Getsafe - The Insurance of Tomorrow

  • Christian Wiens, CEO , Getsafe

  • 30.04.2020 07:34 am
An interview with Christian Wiens, CEO of Getsafe.
Financial IT: Can you tell us more about Getsafe?
Christian Wiens (CW): Getsafe is a mobile-first insurance company and already clear market leader for millennials in Germany. Our mission: to empower people to live life to the fullest by covering them and their universe, no matter who and where they are. Our 90-person team is reinventing insurance by using technology and artificial intelligence. What we offer is an easy-to-use, flexible and fully digital insurance experience for the smartphone generation. 
Financial IT: The fintech scene has yet to digest such a drastic impact as the covid-19 crisis – as do most companies worldwide. What are the main challenges facing companies now? 
CW: The corona crisis is driving the digital transformation in society and requires that business models also work digitally. Besides the change to working remotely, this is the biggest challenge for many companies: to operate 100% digital. And of course, the access to venture capital is also an issue.
Financial IT: Do they pass the "Digital Stress" test?  
CW: Yes and no. A conversion to 100% digital is not affordable for all industries. The tourism industry or airlines for example are put in checkmate here. For those who rely on physical sales structures or lack a solid technical infrastructure, it’s hard to handle the crisis situation. Insurtechs and fintechs are built on cutting edge of technology, are experienced in digital distribution and have the right mindset to deal constructively with the new challenges. But as said above, the behaviour of investors and politics is also important. 
Financial IT: What's next for Getsafe?
CW: With over 10,000 new customers, March was the strongest month in our company history and we are experiencing a significant boost - despite the crisis. Of course we want to keep that level up and become the next unicorn, an insurtech with a valuation of over a billion dollars. N26 has shown it off as a neo-bank, we are replicating it as neo-insurance. In January we expanded into the UK, with other European countries to follow. We have just added accident insurance to our product portfolio and plan to launch digital life insurance in mid-2020. In order to be an even better companion for our customers, we want to expand our app with additional services and new products.

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