Germany-based insurtech Getsafe has launched in the UK with its digital contents insurance.
This is its first move after a market entry in Germany and the company states it wants to serve the whole of Europe.
Getsafe is trying to “rethink” insurance in the UK and become a leading digital insurer. It utilises machine learning and with just a few clicks, customers can take out insurance, view and change any of their personal or insurance details at any time.
Getsafe also has a chatbot, Carla, that is available 24 hours a day to answer questions and report claims.
CEO and founder Christian Wiens said: “Over the last two years, we have shown that our product meets a core need for the young, tech-savvy generation. With our insurance delivered through your smartphone, we are developing a product that fits perfectly with the living and communication habits of this generation.”
In addition, due to geopolitical causes, such as Brexit, Getsafe has established an independent British subsidiary in London. Furthermore, for the launch of its flagship product, it has partnered with Hiscox.
Wiens added: “Getsafe acts as a platform with multiple carriers, including Munich Re and AXA, providing the capacity in the background. With Hiscox, we have a renowned carrier for our UK contents product at our side and are pleased to be working with them.”
Instead of a fixed contract, Getsafe offers a modular insurance that customers can choose individually according to their needs and cancel on a monthly basis.
As a result, there is a greater amount of flexibility and is relevant for those with have dynamic, changing lifestyles.
Firstly, customers in the UK can add personal possessions cover (which insures possessions out of home) and accidental damage to their contents policy.
“At the moment, we are particularly proud that our customers use our app intensively”, explained Christian Wiens. “More than a third of them return to our app every month to get information and to organise and protect what is most important to them in life. Such a high level of engagement has never been seen before in the insurance industry. We can now offer that to UK customers as well.”
Getsafe intends to continue its expansion and be active in all major European markets. Furthermore, its first fully digital life insurance policy for German customers is set to be released this year.