Verivox Acquires Insurance Broker Unit of Getsafe

insurtechVerivox, the General Atlantic and Nucom’s co-owned price comparison site, acquired the insurance broker unit of Getsafe, a Heidelberg, Germany-based digital insurance wallet provider.

The amount of the deal – which followed General Atlantic’s investment in the digital business of ProSiebenSat.1 (called NuCom), was not disclosed.

Following the acquisition, with the integration of Getsafe’s technology, over 8m Verivox customers will be able to manage all of their insurance policies on the web or mobile app. Verivox price comparison algorithms will then enable customers to optimize their insurance portfolio by finding better deals for car or renters insurance within seconds.

Getsafe, which is led by CEO and founder Christian Wiens, will now focus on developing its own insurance proposition in partnership with re-insurance carrier Munich Re. The company has already sold 30,000 of its policies via its mobile app in 2018 and plans to use part of the profits from the deal to develop further products and expand to new international markets.
Customers can buy, change or cancel an insurance policy paper-free and in real time in the Getsafe app.

Launched in 2015, the company is backed by prominent investors like Partech, Acton, btov, Partech Ventures and Commerzbank.



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