Deutsche Familienversicherung:  the first fully digitized insurer in Germany

Deutsche Familienversicherung: the first fully digitized insurer in Germany

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 19 Nov, 2018

Die Deutsche Familienversicherung (DFV) is an insurtech & insurance company based in Frankfurt am Main. The scope of approval is property insurance and supplementary health insurance. The main market is Germany, but the company wants to enter the European market. With a combination of award winning products and an IT-platform which can easily accommodate 10x the current client base at little incremental cost thanks to the extensive usage of AI coupled with fully automated, real-time acceptance and processing of applications, they are the first fully digitized insurer in Germany. 

Simple, flexible and award-winning products coupled with an end-to-end digital customer journey, is DFV destine to become a leading insurer. Their key insurance product has been ranked as #1 by Stiftung Warentest (public and independent foundation for customer care) three years in a row. In the last ten years DFV won over 130 product awards.

DFV has grown strongly in the past years. At the moment they serve 500.000 customers with € 72 million premium volume.

The first fully digitized insurer in Germany
DFV is the first fully digitized insurer in Germany, processing the vast majority of its administrative tasks automatically via AI and employing all relevant digital sales and payment channels. They are leaner, faster and more efficient than rivals.

How it works
Simple and easily-understandable insurances, an extended right to revocation and but a daily right to cancellation. Also, an exemption from contributions in case of unemployment or inability to work is included amongst the performance characteristics. Customers can communicate analogously or completely digitally, whereby matters can be processed in real-time. They use artificial intelligence, fully automated systems and portal and web solutions to provide customers with the highest level of convenience and speed.

I. Contact/conclusion
A customer will immediately be shown all the premiums for all insurances after simply entering the age at the website or app . After selecting a product in the desired tariff, further advisory tools and explanatory films are available.

Through a chat-bot customers receive immediately an offer. DFV is the first insurance company in Germany to not only provide advice via their own Alexa Skill, but to consistently pursue the path of the digital voice assistant and is the first insurer to enable insurance advice via Google Home.

II. Policy issuing process
Customers will only receive three emails after the successful transmission of data:

  • confirm the application
  • a link to the DFV customer portal and the personal E-policy
  • the confirmation of your insurance cover.


III. Business process
Customers can easily manage and update contracts.
DFV provide customers with the largest possible selection of service tools so that they can maintain full control over their contracts at all times. If it is necessary to adapt the accident insurance cover, perhaps because the risk has suddenly increased, then the customer can conveniently increase (or reduce it) in seconds with a swipe of the finger.

IV. Damages/claims process
A claim or a damage must be reported. A customer can do this in many different ways. The process functions even quicker via our customer portal, or directly via the wallet card. Simply scan in the invoice or photograph it using a Smartphone and upload it to the customer portal.

V. Regulation process
After the report has been received the customer receives confirmation of receipt via email.
Artificial intelligence determines which type of document is concerned and assigns the invoice to a claim. After the insured person has been recognized he receives a message about the procedure. This all works fully automatically thanks to artificial intelligence and digital added value.

In case of medical invoices or reports, the artificial intelligence additionally reads out the so-called ICD codes. After the code has been read out and compared to the insurance terms and conditions, the regulation occurs within 48 hours and the money is transferred.

Why we selected DFV for DIA Munich
DFV simplifies the whole insurance process and offers customer easy access. DFV can be a catalyst for change for the insurance industry. Opening new revenue streams and a new way of customer centricity.

At DIA Munich Dr. Stefan Knoll, CEO & Founder of DFV showcased the Alexa Skill.

Who is Deutsche Familienversicherung (DFV)?
The Deutsche Familienversicherung (DFV) based in Frankfurt am Main is a supplementary health insurance and property insurer. It was founded by Dr. med. Stefan Knoll in 2007.

DFV is an owner-managed company. They believe in the power of written correspondence in the digitalized world, every new customer is personally welcomed by the CEO, who is also the founder and shareholder. The founding capital is about € 34 mio. The company is one of the 100 largest insurers in Germany.

“When we founded the German Family Insurance, our claim was much easier and better to do than the established competition. On the way there we have tried many things and also paid apprenticeship. Today - 11 years later - we are the fastest growing direct insurer. And we have succeeded in establishing a fully-fledged insurer that is trusted by around 500,000 customers, which is growing at an above-average rate and is in the black. And thanks to an ingenious IT platform and AI, we only need 100 employees - that's live digitization.” Dr. Stefan Knoll, CEO & Founder of DFV

https://www.deutsche-familienversicherung.de/

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