Hepster: The One-Stop-Framework for Fast Growing Insurance Segments

hepster and ELEMENT have entered into a strategic cooperation in order to act faster and more efficiently together in fast-growing insurance segments.

To this end, both partners have created a flexible framework with which they can offer a complete solution from a single source, from insurance products to claims settlement – and thus offer partners insurance solutions for distribution in the shortest possible time. Hepster manages the process with the partners, while ELEMENT acts as a risk carrier.

The first products for warranty insurance in various segments have already been launched and are to be expanded step by step.

"In our collaboration with hepster, we show how strengths can complement each other in a meaningful way to seize opportunities in a rapidly evolving market. With our joint expertise, we are setting an example for the market of how innovative and flexible solutions can be designed today." - said Fabian Fischer, Head of National Sales at ELEMENT.

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“Those who help each other increase their chances of growth. Market trends can be identified and served quickly, which represents a clear competitive advantage. It is entirely possible that InsurTechs will take over smaller insurers operationally in the near future and realign them to jointly meet the changing needs of the market. These developments make it clear that the future of the InsurTech industry will be significantly shaped by cooperative approaches.”
Hanna Bachmann
CRO and Co-founder of hepster

About Partner

The Rostock-based InsurTech hepster was founded in 2016 and offers an API-driven ecosystem that enables companies in all industries to integrate needs-based and individual insurance into their offerings. Using the embedded insurance approach, hepster creates the best experience in the field of insurance for its customers and partners. The InsurTech's portfolio includes mobility, electronics, equipment, travel, pet and accident insurance.

Project result

The collaboration between hepster and ELEMENT Insurance demonstrates the transformative power of InsurTech partnerships.

This efficient distribution of responsibilities in the supply chain shows the potential for collaboration in overcoming challenges, sharing technology platforms, and optimizing data sources. The partnership has led to more accurate risk assessments, personalized rates, and a better understanding of customer behavior.

Product Highlights

Dynamic MGA Model where hepster serves as a product and process owner, seamlessly collaborating with ELEMENT Insurance as the risk carrier.

Efficient use of data for more accurate risk assessment, personalised pricing and a deeper understanding of customer behaviour.

Pioneering digitization with innovative, user-friendly insurance solutions.

A wide range of tailored insurance products to meet the specific needs of customers in different sectors.

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