While the topic of digitization has already been an important component of a sustainable future strategy in recent years, the changes brought about by Corona in recent months have once again highlighted the need for action. For many insurers, the changes in their day-to-day work in the pandemic have presented new challenges to corporate management. Corona has made transparent what many experts in the market had already noted before COVID 19 - digitalization is still very much a work in progress in many places, whether in terms of digital tools to equip employees for the home office, or processes that often still generate a lot of manual effort and require employees to be on site in the office. It was easier for companies that had already focused on digitizing all processes and ways of working - such as the insurtech Neodigital. Neodigital is both insurance startup but also fully licensed insurer, founded in 2017 by Stephen Voss and Dirk Whiting was founded. The goal is to build Germany's Leading Insurance Factory with Neodigital. 

"The developments through Corona have shown us that we are on the right track. Digitization is becoming increasingly important and will determine in the long term whether a company can still operate profitably in the market. If there are too many legacy systems that stand in the way of digitization, it makes it difficult for the company to respond quickly to new market conditions.." (Stephen Voss, Board Member and Founder)

Corona made the added value of digitization visible to everyone. This was also a new experience for brokers whose focus was on face-to-face meetings on site. After all, in times of Corona, many customers prefer the telephone and the Internet to personal contact on site. This is exactly where Neodigital comes in. Both established insurers can benefit from the digitized processes, e.g. as part of a white label solution, as well as brokers, who can view, edit and manage their customers' contracts with just a few clicks in myNeo. Documents resulting from contract changes are returned digitally in a few seconds and are available to brokers and customers.

With its focus on digitalization, Neodigital has already won over more than 130,000 customers and B2B partners such as VPV Versicherungen and CosmosDirekt in just 2.5 years since receiving its Bafin license in April 2018. Behind it all is a small, agile team from Saarland. Far away from the startup metropolises of Berlin, Hamburg and Munich, a powerful team has come together in the tranquil town of Neunkirchen to launch Neodigital, a fully digitalized insurer. 

"With our team, we have managed within a short time not only to launch the usual products, such as household contents or personal liability, but also to develop innovative new lines such as property and bicycle insurance. Close cooperation between product and IT was of central importance for the rapid creation of these products.." (Stephen Voss, Board Member and Founder)

Of course, it will not stop there - Neodigital will continue to grow and identify new exciting segments for itself. This will be accompanied by the development of more and more new digital processes that give the customer and broker full control over the contract at all times. Today, for example, contracts with flexible terms can already be terminated daily with a click on the contract or the contract can be adjusted in real time. Neodigital is also preparing for cooperation with new insurers in order to grow together.