Getsafe Appoints a New CFO: A Strategic Move for Your Digital Insurance Experience
If you're navigating the complex world of private health insurance (PKV) and statutory health insurance (GKV) in Germany, you know the industry is ripe for digital transformation. Getsafe, a pioneering Insurtech company, is making decisive moves to become a fully licensed digital insurer. Their latest strategic step? Appointing Michael Oberste, former Managing Director of Roland Assistance, as their new Chief Financial Officer (CFO), effective January 1, 2021. This isn't just corporate news; it's a signal of greater stability, innovation, and customer-centric focus for your insurance future.
From Digital Broker to Licensed Insurer: Getsafe's Evolution for Your Benefit
Understanding Getsafe's journey helps you trust where your coverage comes from. Until the end of 2017, Getsafe operated as an online broker, specializing in a digital contract folder. Since then, the Heidelberg-based company has transformed into an Assekuradeur (direct insurer), offering its own products in liability, household contents, dental add-on, and legal protection insurance.
In a pivotal move in September 2018, Getsafe exited the brokerage business entirely. Why? To focus 100% on building its proprietary insurance platform. This shift means they aim to control the entire customer experience for you—from quote to claim. A crucial milestone in this journey is their application for a full insurance license from the German Federal Financial Supervisory Authority (BaFin). This license, sought for the property and casualty insurance sector, would solidify Getsafe's role as a primary insurer, enhancing security and oversight for your policies.
Strengthening Leadership: Why a New CFO Matters for Your Policy's Security
The appointment of a seasoned CFO like Michael Oberste is a direct investment in the financial health and regulatory robustness of the company that holds your policy. Oberste, a PhD in economic sciences, brings extensive experience from Roland Assistance. At Getsafe, he will oversee Accounting, Finance, Reporting, and Risk Management.
For you, the customer, this translates to:
- Enhanced Financial Stability: Strong financial governance is the bedrock of any insurer's ability to pay claims.
- Improved Risk Management: Better risk assessment leads to more sustainable and potentially more competitive pricing for your private health insurance or other plans.
- Strategic Growth: With solid financial leadership, Getsafe can invest more confidently in the technology and services that simplify your insurance management.
This move follows Getsafe's earlier establishment of a prominent Supervisory Board, including figures like former MLP board member Gerhard Frieg and former Talanx Group board member Ulrich Rosenbaum. This collective expertise builds a formidable foundation for a reliable digital insurer.
Digital Insurance Explained: A Comparative Look for US Readers
If you're in the United States, understanding the German insurance landscape can be tricky. Here's a simple analogy:
| German System (Getsafe's Context) | US Equivalent | Key Similarity |
|---|---|---|
| Private Health Insurance (PKV) Offered by private companies like Getsafe. Often chosen by self-employed, high-earners, or civil servants. | Private Health Insurance Plans from providers like UnitedHealthcare or Blue Cross Blue Shield. | Both are market-driven, offer varied plans, and are separate from government-run systems. |
| Statutory Health Insurance (GKV) Government-regulated, public system. | Medicare / Medicaid Federal/state health programs. | Both are publicly funded or mandated systems providing a baseline of coverage. |
| Insurtech/Digital Insurer (Getsafe) A tech-driven company simplifying insurance online. | Companies like Lemonade or Oscar Health Tech-focused insurers using apps and AI. | Both use digital platforms to streamline buying, management, and claims for a better user experience. |
Getsafe's model is akin to a digital-first provider like Oscar Health, aiming to make managing your health insurance or liability insurance as intuitive as using a smartphone app.
The Future of Your Insurance with Getsafe
Getsafe's strategic hires and pursuit of a BaFin license point toward one goal: becoming a trusted, full-stack digital insurer for the modern customer. For you, this evolution promises:
- Simplified Management: All your policies, potentially including future PKV offerings, in one digital dashboard.
- Transparent Processes: Clear pricing and straightforward claims handling powered by technology.
- Innovative Products: As a licensed insurer, Getsafe can design flexible, tailored products to close coverage gaps in areas like income protection.
The company's focus is clear. By bringing in experts like Michael Oberste and building a strong governance framework, Getsafe is not just building an insurance company; it's building a more secure and simple financial future for its customers. As the digital insurance space grows, this commitment to financial integrity and customer-centric innovation is what will define the leading providers of tomorrow.