Fresh Insurance Services GmbH - Insurtech Innovation Award 2024

Fresh Insurance Services GmbH - Insurtech Innovation Award 2024

• 1.
  FRESH Insurance Services All-in-OneInsurance as a Flatrate FRESH is a German MGA June 2024
• 2.
  FRESH is onits way to becoming a leading provider in P&C insurance A FRESH take on Insurance FRESH is Insurance as a Flatrate, aggregating all private risks into a single product. Easy and quick to sell, offering above industry standard margins and below industry standard churn. Targets a Total Addressable Market (TAM) of €47.5 billion annually in Germany alone. Sold B2B2C via brokers and B2C via messenger and web platforms. Successfully launched initial products, created a new brand, and mastered all legal and technical challenges.
• 3.
  340m P&C contracts Insurance istoo complicated Property and Casualty (P&C) insurance is highly fragmented, inefficient, and lacks transparency for all market participants. High customer acquisition and advisory costs significantly reduce margins for all insurers and agents. Each insurance company offers complicated products, tariffs, and prices, creating confusion. Customers face a challenging and cumbersome process when purchasing insurance. Why isn't there a digital insurance product that caters to all customer needs, is easy to understand, and efficient in distribution? 192,000 insurance intermediaries 202 property and casualty (p&c) insurance companies Insurance was never designed to be digital
• 4.
  FRESH covers (almost)everything The first true insurance flatrate that merges seven insurance products Liability Household Pets Bicycles Car Liability / Comprehensive Accident Electronics / Belongings All risks insured in one contract. Only 5 questions to get a contract. Up to five cars at the same price. No premium recalculation after accidents. Multiple bicycles covered. Multiple pets covered. All electronic devices and belongings covered. Starting at € 99.99 per month.
• 5.
  FRESH Outperforms ‚Classic‘Insurance Classic Insurance FRESH Insurance • One decision: fully insured in minutes. • One provider: personal and digital. • One closed customer lifetime circle: sales, payment, documents, claims. • Easy to explain as all-round protection. • Quick to sell with less documentation. • High turnover, therefore higher income. • Lots of desicions: „which product from whom“. • Lots of different sales channels: online or personal from an intermediary. • Lots of touch points from different providers. • Complex products with lots of options • difficult to explain and sell. • Long process, lots of documentation. For Brokers For Customers
• 6.
  Broker and Direktchannel power sales The CAC / turnover ratio of FRESH is superior, as we sell up to seven products at once brokers 41% direct 10% insurance agents… FRESH is not only focused on growing via the 10% in the direct market We also use the strong sales power of the 41% broker distribution channel Via WhatsApp • Disruptive distribution channel • Effective and efficient as it is 100% digital, at the same time personal and innovative • Also usable for brokers Source: GDV Via Brokers • Professional and established • large market with strong sales success • appreciated by customers because of personal advice
• 7.
  77.3 € 29.1€ 8.41 € 6.73 € 3.3 € 29.7 € 47.54€ Adressed by FRESH flatrate Insurance is a growing Billion Euro market Source: GDV The p&c insurance market in Germany has an average growth rate of over 3% in recent years. FRESH adresses 60% of the total P&C insurance market in Germany In Billion Euro Germany Potential for further growth in the future as we can develop new flatrate products. Entering the market in other countries is the next logical step.
• 8.
  What we haveachieved – it's time to grow FRESH INSURANCE is on its way to be a fast growing and profitable InsureTech in Germany Development calculation and construction of FRESH flatrate Established MGA with insurer Development of the brand FRESH Successful launch of flatrate products Cooperation Fondsfinanz broker pool, involving 25,000 brokers Built state-of- the-art Insurance Core System
• 9.
  Actuarial: Meyerthole SiemsKohlruss (SMP) | Attorneys: Segger Law Co-Founder & COO Robert Welsch mobilversichert, Langenscheidt Digital, Autoscout24 Co- Founder & CTO Mohamed Elassadi mobilversichert, Check24, kfzteile24 Co-Founder & CEO Manuel Stroeh mobilversichert (Exit Degussa Bankengruppe), return- to.me, Axis We are FRESH Insurance