simplesurance, getsafe, Coya, and ONE – convergence, emotions, and power of customer base in FinTech

The German mobile bank N26 announced that they are expanding into the USA. This announcement comes almost exactly one month after revolut, their biggest competitor, launched its operations in Austria and Germany (I wrote about revolut in revolut, N26, and the future of banking). Also, this announcement comes only a few days after revolut’s announcement of the cooperation with the InsurTech startup simplesurance. simplesurance — a test case for simplesurance and the industry This partnership is interesting due to several reasons. Specifically, in regards to simplesurance, it is interesting because their simplesurance’s solution for revolut does not stem from their standard offering. simplesurance, the Berlin-based FinTech, has three offerings: B2C products such as simplesurance.co.uk through which they offer insurance for consumer electronics, insurance cross-selling for e-commerce, and an insurance broker. I guess that this is a test case for them and — if successful — going to integrate that as a standard offering. As it is concept-wise similar to their cross-selling solution, it makes sense to incorporate that into their offering from a portfolio perspective. From an industry-perspective — and this is another interesting aspect of this cooperation — it makes sense as well because it points at the convergence of

volders, a Berlin-based contract management startup, raised two million euros

 volders, a Berlin-based contract management startup raised two million euros. The company describes itself as a personal contract assistant. You feed the application with your contracts and it manages them for you. You are alerted about contract expiration, you can cancel or prolong contracts and in combination with a built-in price comparison tool you can compare and sign up for new contracts. Overview of your contracts in volders (Source) In essence, volders wants you to do the following things in a repetitive circle: Upload all your contracts Receive notifications about contract expiration Cancel contracts Compare and switch contracts volders started as vertragslotse.com in 2014 and received a six-figure investment in 2015. Also in 2015, Vertragslotse.com was renamed into volders. (It seems to me that the major reason for the name change was internalization.) Finally, In 2016 they launched an iOS-App (pretty late) (volders’ history) With their latest investment they want to position themselves as your „personal digital contract assistant“. Furthermore, they want to make “their customer service more proactive and tailor the comparison and prolongation offers more towards their customers“. This year they increased their user base by 50 percent to 550.000 (from Gründerszene). Their plan (more proactive customer service and