Hepster – Entry into the French market with insurance for bicycles and electric bicycles

With the entry into the French market, the first step towards the internationalization of hepster is taken after the million-dollar financing in 2021

The InsurTech heps expands to France and thus underlines its strong growth. The company, founded in Rostock in 2016, increases its internationalization: Nach Austria in 2020 this is the second expansion abroad. Following the US$10 million funding round from Element Ventures and Seventure Partners in 2021, the next major market entry follows. hepster plans to achieve a 30 percent market share in the bicycle/electric bike segment in France in the next few years and set the new standard for digital insurance solutions there as well. The company launches its bicycle/electric bicycle insurance, adapted to the French market and the needs of its customers, and little by little it will add other offers.

The start of the expansion is accompanied by the launch of the French online store hepster. End customers can book the desired insurance with just a few clicks. The online store is primarily intended to increase awareness and ensure customer trust. The focus in the neighboring country is also on B2B cooperation: Business partners offer insurance solutions directly at the digital touch points and are thus integrated into everyday life and the context of the consumer.

Christian Range, Hanna Bachmann and Alexander Hornung (from left to right)

Christian Range, CEO and co-founder of hepster, says:

Entering the French market is another big step towards European expansion. We are also aiming for more than 100 percent growth this year and would like to gain more than 1,000 new partners and 250,000 new customers in the next three years. France should be a growth engine to eventually become one of the leading providers of digital insurance and so-called “integrated insurance” in Europe.christian range

Hanna Bachmann, COO and also founder, explains:

We analyzed all markets intensively and settled on France as the third market after Germany and Austria. After all, our neighboring country is the second largest economy in the EU after Germany. An additional factor for entering the market is our extensive portfolio of existing and new insurance products, with which we can convince in France. There are exciting developments on the French market, especially for the mobility, consumer electronics and travel sectors, which we would like to enrich with our solutions and products.Hanna Bachman

Alexander Hornung, CPO and third founder, adds:

We analyzed all markets intensively and settled on France as the third market after Germany and Austria. After all, our neighboring country is the second largest economy in the EU after Germany. An additional factor for entering the market is our extensive portfolio of existing and new insurance products, with which we can convince in France. There are exciting developments on the French market, especially for the mobility, consumer electronics and travel sectors, which we would like to enrich with our solutions and products.Alexander Horning

Hepster offers bike, electronics, animal, sports and travel insurance and started in 2016 with the goal of revolutionizing the insurance industry with its outdated technologies and sales approaches. The API-driven platform enables simple, fully digital insurance solutions that adapt directly to customers’ everyday situations and changing needs. The business model specializes in “embedded insurance”, that is, the incorporation and integration of insurance into existing processes. The goal is to integrate insurance into the customer experience with selected partners and make it as simple and individualized as possible.

Since 2020, hepster has established itself in Germany and Austria as the market leader for micromobility-related digital insurance products. “We know the market very well, the needs and performance and services. After extensive market research, we want to use and scale this knowledge in other markets. Therefore, we will expand strongly throughout Europe in the coming years.Range concludes.

More information about the hepster online store for French customers can be found at: www.hepster.com/fr-fr

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