Klein Blue unveils its latest study on BtoC insurtechs in Europe, based on its proprietary platform. The study analyses 11 European players and 1 American reference player in the BtoC insurtech market and details the specificities and challenges of this distribution mode.
Discover the content of the Insurtechs BtoC study in Europe:
Presentation of the different distribution models in Insurtech (BtoC, BtoB, BtoBtoC) and list of the major players in each business model
BtoC insurtechs specialise mainly in the distribution of property and casualty insurance for everyday life (home, vehicles, equipment, etc.) as well as in the distribution of complementary health insurance for individuals. In this segment, we find Lemonade, Luko, Lovys, etc.
BtoB insurtechs target the self-employed, SMEs and VSEs with the distribution of professional insurance and also the distribution of health insurance for company employees. They include Alan, Assurup, InsureQ,etc.
The BtoBtoC Assurtechs focus on white label insurance distribution via intermediaries who are wholesale brokers or not specialists in the insurance sector. This is the case for Wakam, Qover, Wefox, etc.
Analysis of the maturity of the BtoC insurtech market
In terms of the number of policyholders, the American insurtech Lemonade leads our benchmark with more than one million insured people worldwide. At the European level, the German Wefox with its subsidiary One comes out on top with 350,000 insured, followed by GetSafe, Bought by Many (now ManyPets) and Luko, which have around 150,000 insured clients.