Verivox, a joint venture between General Atlantic and Nucom’s price comparison site, has acquired the broker unit of Getsafe, the Germany-based digital insurance wallet.
The new technology will help Verivox’s 8mn customers to optimize their insurance portfolio by finding better deals for car or renters insurance within seconds.
Christian Wiens, CEO and Founder of Getsafe, commented on the acquisition: “We felt it became very hard and limited to further improve the customer experience by just re-selling traditional policies from established insurance carriers as a broker. To dramatically improve the insurance experience as a whole, from buying a policy to filing a claim, we need to build the insurance product ourself”.
Verivox, the co-owned price comparison site of equity firm General Atlantic, acquired the insurance broking unit of Getsafe
Getsafe, along with Munich Re will focus on developing its own insurance proposition. Having already sold 30,000 of its policies via its mobile app in 2018, Getsafe plans to use part of the profits from the deal to develop further products and expand to new international markets. Customers can buy, change or cancel an insurance policy paper-free and in real time in the Getsafe app.