I don't know about insurance but it is going to be free.
Yeah, traditional EU banks are way behind on digitalisation and instant payments, which is why new digital banks and payment platforms like PayPal and Lydia are doing so well.
So WERO will be a competitor to services such as PayPal, as well as to some EU digital banks that already offer instant payments. In the future, they plan to implement services that could potentially replace the need to use Apple Play and Google Wallet.
In the long term they could try to be a global payment solution to compete with Visa and Mastercard not only in the EU but also internationally, who knows!