YOLO: acquisition of Allianceinsay completed

17 feb 2023 Barcamper Ventures

The acquisition of the tech broker will allow YOLO to accelerate its growth in the innovation of distribution models through the phygital channel.

Milan, 17 February 2023 - Following what was communicated on 22 December 2022, YOLO Group S.p.A. (“YOLO” or the “Company”), a major player in the Italian insurtech market of digital insurance services, announces that today it has completed the acquisition of 51% of the share capital of AllianceInsay Broker S.p.A. (“AllianceInsay” or “Broker”), active in indirect distribution to car dealers of insurance products and services for the non-life branch of the automotive sector.

The transaction was concluded following the successful completion of the golden power procedure at the Presidency of the Council of Ministers and the fulfillment of all the remaining conditions precedent. The initial consideration for the acquisition, equal to approximately Euro 1.1 million, was confirmed as were the payment terms.

With this extraordinary operation, YOLO strengthens its offer on the automotive market, where investments in technological innovation towards intelligent mobility represent the main driver for growth in the coming years. In particular, the spread of interconnected and electric cars is opening up numerous business opportunities for the insurance industry called upon to design new products and personalized services, of temporary duration and directly linked to the actual use of the vehicle.

In addition to the commercial synergies deriving from the acquisition, there are also technological synergies which allow the Company and the Broker to pool their respective high-performance operating models
degree of digitization and distribution with the acceleration of the development plans of the "YOLO Insurance Network", the platform dedicated to agents and brokers launched last April.

YOLO's proposition will be able to reach a new user target made up of car dealers, whose future is increasingly linked to the network of services associated with car buying and selling according to a "hybrid" distribution model at the center of YOLO's strategic development plan.

Gianluca De Cobelli, co-founder and CEO of YOLO, commented: “With this operation, thanks to the technological expertise and distribution organization of AllianceInSay, YOLO can accelerate the growth in the phygital. In the meantime, we continue to work, in Italy and abroad, on the other guidelines of the development plan: the increase in the offer of digital insurance products; the expansion and diversification of partnerships with banks, companies and other players for the distribution of insurance products.

In 2023 we have already finalized two new important agreements, with Banco Desio and with Santa Lucìa, a leading Spanish insurance group. We are aiming for progressive and sustainable growth, both organically and, where opportunities arise, externally".

Antonio Villecco, COO of AllianceInsay, further commented: “This transaction is of considerable strategic importance for AllianceInsay, which intends to consolidate its leadership in the Automotive sector, extending its business model into new distribution channels and at the same time expanding its range of action throughout the country. Thanks to Yolo's contribution, we also count on making our digital-oriented approach in the distribution of insurance services even more efficient in order to guarantee our Business partners increasingly performing solutions in every aspect, in line with the needs of a dynamic and continuously evolution. We have a clear understanding of our role and are ready to play our part in consolidating the Group's development strategies".

Yolo Group was assisted by the Advant Nctm law firm, in the persons of Eleonora Sofia Parrocchetti and Vittoria Belcuore.

The seller was assisted by Paolo Vitaloni and Cecilia Stefanelli
of the LCA law firm. Finally, the Company announces that it has appointed, effective from 1 March 2023, Dr. Roberta Pazzini as Investor Relator Manager of the Company.

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