Swiss insurer Helvetia Insurance has acquired Hanover-based provider of auto insurance solutions Mobile Garantie.
Mobile Garantie is a provider of tailored insurance solutions and services, including guarantee and repair cost insurance, for supplemental vehicle insurance, namely warranty extension and breakdown insurance in Germany, Austria and the Netherlands.
The company aims to provide fast, straightforward claims handling and settlement to customers such as car dealerships and automotive manufacturers.
Helvetia Insurance has been working with Mobile Garantie since 2018 and is the underwriter for large parts of Mobile Garantie’s business in Europe.
The Swiss insurer has held an investment in Mobile Garantie through its Venture Fund since July 2019. Helvetia’s Swiss non-life business will fully acquire Mobile Garantie.
Through this transaction, Helvetia said it is strengthening its embedded insurance business (B2B2C) in Germany, Austria and Switzerland and gaining access to new customers.
Adrian Kollegger, head non-life Switzerland and member of executive management Switzerland, said, “By acquiring Mobile Garantie, we are creating a basis for further profitable growth in embedded insurance. The seamless integration of insurances at the point of sale and thus having a presence everywhere there is a need for insurance is in line with Helvetia’s strategic ambitions. In this way, Helvetia is setting benchmarks in customer convenience and systematically tapping new business areas on an ongoing basis.”
Rainer Doerr and Marco Nagtegaal, managing directors and owners of Mobile Garantie, added, “We are delighted that the acquisition by Helvetia secures the existence and strong further development of Mobile Garantie from both a strategic and financial perspective. This also creates considerable security for employees and for the location.”
Earlier this year, Akur8, the next generation insurance pricing solution powered by transparent machine learning, partnered with Hevetia Italy to take pricing to the next level.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
