ITC DIA Europe

ELEMENT Insurance AG: 100% cloud-based partner for digital insurance products

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Aug 26, 2022

The insurance industry is facing a digital reality. Its effect can be seen in changes throughout the value chain from underwriting to distribution. With rigid legacy systems, this is quite challenging for many insurance companies and brokers.

ELEMENT is a technology-driven insurance company from Berlin, combining the worlds of technology and insurance. ELEMENT provides insurers with plug-and-play customizable insurance products that can be implemented via API. Its product platform and smart APIs empower insurers to integrate completely digital insurance solutions into an insurer’s portfolio or product landscape.

The InsurTech enables companies from both insurance and non-insurance industries to offer digital insurance products to their customers. As a fully licensed risk carrier by BaFin, ELEMENT operates in the P&C sector across 20 lines of business. ELEMENT acts as an enabler to the insurance ecosystem, whether it is an insurance incumbent with legacy systems struggling to keep up with the speed of innovation or an intermediary aiming to respond to changing customer needs or an enterprise looking for embedded insurance.

Being a licensed carrier, ELEMENT offers different ways of collaboration, dependent on the insurer’s needs. For example, if the partner doesn’t have an API, ELEMENT handles it via Bordereau. If a partner cannot handle claims, ELEMENT will. In its solutions, ELEMENT takes care of all technical and regulatory requirements so that the partner can focus on its clients using ELEMENT’s fully white-label products and solutions.

It offers a range of property and casualty products: from covers such as household and private liability over innovative mobility solutions to parametric cloud outage insurance.

ELEMENT is a digital and carbon-neutral insurance company that creates innovative P&C solutions along the entire B2B2X value chain, including claims settlement.

Insurers can benefit from ELEMENT’s innovative digital products and flexible service model. ELEMENT works with the leading insurers in Germany such as Signal Iduna, die Bayerische and others. Together with Signal Iduna they have developed an insurance product for fans of German Premier League club BVB09, with a cashback feature – each goal from BVB enables policyholders to earn €0.09. And with die Bayerische it partnered to offer modular bike insurance according to their customer needs.

How does it work?

ELEMENT’s tech platform is modular, cloud-based and API driven. Allowing for variable collaboration possibilities, seamless integration without a legacy burden, and real-time data exchange with partners and use the latest possibilities of data analytics for underwriting and pricing.  

ELEMENT has developed over 45 partner-product combinations ranging from standard accident and home content insurance to niche products such as bike or pet insurance. Once the partner chooses the product, ELEMENT sets up a dedicated partner onboarding team that will manage the process end-to-end. ELEMENT collects the requirements and wishes of its partners and adapts the product to their needs. Depending on the product complexity, the end-to-end digital process can be completed in a matter of weeks.

ELEMENT integrates it into its partners’ value chains flexibly and seamlessly – by using REST APIs and industry standards such as BiPro and Bordereau. White-label modules for customer portals and purchase flows can be adapted to the partner’s brand for completely integrated customer communications. ELEMENT constantly develops its insurance platform further and continuously implements innovative features. With its platform ELEMENT sets a new standard in the industry and actively shapes the future of insurance.

Why did we select ELEMENT for DIA Munich 2022?

At DIA Munich 2022, Eric Schuh, Chief Insurance Officer & CFO ELEMENT and Conor O’Sullivan, Group Innovation Officer Servify, will present how they teamed up to deliver pan European after-sales experience with Embedded Insurance

They will share the customer experience they created if electronic devices break or get stolen. Usually, consumers go through an unpleasant process of writing emails, calling multiple phone numbers and waiting several days or weeks before the device is repaired or substituted. Servify, empowered by ELEMENT, specialises in designing protection plans that are tailored to a partner brand’s strategy to deliver great after- sales experiences


ELEMENT Insurance AG is a white-label product factory for insurance (digitalisation). It is licensed by the German Federal Financial Supervisory Authority (BaFin) as a direct insurer for non-life insurance, which enables ELEMENT to act as a risk carrier, including claims settlement, in all EU countries. It was founded in Berlin 2017.

July 2022, the company € 21.4 Mio funding in the Series B funding round, adding up to a total investment amount of € 88 Mio

ELEMENT is currently present in Germany, Austria, France, Spain, Belgium, The Netherlands, Luxemburg and Italy. ELEMENT is now looking to expand further in the (pan-) European markets. Its license allow ELEMENT to conduct business across all EU countries.

“ELEMENT is your partner for growth and a driving force in the insurance industry’s digital transformation. As a provider of innovative, scalable, tailor-made end-to-end insurance solutions we creating value at every step of the way.”

Christian Macht – Chief Executive Officer ELEMENT
Amsterdam 12-13 June


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