Switzerland’s leading online insurance Smile goes international

Helvetia Holding AG / Keyword(s): Market launch

Switzerland’s leading online insurance Smile goes international

31.10.2022 / 07:00 CET/CEST

Press release
St. Gallen, October 31, 2022

Helvetia begins with the internationalization of Smile and launches the successful business model of Switzerland’s leading online insurance company in Austria. The goal is to have Smile at the end of the strategy period. Helvetia 20.25 consolidate itself as the leading online insurance company in this market.

As announced in the spring, Smile will start in Austria. The insurance market there is similar to that of Switzerland; digitally, however, still little developed, but very akin to the network. Helvetia is therefore now gradually scaling up Smile’s unique success model in the European national markets. Philipp Gmür, CEO of Helvetia Group, explains: “The internationalization of Smile is a further step in Helvetia’s development as a European provider of financial services for insurance and pensions.” In a first step, Smile Austria products will be distributed through the established partner durchblicker.at. The product range begins with smile.home home insurance and is constantly being expanded.

Smile is the leading online insurance company in Switzerland and has developed significantly: In 2021, Smile recorded premium growth of 11.8 percent to CHF 111 million. The foundation of Smile’s success is its positioning as a digital lifestyle brand. In 2021, for example, Smile was the first European insurer to launch a freemium model from which non-customers can also benefit from free services. After Austria, Helvetia plans to launch Smile in Spain in 2023.

About the Helvetia Group
Headquartered in St. Gallen, Helvetia Insurance has grown into a successful insurance group with more than 12,000 employees and more than 7 million customers since 1858. It has always allowed its clients to seize opportunities and take risks: Helvetia is there for them when it matters most. As the best partner, Helvetia is present wherever security needs arise, with insurance, pension and investment solutions from a single source, as well as simple products and processes. The insurance group knows the business, from mobile phone insurance to insuring the construction of the Gotthard Base Tunnel and the long-term investment of client funds. Helvetia enthusiastically develops and opens business models and drives its own business in a powerful and future-oriented way. It acts with foresight and responsibility in everything it does: for the benefit of its shareholders, its customers and employees, its partners, society and the environment.
In Switzerland, Helvetia is the leading Swiss insurer of all kinds. In the Europe segment with Germany, Italy, Austria and Spain, the company has firmly established market positions for above-average growth. In the Special Markets segment, Helvetia offers customized special and reinsurance coverage around the world. With a turnover of CHF 11.22 billion, Helvetia achieved IFRS profit after tax of CHF 519.8 million in fiscal year 2021. Helvetia Holding AG shares are listed on the SIX Swiss Exchange.

About Smile Switzerland
Smile, the no-blah insurance, is the fastest growing online insurance company in Switzerland with more than 170,000 customers. As a complementary business model to traditional insurance, it offers its clients the best digital insurance experience through the Smile application, with fair premiums, the best service and everything 100% online. www.smile-insurances.com

This document was created by the Helvetia Group and may not be copied, modified, offered, sold or transmitted to third parties by the recipient without the consent of the Helvetia Group. The German version of the document is authoritative and binding. Versions of the document in other languages ​​are for informational purposes only. All reasonable efforts have been made to ensure that the matters set forth in this document are accurate and that the opinions expressed in this document are fair and reasonable. Information and figures from external sources should not be taken as correct or confirmed by the Helvetia Group. Neither the Helvetia Group as such nor its bodies, officials, employees and consultants or any other person are responsible for losses arising directly or indirectly from the use of this information. The facts and information presented in this document are as current as possible, but may change in the future. The Helvetia Group as such, its bodies, officials, employees and consultants or any other person disclaims any responsibility or express or implied guarantee for the accuracy or completeness of the information contained in this document.
This document may contain forecasts or other forward-looking statements related to the Helvetia Group, which by their very nature involve both general and specific risks and uncertainties, and there is a risk that the forecasts, projections, plans and other explicit or implicit content of the statements show prospects are inaccurate. We caution that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, particularly in the markets in which we operate, (2) developments in the financial markets, (3) changes in interest rates, (4) fluctuations in interest rates change, (5) changes in laws and regulations, including accounting principles and practices, (6) risks associated with executing our business strategies, (7) frequency, size and general trend of claims, (8) loss rates mortality and morbidity, (9) policy renewal and expiration rates, and (10) realization of economies of scale and scope. In this regard, we would like to point out that the above list of important factors is not exhaustive. Therefore, in evaluating any forward-looking statement, you should carefully consider these factors and other uncertainties. All forward-looking statements are based on information available to the Helvetia Group on the date of publication; The Helvetia Group is only required to update these statements if required to do so by applicable law.

End of press releases

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