offering flexible and scalable products to the market.

The visit of the Ukrainian financial sector delegation to Brussels took place at a time when Ukraine is deepening its cooperation with the EU in the financial and banking sector on its way to joining a united Europe. Harmonization of regulatory standards, investment attraction, and the introduction of digital technologies will be the main drivers of the Ukrainian market's adaptation to European norms.

Ukrainian fintech and insurtech companies, such as UKASKO, play an important role in the transformation of the insurance and financial industries and successfully promote their innovative services in international markets. The successful integration of technological solutions into the Ukrainian market is another step towards Ukraine's full integration into the European financial system.