(Alliance News) - Revo Insurance Spa on Thursday announced that it has received authorization from IVASS to operate the Legal Protection line of business. "The company now expands its offer through insurance solutions in this area dedicated to professionals and small and medium-sized enterprises," reads the released note.

The new line," the company press continues, "follows REVO's usual approach to product development: a transparent insurance proposal, easily accessible and at the same time with high quality standards, designed and built according to a modular structure that allows a wide range of customizations. This is thanks to OverX, REVO's proprietary technology platform, which facilitates the intermediary in filling out the data collection form by providing and cross-referencing multiple pieces of information drawn from internal and external databases. In this way, the policy quotation and issuance process is facilitated and faster than average."

Pierpaolo Mezzanini - head of legal protection and assistance at REVO - commented, "According to ANIA 2022 data, the Legal Protection line of business grew by 6.5 percent again this year, with total premium income of about 600 million. In the last four fiscal years, premium income has grown more than EUR100 million: a figure that is improving year by year, steadily."

"The potential of this highly articulated market is manifold, and OverX will be able to be the key to support the intermediary both in assessing the prospective risk and in building the insurance solutions that best meet customers' needs," Mezzanini concluded.

Revo Thursday rises 1.6 percent to EUR8.70 per share.

By Maurizio Carta, Alliance News reporter

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