May 18, 2020– Toronto, Ontario – Newt Corporation(“Newt” or the “Company”) is pleased to announce the signing of an Agreement with Thona Seguros Insurance Company for integration onto Newt’s SaaS Platform and Payment System, in Mexico City, Mexico.
As per the terms of the agreement, Thona shall utilize Newt’s SaaS Platform to sell micro-insurance policiesand shall use Newt’s payment system as the method of payment at all points of Sale within Newt’s Mexico Ecosystem connected to its SaaS network.
Thona has recently implemented a new dedicated micro-insurance policy for COVID-19, and the collaboration with Newt will allow for payment processing at large retail stores and on Newt’s network, which is currently serving around 4,000,000 customers throughout Mexico.
Thona Seguros was founded by a group of entrepreneurs in the insurance sector, who identified the need for personal accident and life insurance for individuals and their families, particularly within the population groups that had not been previously catered to and had no access to insurance. The company has a solid and transparent Corporate Governance system that provides trust and guarantee to the insured and the investors.
Thona Seguros’ team, both shareholders and management, has extensive insurance experience and a long track record of proven success, allowing efficient operation and broad market access in Mexico.
Sergio Maya Aleman, CEO of Newt, stated: “We are pleased to integrate Thona, our first insurance product into our SaaS model and network in Mexico. We are eager to see adoption of this digital innovativemicro-insurance policy for COVID-19 at points of sale, which is the first of its kind nationwide to be provided at cash registers of major Mexico retailers, such as one of our clients, “Chedraui”. Newt has once again proven that our SaaS business model is easy to integrate with most digitalproducts, immediately addingvalue our clients, thanks to our network of trusted customers and partners.”
Steven Hoffmann, Founder of Newt, stated: “It is exciting to have clients identify the value of our connected network and SaaS Software. This marks the first contract with a major insurance group, another milestone by Newt’s Management. As Newt’s network expands, we are seeing more parties identify the platform’s potential for an optimized channel for distributing digital prepaid products, allowing users to purchase products for their families via mobile app, web, or at a Point of Sale.”