The German InsurTech market continues to develop very dynamically. One can rightfully speak of a start-up boom. That is one result of “InsurTech Radar 2017 – The Future of InsurTech in Germany” But how sustainable is this boom in Germany? Dr. Nikolai Dördrechter (Policen Direkt Group) and Dr. Dietmar Kottmann (Oliver Wyman) evaluated the developments and compared the results to those obtained in 2016, when the first issue of the InsurTech Radar Germany was released. To give access to larger community we decided to
publish a German and an English version of this report.

Many new players entered the scene in the last 18 months. Our research shows that there are hardly any gaps left on the radar.

So what happened in Germany? The established insurance industry has certainly not been asleep. Politicians are also pointing the way with their hub activities in Cologne and Munich or the success in hosting the leading European DIA (Digital Insurance Agenda) conference in Munich. On the InsurTech side, the start-up boom continues apace: more than 100 InsurTechs are active in Germany. The scene is already showing some significant changes in course, as well as new trends and open flanks. Our research clearly shows that Germany
is most certainly home to very innovative InsurTechs. However, the market shakeout will continue in 2018, and some start-ups that are active today will disappear.

One of the reasons for this is a clear lack of capital, especially when it comes to large follow-up financing rounds. A survey conducted among InsurTech founders gives some very illuminating insights into this subject. The results of our survey are displayed in a separate chapter.

There is currently a lot of movement – but still not enough. A lot remains to be done if Germany wants to join the upper ranks in terms of digital insurance and avoid falling behind international InsurTech hot spots such as the US, the UK and – most recently – China. Navigate by the InsurTech Radar!

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