Company Research Report: ELEMENT Insurance AG
Company Overview
- Name: ELEMENT Insurance AG
- Mission of the Company: ELEMENT's mission is to empower Managing General Agents (MGAs) across Europe as a strategic ally by providing insurance capacity and managing risk through cooperation with reinsurers.
- Foundation: Detailed information about the foundation date and founders is not available.
- Key People:
- Dr. Astrid Stange – Chief Executive Officer
- Dr. Michael Bongartz – Chief Commercial Officer
- Dr. Tilo Finck – Chief Financial Officer
- Philipp Hartz – Chief Sales Officer
- Igor Lutsenko – Chief Technology Officer
- Jörg Schmidt – SVP People & Organization
- Johannes Jacobsen – VP Governance - General Counsel
- Norma Catanho Benicke – VP Partner Onboarding
- Arno Bussmann, Laura Kauther, Fabian Fischer – Commercial Directors
- Stefan Heisig – Head of Intermediary Sales
- Headquarters: Berlin, Germany
- Number of Employees: ELEMENT boasts a diverse team of more than 110 insurance and tech specialists from over 30 nationalities.
- Revenue: No information is available.
- Known For: ELEMENT is recognized for its data-driven approach to insurance, empowering MGAs with pan-European insurance solutions, and its rapid delivery of customizable insurance products.
Products
- Products Offered:
ELEMENT offers a comprehensive platform for insurance solutions across various segments including pet insurance, automotive warranties, and digital insurance for used cars.
- High-Level Description of the Product:
ELEMENT provides a fully digital insurance platform tailored for MGAs and partners seeking rapid deployment and scalable insurance solutions across the EU. The company emphasizes seamless integration, fast time-to-market, and data-driven insights.
- Key Features of Each Product:
- Pan-European Capacity: ELEMENT allows MGAs access to insurance capacity EU-wide under a single license via Freedom of Service (FoS).
- Data-Driven Capabilities: Advanced data analytics and lean processes for managing risks and enhancing partner service offerings.
- Customizable and Flexible Solutions: Ability to rapidly implement new product ideas tailored to partner needs.
Recent Developments
- Recent Developments in the Company:
- ELEMENT has successfully expanded its cooperation with Warranty Expert, entering the Irish market as part of a larger European initiative.
- New partnerships were formed with Allane Mobility Group, launching an "Allane Return Protection" service for leasing customers.
- New Products Launched:
- ELEMENT continues to explore new product opportunities by collaborating on personalized accident insurance solutions and extended warranty services across various sectors.
- New Features Added to Existing Products:
- ELEMENT has introduced new individualized tariffs to cater to varying life stages with its accident insurance offering.
- New Partnerships:
- Partnered with Warranty Expert expanding their market presence in Finland and Ireland.
- Strategic collaborations with MENEKS for long-term automotive warranty solutions and SCHUTZGARANT for device protection services.
No additional commentary is provided as per the instructions. This report strictly compiles and documents the information provided in the dataset.
