Dusseldorf based SituatiVe offers event-based insurance granting consumers hassle free and digital risk transfer at the point of demand, when and where exposed to risk. The startup uses their own brands for live testing of products and distribution while emphasizing the reduction of customer acquisition costs. In addition, they provide full-service infrastructure and product development as-a-service for insurers and intermediaries to launch, sell and manage new insurance offerings in a fast and customer centric way.
SituatiVe taps into the four key millennial trends: on-demand, don’t lock consumers into a lengthy contract, provide unbundled convenience and if wanted, an agent is optional. 80% of the Millenials say that they would buy insurance for events that are not covered within their current insurance policies. With their own B2C brand, AppSichern, SituatiVe has extensive experience about the operation of applications for end consumers in the insurance sector via mobile. The brand serves as an innovative customer channel and marketplace for suitable solutions for tomorrow.
SituatiVe works in Germany for leading insurers and brands like Arag, Sparkassenversicherung, HDI, Die Bayerische, R+V, BGV, ERV, Squarelife Tokio Marine Kiln, Würzburger and Bavaria Direkt. At the moment they have various international projects in the pipeline, in the USA, Asia and Latin America.
The SituatiVe approach
SituatiVe sees leading online companies as a model for technology and sales, which they combine with their insurance knowledge and channel requirements geared towards the target group: millennials. Focusing on the mobile channel only, SituatiVe caters to the on-demand needs for insurance solutions, with coverage from 24h onwards, 24/7 purchase availability, with payment and conformation, from €2.99. Solutions that are based on the customer needs for solutions for their daily risk situations. Solutions that are flexible and continually adapted towards new trends and risks. Solutions that are not catered for in the traditional high cost rigid insurance products. SituatiVe combines their insurance experience, IT knowhow and close customer dialogue to develop products and applications for the end consumer via mobile. The SituatiVe solutions are also available as white-label applications for third parties: insurers, intermediairies or specific target groups.
Succes of SituatiVe
SituatiVe works every day on new mobile insurance solutions and has a successful proof of concept in Germany, with the lowest marginal cost per transaction in the market. Further roll-out can be realized through existing partnerships and distribution outlets with leading insurers and brands, such as Porsche. And SituatiVe has a projects pipeline for international expansion.
Why we selected SituatiVe for DIA Amsterdam
SituatiVe taps into key millennial trends: On-demand, they don’t lock consumers into a lengthy contract, they provide unbundled convenience and an agent is optional. Their solutions offer consumers hassle free and digital event-based insurance and help insurers fast with their innovative approach and ideas.
At DIA Amsterdam they will do a Live Demo following a realistic scenario or micro moment surrounding the event.
Who are Situative?
Founded by Lennart Wulff in 2013 in Dusseldorf. Key Investors are friends and family.
Lennart Wulff, CEO