We will soon launch a new, fully-digital multiline insurance platform in Germany. The venture is a partnership between Getsafe and Munich Re — one of the largest reinsurers in the world.
Getsafe is a pioneer on the European Insurtech landscape. Since the launch of the first truly mobile insurance wallet in 2015, we have been helping over 20,000 users to manage some 80,000 insurance contracts using their smartphone (versicherungsmanager.getsafe.de). In doing so, we gained invaluable insights into the pains and wishes of (our) insurance customers. At the same time, we also experienced the shortcomings of traditional insurance carriers, which as a result of their legacy technology are not able to serve customers in a modern, truly convenient way.
The multiline approach has helped to bring about some of the biggest and best-known insurance companies in the world, like Axa or Allianz. Our goal at Getsafe is to bring this concept of multiline insurance carriers into the digital age. We will be able to cover risks across the entire insurance spectrum, including the property & casualty (P&C), health, as well as life insurance segment.
To master the great complexity resulting from this innovative approach to multiline insurance, we have designed an entirely new, fully cloud-based technology platform that lets us quickly develop, underwrite, and manage our own insurance products in a way traditional insurance carrier’s legacy systems could never do. We will launch new P&C, health, as well as life insurance products in the coming months. Among them will be a liability, a supplementary health insurance, as well as a new type of income protection product.
If you want to “go multiline” as a new digital player, you not only need a partner with a strong capital cover to ensure that even exceptionally large claims can always be settled. Preferably, you’ll also have one with a global presence and experience that can help you build a scalable, international infrastructure. With Munich Re we have found exactly this partner.
We are proud to be the first startup cooperating with both the Munich Re headquarter in Munich as well as Munich Re’s London-based unit Digital Partners. As Andrew Rear, Chief Executive at Digital Partners said: “Munich Re is delighted to be supporting Getsafe’s innovative multiline proposition. Delivering digital life, health and p&c in a single package has been a good test of our capabilities”.
We are excited about the many updates we’ll be able to share with you over the coming weeks.