The Degussa Bank AG Group acquired Munich General Insurance Services GmbH, a Munich, Germany-based startup that offers insurance brokers an infrastructure for the digital control and administration of their customer portfolio.
The amount of the deal was not disclosed. The sellers in the transaction were HTGF, the company’s founders and several business angels.
Degussa Bank made the acquisition through its subsidiary company Prinas Montan GmbH Versicherungsvermittler.
Founded in 2014 by CEO Manuel Stroeh, Munich General Insurance Services offers insurance brokers an infrastructure for the digital control and management of their customer base. Its broker platform, used by more than 1,000 registered insurance brokers to automate sales processes, features digital services such as comparison calculators, broker and end customer apps as well as a customer portal.
For the Degussa Bank Group, the acquisition is part of its digital transformation strategy. It follows the acquisition and expansion of discount and comparison platform Mitarbeitervorteile.de, the issue of the Degussa Bank Procurement Card for Amazon Business and the introduction of My ePayment as a company service.