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Measures to make customers' lives easier

Bankia launches a monthly insurance payment splitter

In the line of the digitization of the entity, any user can also take out new insurance quickly and easily.

Communication Bankia

By  Communication Bankia

Publish on 
21 April 2020 - 12:30

  • It can divide your insurance premium payments into 12 months and group them all into a single monthly instalment
  • With this service, customers will be able to pay their insurance premiums in a more convenient manner and it will help them plan and manage the economy of their household
  • During April, May and June, management expenses for this service are waived to mitigate the impact of the Covid-19 crisis

Bankia has launched an insurance premium splitter that will allow customers who have contracted these products with Mapfre and Bankia Mapfre Vida through the bank's network to divide the payments of insurance premiums into 12 months and group them all into a single monthly fee.

Customers may split payment for home, car, life, accident, health and death insurance policies that are paid in an annual payment or a single premium and whose amount exceeds 120 euros.

As part of Bankia's commitment to mitigate the impact of the coronavirus crisis in Spain, during the months of April, May and June, the management fee for insurance will be waived. In addition, as of June, it will be possible to split all payments of new policies free of charge during the first year.

Insurance policies are divided into 12 instalments, except in the case of new health insurance contracts, as they always expire on 31 December. In this case, the first splitting would take place for the remaining months until the end of the year.

In line with the digital transformation benefits that Bankia has been offering to its customers, this new service can be contracted at Bankia Online, the entity's Internet office.

Pilar Gracia, director of Insurance and Services of the Marketing Division at Bankia, underlines that “this initiative is part of Bankia's commitment to make the lives of its customers easier, by releasing products and services that respond to their needs, especially in a situation like the current one”.

For her part, the Director of Insurance at Bankia, Aurora de la Fuente, explains that "this service allows customers to pay their insurance premiums in a more convenient manner, helps them in the planning and management of their home economy and facilitates access to more and better insurance policies”.

Growth in insurance activity

Bankia has an Insurance business area specialised in insurance policies for both individuals and companies, which during the last financial year had a very positive evolution thanks to good commercial dynamics.

Thus, new premiums registered a year-on-year increase of 26.2% in 2019, 24% in life insurance and 29% in non-life insurance policies.

In addition, within the business branch, the increase in civil liability insurance (+28%) and credit insurance (+59%) stood out.


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