German insuretech Getsafe launches in the UK

By Daniel Lanyon on Monday 17 February 2020

Digital Banking

The firm, which is backed by N26 investor Earlybird, has already launched in 2018 in Germany, with the news marking the start of the company's expansion across the whole of Europe.

German insuretech Getsafe launches in the UK
Image source: Getsafe

Getsafe, a Heidelberg-based insuretech startup, has launched in the UK with a partnership with Hiscox and a digital contents insurance product.

The firm, which is backed by N26 investor Early Bird, has already launched in 2018 in Germany, with the news marking the start company's expansion across the whole of Europe.

Getsafe says it is the fastest growing insurance provider for millennials in Germany. Its CEO and founder Christian Wiens says in its two years since launch it has shown that it meets a core need for a young, tech-savvy generation and that the UK’s Brexit status is, despite an unpredictable environment, did not put off the firm with the country a key priority.

“With our insurance delivered through your smartphone, we are developing a product that fits perfectly with the living and communication habits of this generation.”

Wiens says the political situation has caused some uncertainty and therefore Getsafe has established an independent British subsidiary based in London, which allows it to operate ‘completely independently of political decisions’. 

“Getsafe acts as a platform with multiple carriers, including Munich Re and AXA, providing the capacity in the background. WithvHiscox, we have a renowned carrier for our UK contents product at our side and are pleased to be working with them."

“Those aged between 20 and 35 are particularly open to the idea of using smartphones to handle financial services in the UK. However, there is no comparable insurance solution for this target group as yet. "With our smartphone app, Getsafe will aim to close this gap in the market," says Christian Wiens.

In the coming months and years, Getsafe intends to continue its expansion and be active in all major European markets.

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