Deutsche Familienversicherung: The German insurtech

Frankfurt am Main, 27.04.2018 This week, Deutsche Familienversicherungen became the first fully digitalized insurer and the only functioning German Insurtech to be presented to the public.


Eleven years after it was established, Deutsche Familienversicherung has matured from an analogue insurance start-up, to a profitable, totally digital, insurance industry market leader, with a range of award-winning insurance products. By developing innovative insurance products that can be flexibly adapted to individual customer needs, Deutsche Familienversicherungen has established itself in a highly competitive market. In the past year 2017, the Insurtech gained over 50,400 new customers. Dr. Stefan M. Knoll, the founder, owner and chairman of the board: "Today I am proud to look at an innovative company with more than 500,000 customers, 100 employees and 72 Million € sales. Deutsche Familienversicherung is an insurtech and insurance compan, that demonstrates just how effective digitalisation can be. By the end of 2019, we will double our customer base to 1 million customers."

Partnership with Germany’s largest broadcasting group - ProSiebenSat.1

Since mid-April, Deutsche Familienversicherung has been working together with Germany's largest broadcasting group, ProSiebenSat.1 Group, to offer insurance cover. Currently, the broadcasting group is marketing the Deutsche Familienversicherung’s supplementary dental insurance package (DFV-ZahnSchutz), through their MAXCARE brand. Interestingly enough, the DFV-ZahnSchutz package recently became a Stiftung Warentest, test winner for a third consecutive time, with a top grade score of "0.5."
As the cooperation with ProSiebenSat.1 develops, it is planned to expand the range of Deutsche Familienversicherung supplementary health and property insurance policies.Referring to the partnership, Deutsche Familienversicherung CEO, Dr. Stefan M. Knoll said; "We are extremely pleased to have gained Germany’s largest broadcasting group, ProSiebenSat.1 Media SE as a business partner. Together we are planning to achieve a lot more over the next few years."

Digital Voice Assistants - GoogleHome, Amazon Echo & DFV-ChatBot

This innovative insurtech also offers customer service and insurance consultancy using digital language assistants.As Germany’s first fully digital insurance company, Deutsche Familienversicherung not only offers customer services through Amazon’s Alexa platform, but is also the first insurer to have its own actions on Google Home. "I'm convinced that future insurance cover will largely be provided by digital language assistants." said CEO, Dr. Stefan M. Knoll. "As our customers lives become increasingly more digital they fully expect these service options. And the needs of the customer are our top priority."
For digital insurance consultancy, Alexa skills/Google actions were programmed to perform consultancy dialogue with access to the actuarial calculation kernel, via an API interface. The skill evaluates questions and responds with the respective product information. Including monthly premium costs, in real time and all voice-controlled. Additionally, customers can also use the DFV-ChatBot to access a range of product information and to request and make changes to policy details.

The most advanced payment systems - PayPal, Amazon Pay & Google Play

When checking for insurance online customers demand that it be as fast and as easy as possible. So Frankfurt-based Insurtech, Deutsche Familienversicherung has massively simplified its insurance products, by creating four product families and developing an uncomplicated 16x matrix of supplementary health insurance policies. This simple, revolutionary approach means customers just enter their age and receive 16 prices for 16 insurance policies they could choose from. But that’s not all, elsewhere customers still have to endure complex, convoluted contractual forms after selecting the insurance they require. Deutsche Familienversicherung has radically simplified this area as well. Deutsche Familienversicherung CEO, Dr. Stefan M. Knoll, "After logging in with either an Amazon or Paypal account, the time it takes to complete our agreements is very considerably reduced. And naturally, for a fully digital insurance company like ourselves, along with more conventional payment methods, we also offer Amazon Pay or PayPal payments. In May 2018, we will launch GooglePay as well."

Digital customer services - the DFV app and customer portal

Fully digitalising a company only makes sense if it produces tangible benefits for its customers. And that’s why Deutsche Familienversicherung has built its DFV customer portal. After logging in, the customer gets a complete overview of all their insurance details. If they want to change their policy, it can be called up and once they confirm their changes, they’re made in real time. The entire DFV customer portal and more is also mobile within the DFV app. The app is a masterpiece of customer independence. Again, as with the portal, the customer can view and change all their policies in real time. A particularly innovative feature is the real time adjustment of the DFV-UnfallSchutz (DFV-AccidentProtection) insurance. If for example, a customer needs to increase their accident protection insurance due to a suddenly increased risk, they can simply and easily make that adjustment in a matter of seconds, and reduce it again just as easily.

Artificial Intelligence - what’s in it for the customer?

Just like digitalization, artificial intelligence has to offer something meaningful to the customer. In the insurance industry, this is primarily means simplicity and how fast claims are paid. For example, when a customer submits an invoice to Deutsche Familienversicherung, artificial intelligence determines which type of document it is and assigns it to a specific insurance cover. That is then checked to define if the claim or the medical intervention is covered by the customer’s policy. Because of artificial intelligence and digitalisation, it’s a fast, uncomplicated and fully automatic process. For medical bills or reports, artificial intelligence can also read out so-called ICD codes. "Once the code has been read and reconciled with the terms of insurance, the claim is settled within 48 hours and the money transferred to the customer’s bank account." explains CEO, Dr. Ing. Stefan M. Knoll,. "All this works completely automatically and without delays, thanks to our unique and comprehensive digitalization."

About DFV - Deutsche Familienversicherung AG

Based in Frankfurt am Main, Deutsche Familienversicherung is the first fully digitalized insurer and the only functioning Insurtech in the German insurance market. With a 16x matrix of simple to understand, very reasonably priced and comprehensive insurance products DFV has set new standards within the industry. Just enter your age and you’re done. Simple. Sensible. For more information visit: www.deutsche-familienversicherung.de