Flat rate insurance: FRESH Insurance starts in the German insurance market

Industry insiders and Munich company founders Manuel Stroeh (45) and Robert Welsch (42) were able to recruit an experienced team of IT and insurance specialists to enter the market with their flat-rate insurance, which is new to Germany. “It combines digital sales expertise with a deep understanding of product innovation, digital technologies and new service requirements,” according to an official press release.

“As a digital underwriting agent, our goal is to put the processes in the insurance industry in sales, damage reports and customer service on a completely new basis, notably through a new product design. Our flat rate insurance focuses on simplicity, transparency”, customer acceptance and comprehensive protection. That’s exactly why we’ve brought in long-time industry professionals who want to share and promote this vision with us,” says FRESH CEO Manuel Stroeh.

Experienced management team

The founders of FRESH Insurance have “themselves extensive experience in insurance as well as extensive knowledge of the enormous innovative potential of the insurance industry”, as it is also said. With the appropriate support from investors, Manuel Stroeh launched the insurance broker platform “mobilversicherungt” in 2014 and established it on the market. Robert Welsch was most recently product manager at mobilversichert and was previously head of the digital division at Langenscheidt.

For their most recent launch, FRESH, the duo assembled a management team with extensive industry experience. Stephan Fuss (39) from Allianz Kunde und Markt GmbH also joined Stroeh as CEO and Welsch as COO as Head of Operations. There he was responsible for the further development of the telephone direct marketing strategy in the telephone sales department. As Chief Technology Officer (CTO), Mohamed Elassadi (50), who previously worked as CTO for the Check 24 comparison platform, complements the FRESH team. In customer service, FRESH is supported by Andreas Mai (50), who has established and managed several service centers. Finally, Axel Cravello (51) completes the team with his experience in business structures for start-ups in the automotive sector. “FRESH deliberately draws on management expertise to drive the success of our new flat rate concept,” says CEO Manuel Stroeh.

Fresh Insurance Services GmbH was founded in 2021 to start the new company. The investment fund Ökovation Ventures GmbH & Co. KG, which focuses on seed capital, is the leading investor with more than €5 million in seed capital. Business angel Alexander Ruthemeier (including Wefox, Rocket Internet) could also win as a pre-seed investor and board member.

Flat rate insurance for everyday damages as a first in the market

On July 6, 2022, the company entered the German insurance market with a completely new offer: a flat-rate insurance for individuals sold exclusively via WhatsApp. The flat rate covers six areas of damage in everyday life at a fixed monthly price and can be canceled monthly.

With the “FRESH Single Flat” the risks related to household items, civil liability, accidents, glass and electronics, pets, bicycles and objects are insured in a single contract. Insurance can also be booked at a later date with a comprehensive motor vehicle insurance policy.

“We have seen the enormous need for such a simple product. In addition, it is easy to contract through WhatsApp and its extensive protective effect can be immediately understood by consumers, a very flexible and simple insurance with a carefree effect in every way. That is our goal in establishing this new category of products on the market, which is why we will soon offer new flat-rate variants with comprehensive or family vehicle insurance,” announced co-founder Robert Welsch.

The legal “midwives”

FRESH was legally established by Dr. Stefan Segger and Josef Domesle. The lawyers have adapted the flat-rate insurance to the WhatsApp sales channel. Segger Rechtsanwaltsgesellschaft mbH completely redefined short and clear terms and conditions, clear coverage descriptions and exclusions. The communication between the client and FRESH is also documented in a legally secure manner via WhatsApp. Florian Bohl and Thomas Lorentz of Meyerthole Siems Kohlruss – Gesellschaft für actuarialberatung mbH are responsible for the actuarial support of the product.

Cooperation with ELEMENT Insurance AG

FRESH Insurance Services GmbH is currently working with the insurance company ELEMENT Insurance AG on its flat-rate insurance “to potentially make everyday life easier for 80 percent of the German population with the first fully digital flat-rate insurance”: Articles for the home, civil liability, accidents, glass and electronics, pets and motorcycles and belongings and optional car insurance in the same contract. The purchase is made via WhatsApp, the payment is made with PayPal, the cancellation is possible on a monthly basis. (week)

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