Depending on which point of the value chain they tackle, insurtech companies in Germany can be grouped in three main business model categories: propositions, operations, and distribution. Digitalization of operations is the largest category with 51 active startups or 38 percent of the German insurtech market in 2019. Companies in this segment look for new ways to optimize business processes. The second largest category, distribution of insurance products, targets the sales segment of the value chain and includes 44 startups. Companies in the third category, digital insurance propositions, offer new insurance propositions through digital means.
Number of insurtechs in Germany in 2019, by core business activity
Characteristic
Digital insurance propositions
Distribution of insurance products
Digitalization of operations
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Oliver Wyman. (July 5, 2019). Number of insurtechs in Germany in 2019, by core business activity [Graph]. In Statista. Retrieved July 23, 2024, from https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/
Oliver Wyman. "Number of insurtechs in Germany in 2019, by core business activity." Chart. July 5, 2019. Statista. Accessed July 23, 2024. https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/
Oliver Wyman. (2019). Number of insurtechs in Germany in 2019, by core business activity. Statista. Statista Inc.. Accessed: July 23, 2024. https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/
Oliver Wyman. "Number of Insurtechs in Germany in 2019, by Core Business Activity." Statista, Statista Inc., 5 Jul 2019, https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/
Oliver Wyman, Number of insurtechs in Germany in 2019, by core business activity Statista, https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/ (last visited July 23, 2024)
Number of insurtechs in Germany in 2019, by core business activity [Graph], Oliver Wyman, July 5, 2019. [Online]. Available: https://www.statista.com/statistics/1127221/insurtech-number-germany-by-subcategory/