DFV Deutsche Familienversicherung AG: Market entry in Austria, new combination product and new sales cooperations
June 30, 2021 at 05:16 am EDT
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DGAP-News: DFV Deutsche Familienversicherung AG
/ Key word(s): Market launch/Expansion
DFV Deutsche Familienversicherung AG: Market entry in Austria, new combination product and new sales cooperations
30.06.2021 / 11:15
The issuer is solely responsible for the content of this announcement.
Market entry in Austria with pet health insurance for dogs and cats
Digital sales platform as the basis for successful internationalisation
Transfer of partnership with ProSiebenSat.1 Digital to Austria
New combination product "DFV-KombiSchutz" for the German market
Two new sales cooperations as additional growth drivers
Confirmation of the 2021 goals
Frankfurt am Main, 30 June 2021 - DFV Deutsche Familienversicherung AG ("DFV", "Deutsche Familienversicherung"), a leading InsurTech and digital insurance company in Europe, can report that despite a difficult market environment caused by the COVID 19 pandemic, it is defying these difficulties due to its digital and online-based business model.
Today, DFV starts selling pet health insurance for dogs and cats in Austria and simultaneously launches a new combination product, "DFV-KombiSchutz", in Germany.
Scalable digital sales also in Austria
The market for pet health is booming worldwide; according to a forecast, the global market volume will rise to around USD 40 billion in 2021. By entering another European market, the Frankfurt-based InsurTech is internationalising its field of activity and consistently continuing its growth course in the area of pet health insurance.
Under the domain www.dfv.at, the Frankfurt-based InsurTech is launching an attractive retail product in Austria today based on its digital sales platform. According to Statista, 0.64 million dogs and 1.8 million cats lived in Austrian households in 2019. In order to make intensive use of the existing market potential in Austria at an early stage, the existing partnership with ProSiebenSat.1 Digital in Germany will also be transferred to Austria from 1 September 2021 at the latest. The new pet health insurance of Deutsche Familienversicherung will then also be marketed on the high-reach TV and online channels of the broadcasting group in Austria. The marketing will take place, following the German model, under the brand "PETPROTECT" and via the website www.petprotect.at.
Despite the market potential, the company's market entry in Austria is based on the premise of keeping costs as low as possible, taking little risk on the basis of the scalable digital sales model and gaining experience for further steps.
"For us, entering the Austrian market is a testing field for additional international expansion plans. If the market entry in Austria works, we want to expand into other neighbouring European countries. The fact that we can rely on our partnership with ProSiebenSat.1 Digital in Austria shows that our online-based and scalable sales platform is a competitive advantage for entries into other European markets. This is the strength of our digital business model," comments Dr Stefan Knoll, Chairman of the Board and founder of Deutsche Familienversicherung.
New combination product "DFV-KombiSchutz" for the German market
With the market launch of the new combination product, the "DFV-KombiSchutz", also taking place today, DFV is keeping another promise. The new "DFV-KombiSchutz" consists of accident, household/glass, private liability and traffic legal protection insurance. With the bundling of products combined with a flat rate price, the digital insurer is responding to customer requests for further simplification of the product range. In addition, the customer can also choose between four product variants for "DFV-KombiSchutz" and continues the "all-in" logic of the 16-product matrix. The ability to bundle products in combination with a flat premium rate also forms the basis for the new global product. For its introduction, the savings component is now being developed in a further step together with Ethenea.
Hamburger Sparkasse and Lidl as new cooperation partners
Hamburger Sparkasse ("Haspa") has been DFV's new cooperation partner since 01 June 2021. The cooperation relates to the sale of pet health insurance for dogs and cats. The largest German Sparkasse offers the insurance products of the Frankfurt-based InsurTech to its private customers via www.haspa.de. The offer is available there under the heading " Versicherungen - Tiere" and is also advertised directly to customers in the bank's more than 100 branches.
Furthermore, Deutsche Familienversicherung can announce the start of a cooperation with Lidl. Already in the second half of 2020, the "DFV-ZahnSchutz" and the "DFV-TierkrankenSchutz" were advertised in the B2C Lidl Plus app as part of a pilot project. In 2021, this cooperation can now be expanded. In six time windows of four weeks each, the supplementary dental, pet health and other DFV products will be marketed alternately in the Lidl Plus app under "Partnervorteile". In parallel to the Lidl Plus app offer, "DFV-ZahnSchutz" is currently also positioned on www.lidl.de.
"The fact that we have succeeded in winning Haspa, Germany's largest Sparkasse, and Lidl, one of Europe's largest retail groups, as cooperation partners demonstrates DFV's undiminished appeal to cooperation partners. Our digital capability combined with high product quality and innovative insurance solutions also in the cooperation business enables further new partnerships," says Stephan Schinnenburg, Chief Sales Officer of Deutsche Familienversicherung.
2021 - Confirmation of the targets
For 2021, Deutsche Familienversicherung still plans to invest EUR 30 million in sales activities and thus generate new business of EUR 30 million or increase gross written premiums by around 25 percent again. The company will present further details and insights at a Capital Markets Day on 12 August 2021.
About DFV Deutsche Familienversicherung AG
DFV Deutsche Familienversicherung AG (ISIN DE000A0KPM74) is a fast-growing InsurTech company. As a digital insurance company, DFV covers the entire value chain with its own products. The company's goal is to offer insurance products that people really need and understand immediately ("Simple. Sensible."). DFV offers its customers multiple award-winning supplementary health insurance (dental, health, supplementary long-term care insurance) as well as accident and property insurance. Based on the state-of-the-art and scalable IT system developed in-house, the company is setting new standards in the insurance industry with digital product designs throughout as well as the option of taking out policies via digital voice assistants.
30.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Language:
English
Company:
DFV Deutsche Familienversicherung AG
Reuterweg 47
60323 Frankfurt/Main
Germany
Phone:
069 74 30 46 396
Fax:
069 74 30 46 46
E-mail:
presse@deutsche-familienversicherung.de
Internet:
www.deutsche-familienversicherung.de
ISIN:
DE000A2NBVD5
WKN:
A2NBVD
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
DFV Deutsche Familienversicherung AG is a Germany-based company engaged in digital Insurtech and insurance sector. The Company focuses primarily on selling insurance policies digitally and online. It offers the broad range of digital customer solutions, such DFV customer portal or DFV app that enable its customers to process business transactions in real time, covering advice, financial statements, document management and claims handling. Its product portfolio includes supplemental health insurance policies, such as supplementary outpatient, inpatient, dental and long-term care insurance, and property insurance, such as household contents, liability, legal defence and accident insurance policies. The Company has wholly-owned subsidiaries in Germany.
DFV DEUTSCHE FAMILIENVERSICHERUNG AG 
