The fastest growing Czech insurance company is now offering its unique mileage-based car insurance to Slovak car owners. The Slovak pillow’s offer was launched after less than 4 years of successful operation in Czechia.
Pillow as a symbol of comfort
Jakub Strnad, founder of the insurance company and insurance visionary, explains the unusual name Pillow: “We differentiate ourselves from institutions that often make their clients feel insignificant because of their own size. In relationships between financial giants and their ordinary clients, it’s almost the norm to get a ‘hundred-page’ contract, take-it-or-leave-it style.”
Dissatisfaction with the typical state of the insurance industry led Jakub Strnad to create a very different type of insurance company. “Fair play is one of our most important values, so we have taken our brand to a personal level that is atypical of the insurance industry. We chose the ‘pillow’ as a symbol of pleasantness, comfort, but also protection that cushions the impact of unexpected situations. The success of this strategy is confirmed by our growth in recent years, with clients having taken out more than 190,000 policies with Pillow, making it the fastest growing insurance company by a wide margin. We have been counting on expanding abroad from the very beginning, hence the English name Pillow, and I am very happy that this dream is now coming true.”
Three-time insurance innovator and “Pay-Per-Mile” insurance
Pillow Insurance Company was the first company to receive the prestigious award of Hospodářské noviny for all its products and car insurance is no exception. The product in one contract, including both compulsory liability and accident insurance, was voted the most innovative insurance on the Czech market in 2021. Marcel Beno, process architect and mathematician at Pillow pojišt’ovna, comments on the reasons: “While most conventional insurance companies only offer clients packages from which they have to choose, Pillow’s offer is free. Clients choose only what they need and save money as a result.”
“In addition to the standard parameters about the vehicle and the operator, we also set the price of vehicle insurance according to the number of kilometers driven. Those who drive little also pay little for insurance. Car owners can save up to 35 % on their insurance payments.” There are 2.8 million registered passenger cars and motorbikes in Slovakia. “Our calculations show that Pillow insurance is more cost-effective for 1 million cars and motorbikes. For passenger cars, these are those that drive up to 12,000 kilometers a year at a time,” adds Marcel Beno.
Modern technology saves clients time and money
The reason for the popularity of Pillow on the Czech market is the bet on digital technology. Pillow insurance company sends all documents exclusively electronically, handles client requests by email or phone, and can even inspect claims remotely. Martin Podávka, Pillow’s co-founder responsible for client satisfaction, points out the benefits of a digital approach: “Pillow company doesn’t need to run expensive brick-and-mortar branches, which most clients don’t go to anyway. As a result, we can offer a better insurance price, and this has proven in our surveys to be a much more important feature for most customers.” New insurance for Slovak vehicles can be arranged in 5 minutes online at www.mypillow.sk and gradually also at selected insurance advisors.