"The last few years have clearly shown that the enthusiasm for bicycles is increasing, not only in the big cities, and high-quality e-bikes and pedelecs, in particular, are very much in vogue. We were therefore looking for a partner with strong technological capabilities who could offer rapid product development as well as a complete online service in the after-sales area. We decided to work with ELEMENT because that's where their strengths lie."
Joachim Zech
The insurance group die Bayerische was founded in 1858 and consists of the companies Bayerische Beamten Lebensversicherung a.G. (parent company), BL die Bayerische Lebensversicherung AG and the composite company BA die Bayerische Allgemeine Versicherung AG. The total premium income of the group amounts to over 715 million euros. The Group is continuously increasing its equity capital and is well above the industry average. The group manages investments of around 5.1 billion euros. Nationwide, more than 12,000 personal insurance agents are available to Bayerische's approximately 1 million customers.
The partnership between an Insurtech and a well-established insurer illustrates the many advantages of such a cooperation because it allows each partner to play to its strengths. The challenges for an insurance company, such as cost pressure on IT, hiring specialists or a rapid market launch of a new product, are solved by working with ELEMENT.
ELEMENT gains a strong sales partner who can access a large network. This ensures, on the one hand, that the product is launched nationwide and, on the other hand, that the digitalisation of insurance products progresses. At the same time, this kind of partnership at eye level symbolises the digital transformation that the insurance industry is currently undergoing. The credo: "Cooperation instead of disruption".
No deductible in the event of an insured event
Insurance of high-priced carbon bicycles possible
Wear and tear of tires and brakes is insured
Co-insurance of luggage
