Skip to main content

Getsafe expands to France starting with home insurance

German insurtech startup Getsafe is adding a fourth market with today’s product launch. In addition to Germany, Austria and the U.K., Getsafe is now going to offer insurance products in France. The company will first offer a home insurance product.

Getsafe is trying to disrupt the insurance market with a focus on digital-first insurance products. It sells its products directly to end customers through its website and app unlike its German rival Wefox.

In its home market, Getsafe originally started with a home contents insurance product. But it has greatly diversified its lineup of products with the addition of private health insurance, drone liability insurance, pet health insurance and even some financial products like private pension plans.

In October 2021, when the company announced a Series B extension of $63 million, Getsafe had 250,000 customers. It now has 400,000 clients as it is about to accept new customers in France. Getsafe has its own insurance license from Germany’s financial regulator, BaFin.

On the French market, the company is going to offer an all-in-one home insurance product. This kind of insurance products is particularly popular in France as home insurance is a legal requirement whether you own or you’re renting your home. It usually protects the house or apartment against fires or water damages as well as the contents of your home. It also includes home liability insurance.

It’s going to be interesting to see if Getsafe manages to capture some market share as this is a crowded market. All legacy insurance companies offer home insurance products and still represent the majority of contracts. When it comes to newcomers, French startup Luko also started with home insurance and now has 400,000 customers. Last year, Luko acquired Coya, a German competitor. In other words, Getsafe and Luko now both operate in Germany and France.

Lemonade, the publicly traded American insurtech, also launched its renters insurance in France. While Lemonade performed quite well on the stock market after its initial public offering, its shares dropped quite dramatically in late 2021 and 2022. The company’s market capitalization is now just above the $1 billion mark.

Lemonade’s performance could have a chilling effect on the insurtech startup market. But that doesn’t seem to stop Getsafe as the company already plans to launch more products on the French market thanks to its digital-first approach and direct-to-consumer distribution strategy. You can expect a private health insurance product, some travel insurance offerings or pet health insurance plans by the end of 2023.

Image Credits: Getsafe

Getsafe expands to France starting with home insurance by Romain Dillet originally published on TechCrunch



source https://techcrunch.com/2023/01/25/getsafe-expands-to-france-starting-with-home-insurance/

Comments

Post a Comment

Popular posts from this blog

The Silent Revolution of On-Device AI: Why the Cloud Is No Longer King

Introduction For years, artificial intelligence has meant one thing: the cloud. Whether you’re asking ChatGPT a question, editing a photo with AI tools, or getting recommendations on Netflix — those decisions happen on distant servers, not your device. But that’s changing. Thanks to major advances in silicon, model compression, and memory architecture, AI is quietly migrating from giant data centres to the palm of your hand. Your phone, your laptop, your smartwatch — all are becoming AI engines in their own right. It’s a shift that redefines not just how AI works, but who controls it, how private it is, and what it can do for you. This article explores the rise of on-device AI — how it works, why it matters, and why the cloud’s days as the centre of the AI universe might be numbered. What Is On-Device AI? On-device AI refers to machine learning models that run locally on your smartphone, tablet, laptop, or edge device — without needing constant access to the cloud. In practi...
1 comment
Read more

Apple’s AI Push: Everything We Know About Apple Intelligence So Far

Apple’s WWDC 2025 confirmed what many suspected: Apple is finally making a serious leap into artificial intelligence. Dubbed “Apple Intelligence,” the suite of AI-powered tools, enhancements, and integrations marks the company’s biggest software evolution in a decade. But unlike competitors racing to plug AI into everything, Apple is taking a slower, more deliberate approach — one rooted in privacy, on-device processing, and ecosystem synergy. If you’re wondering what Apple Intelligence actually is, how it works, and what it means for your iPhone, iPad, or Mac, you’re in the right place. This article breaks it all down.   What Is Apple Intelligence? Let’s get the terminology clear first. Apple Intelligence isn’t a product — it’s a platform. It’s not just a chatbot. It’s a system-wide integration of generative AI, machine learning, and personal context awareness, embedded across Apple’s OS platforms. Think of it as a foundational AI layer stitched into iOS 18, iPadOS 18, and m...
Post a Comment
Read more

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...
Post a Comment
Read more