ITC DIA Europe

ELEMENT: Supporting mobility ecosystems with contextual insurance solutions

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jul 30, 2020

Germany is Europe’s second largest fintech hub, after the UK. ELEMENT is one of the ten German fintechs who’ve grown their teams most aggressively over the last 12 months. ELEMENT builds white-label products for insurance. In short, they develop new insurance offerings that are then marketed by the partners under their own brand. Licensed by the German Federal Financial Supervisory Authority (BaFin), it can also act as a direct insurer and risk carrier in all EU countries, including managing claims settlement.

ELEMENT enables their insurance and non-insurance partners to supply fully digital customer-centric insurance solutions by integrating seamlessly into their value chains. They strongly believe that collaboration will be the key to the future of the insurance industry. Through opening their value chain, specialised suppliers will focus on their core strength. ELEMENT’s core strength is the implementation and administration of digital insurance solutions. Their white labelled products are then distributed by their partners to their respective target groups.


  • Their product development, usually 4 to 12 weeks, is much faster than the traditional product development in the insurance industry due to their fully digital approach and agile processes. (On average product development in the industry can take up to two years.) This very short go-to-market enables their partners to almost instantly react to market developments.
  • With the use of data and their modular product design platform they create insurance solutions that are individualizable and therefore, beat the “one-fits-many” approach of traditional insurance products.
  • Their insurance solutions are not only fully digital but can also be integrated into contextual customer interfaces. Customers can take out the insurance exactly at the moment they need protection, e.g. buy one of their specialised short-term cover directly in the car on the board computer or with the smartphone while shopping online.

How it works

Why we selected ELEMENT for DIA Amsterdam
ELEMENT continuously builds contextual ecosystems for insurers and enterprises alike. ELEMENTS approach to the market is unique: seamless integration into the value chain of their partners, tailor-made and individualised white-label insurance solutions and a modular product development.

At DIA Amsterdam CEO Christian Macht will show how partnerships between OEMs and insurtechs will shape the future of the mobility sector. They already offer new and interesting insurance solutions that display the possibilities of the integration of fully digital insurance products into automotive ecosystems.

Insurance solutions that combine an all-inclusive approach with a seamless integration into the customers product experience. Without a doubt this will become the new industry standard and we all will be affected by this in one way or another.

ELEMENT was founded by the fintech company builder finleap in 2017 and is still part of finleap’s large ecosystem. Licensed as direct insurer for P&C by the German supervisory authorities, ELEMENT can offer its fully digital insurance solutions in all EU-countries.

ELEMENT supplies its in-house underwritten solutions to more than 20 partners from the insurance business and beyond. Those partners distribute these solutions to their customers via all distribution channels. Key partners are Volkswagen and a big European internet provider.

At the moment around 120 employees working for ELEMENT. Their diverse team consists of people from various backgrounds and 25 different nations. ELEMENT has offices in three locations in Germany, Berlin, Lübeck and Nuremberg. Headquarters are in Berlin.

The insurance industry in Germany is – at least to large parts – still lacking the necessary drive for digital innovation. In 2017, we recognized that there is a need for fully digital products in the market and that customers expect a complete digital service from their insurers. ELEMENT, as the first German insurtech with a license from the federal authorities, stands for innovative and individualized insurance solutions that overcome the “one-fits-most” approach of traditional insurance products. With fully digital, customer centric products supplied by ELEMENT, we and our partners will shape the future of insurance. This way ELEMENT will become the digital backbone of the insurance industry.” Christian Macht, CEO ELEMENT

Check out their DIA Prime Time video here:

Amsterdam 12-13 June


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