getsafe and Munich Re to start first digital multiline insurance platform in Germany
getsafe 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 — and Munich Re’s business unit Digital Partners.
getsafe is bringing the concept of multiline insurance into the digital age and will be able to cover risks across the entire insurance spectrum, i.e. P&C, health and life insurance.
The young company’s innovation does not stop there: as the first provider of such a service anywhere in the world, getsafe is introducing the concept of a “digital master policy”. Through this master-policy framework, all insurance products (P&C, health and life) a person purchases via getsafe will be part of a single insurance contract. getsafe customers only have one member ID and there is only one monthly premium payment. In the getsafe app, customers can create tailor-made protection for themselves within minutes and quickly adapt their insurance to a new life situation at any point in time.
To master the great complexity resulting from this innovative approach to multiline insurance, getsafe has designed an entirely new, fully cloud-based technology platform. New P&C, health and life insurance products will be launched on this platform in the coming months. Among them will be a liability and a supplementary health insurance
as well as a new type of income protection product. The strong capital backing of Munich Re ensures high security even following major claims. “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”, says Andrew Rear, CEO of Digital Partners at Munich Re. Moreover, Munich Re’s global presence will also facilitate international expansion.
Christian Wiens, co-founder and CEO of getsafe explains: “We’ve worked intensively for over 15 months to create a unique, fully digital insurance platform with new types of insurance products. Going forward, this will enable us to offer customers in all of Europe a completely new insurance experience. Above all, we also plan to bring fundamental changes to the insurance business model. More details of this project will be announced in the coming weeks.”