LM PAY S.A. Expands Beyond Medical Sector – Strategic Partnership with CUK Ubezpieczenia Launches CUK Flex Pay

Warsaw, June 25, 2024 – LM PAY S.A. (ISIN: PLLMPAY00016), the market front-runner in bank-independent financing of medical and aesthetic services for private customers based in Warsaw, Poland, has launched a new InsurTech solution in collaboration with CUK Ubezpieczenia Sp. z o.o., one of Poland’s leading multi-agency insurance brokers.

The newly introduced product – CUK Flex Pay – allows CUK’s clients to finance their insurance policies quickly and conveniently. Clients can now choose to defer their premium payment by 30 days or pay in 4 quarterly or 12 monthly instalments, depending on their needs. The minimum loan amount is PLN 200, and the maximum is PLN 5,000.

CUK Ubezpieczenia offers a wide range of insurance products including motor, property, life, business, travel, and agricultural insurance. With over 500 locations and 4,000 cooperating advisors, CUK is among the most recognized insurance distribution networks in the country.

LM PAY S.A. provides the end-to-end technology and credit infrastructure, verifying client identity and assessing creditworthiness in real time based on national credit databases. The financing decision is made instantly at the point of sale — with no need to involve external financial institutions or use a credit card.

The solution eliminates the most significant barrier for many customers: the one-time annual upfront insurance payment. With CUK Flex Pay, customers are able to access more comprehensive policies (e.g. TPL + Comprehensive + Personal Accident Insurance) that previously may have been out of reach due to budget constraints.

This initiative also strengthens LM PAY’s position as a leading FinTech innovator. Until now, the company has focused on financing in the health & beauty sector under the Care Now, Pay Later model. Now, by entering the insurance market, LM PAY is expanding its operations into new verticals, demonstrating the adaptability of its financing platform and its focus on improving financial inclusion.

“The insurance market clearly needed a solution like CUK Flex Pay. Paying the full premium at once often meant giving up other household expenses or plans,” – said Olga Gójska, Head of Sales and Customer Service at LM PAY S.A. “CUK Flex Pay also marks a strategic step for LM PAY, as it opens up a new business sector and shows our commitment to further developing the Care Now, Pay Later model,” she added.

CUK Flex Pay is available to individuals aged 18–75 with Polish citizenship and legal capacity under the Civil Code.

The Management Board of LM PAY S.A. strongly believes in the dynamic growth of InsurTech solutions and sees significant potential in extending its services beyond the medical sector. The successful launch of CUK Flex Pay demonstrates LM PAY’s ability to adapt and deliver value-added financial services across industries.

For further information, please contact:

Investor Relations & Financial Media in Poland:

LM PAY S.A.
Grzegorz Pieszak
Phone +48 881 780 994
grzegorz.pieszak@lmpay.pl

Investor Relations & Financial Media in Germany:

Meister Consulting GmbH
Tobias Meister
phone +49 (0) 2983 908121
mobile +49 (0) 170 2939080
meister@meisterconsult.com