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The German unit of Swiss insurer Baloise will use a new robo-adviser developed by Deutsche Bank’s Deutsche Asset Management (Deutsche AM), according to a report by finews.com.
Baloise will be the first insurer to used Deutsche AM’s robo-adviser, but other partners are set to follow, the report said. The insurer will offer the robo under the brand name Baloise Monviso. A website for the service is already up and running.
Baloise will offer its clients Deutsche AM wealth-management services through the internet, and customers will be able to sing up for customized investment packages through Monviso. The entire service, from initial deposit to investment strategy, will be handled digitally, according to finews.com.
The service is aimed at people who might not have as much to invest as high-net-worth clients, with a minimum required sum of 400 euros to participate.
Deutsche AM expects that three to five other firms will sign up for the service, according to finews.com.
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