15 September 2022
Since 1 June, ERGO has been offering a broad range of annex insurance products for electrical and household appliances, as well as cover for everyday items, on the Amazon marketplaces in Italy and Spain. German software vendor tech11, based in Würzburg, is handling the technical implementation of the pricing and policy issuance processes.
ERGO has made another important step towards further internationalisation. Since 1 June, the company has been offering a broad range of insurance products on the Amazon marketplaces in Italy and Spain for the protection of appliances and goods, as well as cover for other everyday items such as luggage, handbags and furniture. The policies will be offered as “annex” insurance products, i.e. insurance that is added to the purchase of a product or service. In Germany, ERGO is already one of the fastest-growing providers of annex insurance.
Mark Klein, Chief Digital Officer of the ERGO Group and Chair of the Board of Management of ERGO Digital Ventures AG, on the new offering: “By 2025, ERGO aims to be one of the leading digital insurance companies – both in Germany and in international core markets. With our offerings on the Amazon marketplaces in Italy and Spain, we have taken a big step closer to that goal. We are closing a large gap in the fast-growing market for annex insurance products. In addition, we are incorporating ourselves seamlessly into the digital supply chain for online retail and thus becoming part of a fully integrated, comprehensive solution.”
Market-wide online sales that include annex insurance products, which are particularly appealing for younger customers, have risen considerably in recent years. ERGO established itself in this segment early on as one of the leading insurers and has already entered many successful partnerships with online retailers.
The technical implementation of the offering on the Amazon marketplaces in Italy and Spain will be handled entirely by the software vendor tech11, which is based in Würzburg, Germany. tech11 provides a digital insurance platform for German and European property insurers. As a back-end solution, the “tech11 Insurance Platform” manages all processes relating to portfolio management and claims administration. Insurance products, tariffs and contract documents are configured automatically in real time in the background. The platform also enables country-specific customisation, technical implementation of interfaces with distributors and central ERGO systems, and access to a claims adjuster – all in line with the strictest of data protection and security policies. tech11 operates the technical solution as a fully managed, cloud-based service.
Pierre Dubosq, Co-Founder and Managing Director of tech11 GmbH, adds: “We’re proud of having proven the performance capability of the tech11 Insurance Platform internationally and being productive in two additional countries. We are currently seeing increased demand for core insurance systems that can be utilised not just in Germany, but also in a number of other European countries.”
This is already ERGO and tech11’s third undertaking as partners.