Insurance Weekly News: CW 19

Overview of the latest insurance news

#Insurance

  • Gonetto: Online comparison portal for commission-free insurance starts crowdfunding campaign (DE)

With Gonetto, the first German online comparison portal for commission-free insurance starts a crowdfunding campaign. www.capital.de/geld-versicherungen/gonetto-will-die-versicherungsbranche-aufmischen

  • Higher compensation in the event of a claim: Customers benefit from AXA cooperation with OptioPay (DE)

AXA will in future offer its customers alternative payment options such as a higher value voucher for household effects. www.it-finanzmagazin.de/axa-zahlt-hoehere-entschaedigungen-ueber-optiopay-70216/

  • AGCS partners with ParaZero on drone safety systems

AGCS has sealed a new partnership: Together with the Israeli company ParaZero, the industrial and specialist insurer of the Allianz Group will in future offer drone security products for companies. www.reinsurancene.ws/agcs-partners-with-parazero-on-drone-safety-systems/

  • German family insurance wants to serve one million customers by end of 2019 (DE)

The first German purely digital insurer wants to double its number of customers and aims to conclude insurance contracts via Alexa. http://versicherungswirtschaft-heute.de/schlaglicht/knoll-einem-jahr-haben-wir-die-kundenanzahl-verdoppelt/

  • New partnership: Element cooperates with Simplesurance (DE)

The digital insurer Element and Insurtech Simplesurance will work together to bring fully digitised policies to market. www.versicherungsbote.de/id/4866217/Element-kooperiert-Simplesurance/

  • 24 million euros for insurance manager Clark (DE)

Berlin-based Insurtech intends to invest the newly raised capital in technical developments and marketing. https://t3n.de/news/insurtech-clark-24-mio-euro-investment-1069877/

  • Amazon joins Insurlab Germany (DE)

Amazon ventures into the insurance industry: the US Internet giant joins the Insurlab Germany initiative. www.pfefferminzia.de/schritt-fuer-schritt-ins-versicherungsgeschaeft-amazon-schliesst-sich-insurlab-germany-an/

  • DSGVO: One in two medium-sized companies is still completely unplanned (DE)

Although the new basic EU data protection regulation (DSGVO) will enter into force at the end of May, most SMEs are not yet prepared. www.pfefferminzia.de/datenschutzgrundverordnung-jeder-zweite-mittelstaendler-noch-voellig-planlos/

  • CyberDirekt gets money (DE)

The digital insurance platform earns EUR 1.2 million from its first financing round. http://versicherungswirtschaft-heute.de/maerkte-vertrieb/geldregen-fur-digitale-versicherungsplattform-cyberdirekt/

#Digitization

  • Fully digital “tariff assistant”: Robo-Advisor takes customers by the hand (DE)

Insurtech Moneymeets launches Germany’s first Robo-Advisor for insurance companies. https://www.it-finanzmagazin.de/moneymeets-startet-deutschlands-ersten-robo-advisor-fuer-versicherungen-70107/

  • Is industrial insurance slowing down digitalisation? (DE)

In the opinion of the Gesamtverband der versicherungsnehmenden Wirtschaft e.V. (German Insurance Association) (GVNW), digital customer communication in German industrial insurance is in a “catastrophic state”. www.versicherungsjournal.de/versicherungen-und-finanzen/industrieversicherung-verschlaeft-digitalisierung-131938.php

  • Digitization only in triple steps – and who is to blame? (DE)

Even though insurers are working hard on the digital transformation, little innovation can be seen in practice. www.versicherungsmagazin.de/rubriken/branche/digitalisierung-nur-in-trippelschritten-und-wer-ist-schuld-2154487.html

  • Technologies of the future – insurance solutions must become smarter (DE)

The increasing networking of devices is also opening up many opportunities in the insurance industry. www.pfefferminzia.de/technologien-der-zukunft-versicherungsloesungen-muessen-smarter-werden/

  • 2 paths to a new take on digital

Industry leaders are starting to leave behind the “fast-follower” mentality, reallocating investments to customer-centricity and differentiation. http://insurancethoughtleadership.com/2-paths-to-a-new-take-on-digital/

#Underwriting

As underwriting is increasingly carried out via online portals, these platforms must be legally secure – in terms of technical processes and content. www.cirmagazine.com/cir/Clyde-a-co-in-underwriting-platform-design-warning.php

  • The death of Underwriting and Underwriters

Underwriting is not dying. It is just being automated into digital algorithms versus analog human beings. www.insurancejournal.com/news/national/2018/03/23/484289.htm