Getsafe sails past 10,000 UK customers as insurtech sector heats up

German digital insurer Getsafe has officially reached the 10,000 UK customer mark as it hits 200,000 customers in its native Germany, making the insurtech the largest neo insurer in Europe.

As a result of its growing customer base, Getsafe is now looking to put down roots in other markets across Europe.

“Even before the pandemic, many people were used to doing everything on their smartphones. COVID-19 has intensified the demand for this. Getsafe fulfils the needs of digitally-minded target groups like hardly any other insurer in Europe,” Christian Wiens, CEO and founder of Getsafe, said.

“From day one, Getsafe was always a technology company that provided insurance – not the other way around. As a neo-insurer, we take our inspiration from companies like Airbnb, Spotify, or Netflix. We want to build a Europe-wide insurer and drive digitisation in the insurance sector,” Wiens added.

Three-quarters of Getsafe’s customers are using the insurtech to take out insurance for the first time, with most of its customers being Millennials. 

Roughly a quarter of Getsafe’s customers have more than one policy with the insurtech, meaning that there are more than 250,000 active policies on its platform.

Getsafe’s milestone comes just over six months after the insurtech closed a $30m Series B funding round.

The insurtech, which only launched in the UK back in February 2020, also teamed up with GoCompare to bolster its presence in the UK insurance market.