Getsafe

Getsafe is a data-driven mobile platform offering contents insurance. Initially launched as a digital insurance broker, it has since pivoted to a direct to digital consumer insurance offering (its brokerage business was sold to Verivox).

Through Getsafe’s intuitive app, users are - first and foremost - able to scan the market and create personalised coverage in just 5 minutes. Once purchased, customers can alter their coverage to meet changing demands, generate real-time reports and regular price comparisons, and file a claim.

In its first 5-years Getsafe served over 60,000 customers, and designed its own insurance platform, CARL, and insurance chatbot, CARLA. After its latest funding round - a Series A to the tune of $17m - the company revealed the capital would be used to aid its European expansion efforts. Getsafe also plans to grow its team from the current 50 employees to more than 100. The recruitment drive will span customer care, software development and data science. The startup also plans to raise further funds over the next twelve months.

In 2018, the startup revealed it had sold the digital broker side of the business to Verivox Holdings, and planned to use the money made from the deal to further their offering and expand into international markets.

The following year, the Heidelberg-based firm announced its plans on a home contents insurance offering catering specifically to millennials.

In January 2020 Getsafe partnered with Hiscox to launch its gadget insurance through an independent British subsidiary in the UK.

The company applied for an insurance license from the financial regulator in April 2020.

In June 2020 Getsafe partnered with Quotezone, the UK insurance comparison site. Quotezone is the first UK aggregator partner for the German startup.

In December 2020 Getsafe raised a $30m Series B round, led by Swiss Re. Getsafe stated it would extend the funding into the first half of 2021, ahead of it launching products on its own insurance license.

The company raised a further $63m in Series B funding in October 2021.

Later that same month, Getsafe announced it had received its European insurance license, enabling the company to accelerate its expansion throughout the rest of Europe. The company revealed that it currently serves 250k customers, and has closed a reinsurance agreement with Swiss Re. It stated it plans to expand into life and health over the next few years.

In May 2022 Getsafe hit 50K customers in the UK (doubling its numbers in just six months), bringing its total customer base to 300k. The property and contents insurtech is now launching its new flexible buildings insurance which can be customised to individual needs and cancelled at any time without admin fees.

In January 2023 Getsafe launched in France, its fourth market following Germany, Austria and the UK.   It offers an "all-in-one" home product that includes contents cover, fire and water protection, and liability. Getsafe has also revealed it has reached 400k customers - up from the 250k customers it reported in October 2021, when it raised a $63m Series B extension.