Berlin, 02.05.22 - ELEMENT, Germany's only 100% cloud-based insurer, is celebrating its fifth anniversary and continues to consistently focus on growth. The key to success is to offer the most innovative solutions in the industry for the entire value chain of insurance needs.
ELEMENT is a driving force of digital transformation in the insurance industry and the leading pan-European provider of scalable, tailored next-generation end-to-end insurance solutions. We live our Insurance-as-a-service credo.Dr Christian Macht, CEO of ELEMENT.
ELEMENT has developed rapidly, with turnover rising to 10.4 million euros in 2021 - an increase of over 50% compared to the previous year. There was also a massive increase in the number of customers who purchased a policy from ELEMENT through a partner.
The 200,000 customer mark was exceeded, and more than 50 partners distribute ELEMENT products, including three DAX 40 companies. There are more than 21 property and casualty insurance product lines to choose from. ELEMENT is active on the market in several EU countries with its partners. More than 130 employees work for ELEMENT at two locations. First-class investors from the insurance world as well as classic growth investors have supported ELEMENT so far with a total investment of 67 million euros.
The goal for 2022 is clearly defined - an increase in turnover of 100%, also by means of pan-European growth.
When ELEMENT started in 2017, hardly anyone in Germany knew what an insurtech even was. Just five years later, ELEMENT has played a big part in changing that. In the meantime, ELEMENT has become one of the largest and most successful insurtechs in Europe and it is impossible to imagine the insurance industry without it. As a climate-neutral company, ELEMENT is shaping the future of the insurance industry in all areas,Dr Christian Macht, CEO of ELEMENT.