simplesurance expands to Great Britain

May 2017

simplesurance expands to Great Britain

Simplesurance, a Mountain Partners portfolio company, announced its expansion to the British market. Starting April, the Berlin-based InsurTech founded in 2012 will offer its product insurances in the UK through its platform Munich Re/Great Lakes UK will be the risk taker for the insurances within the British market.

Both through its new proprietary platform and trough partners in e-commerce, British consumers will be able to insure their electronic gadgets against theft, breakage, water- and many more damages. First, simplesurance offers insurance for mobile and stationary electronic devices, such as smartphones, tablets, laptops, and also warranty extensions for washing machines, fridges and many more household goods. The offer will be gradually extended to other product categories.

Customers of mobile phone manufacturers OnePlus and Huawei in the UK could already secure their smartphones and tablets with an insurance by simplesurance. In the future, simplesurance plans to establish more partnerships with British e-stores. These shops can integrate the innovative cross-selling technology from simplesurance into their shop system and thus offer their customers a modern one-click-experience. That way, simplesurance has been revolutionizing the way people see and buy insurances for almost five years. Moreover, the company offers its partner shops an extended service for their customers and enables the shops to increase their margin significantly.
Already more than 2.000 online retail shops in 28 European countries, Norway and Switzerland use the state-of-the-art cross-selling-software solution. Customers can purchase a product insurance with their product directly at the point-of-sale with just one click.

“We focus on covering the entire European market”, says CEO and Founder Robin von Hein. “We already built strong partnerships with Huawei and OnePlus who use our software and offer our insurances. In the past four years, we have gained expertise and perfected our plugins for all relevant shop systems. That’s why now it is the right time to launch our products in the UK.”

Just recently, simplesurance announced a new funding. In this round, the total funding increased to more than €30 Million. Allianz SE, Route 66 and Rheingau Founders raised their stake. Additionally, Rakuten, Japan’s leader in e-commerce and fintech, invested in simplesurance. The new funding strengthens the strong international position as cross-selling provider of product insurances for e-commerce-businesses.

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