EQS-News: Allane Mobility Group extends range of services with return protection insurance for lessees in cooperation with ELEMENT

Allane Mobility Group extends range of services with return protection insurance for lessees in cooperation with ELEMENT

Pullach, 7 September 2023 The Allane Mobility Group (Allane), specialist for vehicle leasing and full-service solutions in Germany, has once again expanded its range of services and now offers private and commercial customers the "Allane Return Protection" (Allane Rückgabeschutz) insurance. The new offering is made in cooperation with ELEMENT Insurance AG ("ELEMENT"), Europe's only full-service B2B2X insurance platform. The Return Protection Insurance provides Allane lessees with comprehensive coverage against unexpected costs that may arise upon the return of a leased vehicle due to identified diminished value. The insurance covers a wide range of damages, including paint damage, scratches, dents, dings, interior and trunk damage, and rim damage.

Donglim Shin, CEO of Allane Mobility Group: With our new insurance, we enable our customers to minimize financial risks from the lease and offer them additional security and convenience. The 'Allane Return Protection' also supports our strategic goals of further expanding the modular service offering and placing greater focus on innovations and cooperations."

Tim Kaltofen, Vice President Sales at ELEMENT: "We are very pleased about the cooperation with Allane Mobility Group. ELEMENT's vision is to make the provision of insurances as easy and available as possible for our partners throughout the European Union. We are convinced that the end customers of Allane Mobility Group will benefit from the new insurance offer.

The "Allane return protection" is effective when the lessor makes justified compensation claims resulting from reduced values due to excessive use of the vehicle. It applies to personal and commercial leases for up to ten vehicles on a mileage lease. The insurance is available for passenger cars and commercial vehicles up to 3.5 tons registered in Germany. The maximum insured value is EUR 210,000. The return protection insurance can be taken out for a maximum of one year before and eight weeks after the vehicle is handed over, with the term of the insurance contract corresponding to the term of the respective leasing contract. The compensation amounts to a maximum of EUR 3,000 net per leasing contract.

In the case of "Allane Return Protection", Allane acts as an intermediary, with the insurance contract being concluded between the lessee and ELEMENT. Through strategic partnerships and cooperations, Allane SE aims to continue expanding its product and service offering in the future in order to further strengthen its position in the leasing market.

Further informationen on the Allane Return Protection are available here.

---

About Allane Mobility Group:
Allane Mobility Group based in Pullach is a multi-brand provider of comprehensive mobility solutions. In its business fields Retail Leasing, Fleet Leasing and Fleet Management, the Company offers a wide range of services and innovative solutions that make mobility easy in every way.

Private and commercial customers use Allanes online and offline platforms to lease new vehicles affordably or acquire used vehicles from a large stock. Corporate customers benefit from the cost-efficient full-service leasing of their vehicle fleet and from comprehensive fleet management expertise.

Allane SE (ISIN: DE000A0DPRE6) is listed in the Prime Standard of the Frankfurt Stock Exchange. In the 2022 financial year, the Group generated consolidated revenue of around EUR 717 million.

With around 92 percent, Hyundai Capital Bank Europe GmbH (HCBE), a joint venture of Santander Consumer Bank AG and Hyundai Capital Services Inc., is the largest shareholder of Allane SE.

https://allane-mobility-group.com/en

Press Contact:
Kirchhoff Consult AG
allane@kirchhoff.de

About ELEMENT:
ELEMENT Insurance AG is the leader in the seamless delivery of insurance for its partners in Europe. The 100% cloud based InsurTech is licensed by the Federal Financial Supervisory Authority (BaFin) as a primary insurer for property and casualty insurance, while being able to operate as a risk carrier in all EU countries. As a digital icompany, ELEMENT can create innovative insurance solutions quickly, flexibly, reliably and efficiently along the entire B2B2X value chain in the European market. The combination of insurance and technology expertise makes ELEMENT a pioneer of digitization in the insurance industry.

https://www.element.in/

Press Contact:
Ana Feijoo (Head of Marketing & Communications)
ana.feijoo@element.in