A new German motor insurance company, Neodigital Autoversicherung AG, has been created through a joint venture between ICMIF member HUK-COBURG and Neodigital Versicherung AG. The new company has just received permission to commence business operations from the German Federal Financial Supervisory Authority (BaFin). Through this new venture, HUK-COBURG is continuing its expansion into new business fields.

With the operational start of Neodigital Autoversicherung AG planned for the coming weeks, HUK-COBURG will address new customer groups and open up new sales channels. The products of Neodigital Autoversicherung AG will be geared towards digitally scalable platform solutions and will therefore represent a further step in the consistent expansion of the new business segments for HUK-COBURG.

Neodigital Autoversicherung AG incorporates the digital competence of Neodigital to create new offers and products quickly and flexibly. This is complemented by the long-standing expertise of Germany’s largest motor insurer, HUK-COBURG.

“We are pleased to be able to offer flexible and digital motor insurance solutions together with our joint venture partner Neodigital Versicherung AG in order to open up new market segments” says Markus Imle, Head of New Business Areas (NG) at HUK-COBURG and Member of the Board of Neodigital Autoversicherung AG.

Neodigital stands for complete online management of all contracts and is characterised by a high degree of automation in process handling, while HUK-COBURG stands for high price and service quality. The combination of both will bring new digital products and solutions not only to customers, but also to agents and advisors.

“With a completely digital motor insurance policy, we are offering insurance customers in Germany a completely new and state-of-the-art product with which we are laying the foundations for further innovations in the motor sector,” said Stephen Voss, Chief Sales and Marketing Officer of Neodigital Versicherung AG.