Brief: German Friendsurance Aims to Become Europe’s Biggest Insurtech Platform

friendsuranceFounded in 2010, friendsurance.com currently counts over 75,000 new customers on its platform. The peer-to-peer insurance model  conceived by Friendsurance had led the creation of a new insurance market segment with over 15 new entrants in seven countries.

Sebastian Herfurth“In 2015, we saw an amazing growth with more than 200 new customers per day,” commented Sebastian Herfurth, Managing Director and Co-Founder of Friendsurance. “We now have as many customers as a middle-sized German insurance company.  In comparison to other Insurtechs in Europe, we are far ahead in development.”

Once dismissed as “venturesome concept,” Friendsurance has gained broad acceptance with over 70 domestic insurance partners. For more and more insurance partners see the Friendsurance advantages as increased customer satisfaction and reduced claims fraud. To date,  more than 80 Friendsurance employees work in the platform’s new headquarters in Berlin which emphasize transparency and flexibility.

“In the heart of the new office, we based our customer service and insurance experts,” added Herfurth, a Startupbootcamp Insurance Mentor. “No matter how innovative our model is, we will be only successful if we provide a professional and competent service for our customers. Our vision is to make insurance more customer-friendly.”

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