Swiss Life Acquires Franke und Bornberg Research: A Strategic Move in Digital Financial Advisory
In a significant move to strengthen its technological edge in the financial advisory landscape, Swiss Life Deutschland Holding GmbH has acquired Franke und Bornberg Research GmbH, effective January 1, 2023. This acquisition marks a pivotal step for Swiss Life in deepening its commitment to independent financial advisory and enhancing its suite of digital comparison tools for insurance and investment products. For professionals and clients navigating the complexities of financial planning, insurance comparison, and risk assessment, this merger signals a future where advanced technology and personalized advice are seamlessly integrated. Let's explore the details and implications of this strategic acquisition.
What Swiss Life is Acquiring: Core Technologies and Expertise
Franke und Bornberg Research GmbH is a specialist in technology-supported analysis and comparison of financial services products. Its key applications include:
- fb>xpert: A comprehensive comparison and analysis platform for financial products.
- fb>data: A data analysis tool for in-depth financial insights.
- fb>vertragscheck: A platform for contract review and analysis.
- fb>check.it: A tool for product verification and checks.
Additionally, as part of the transaction, Swiss Life acquires a 51% stake in vers.diagnose GmbH, a company co-founded by Franke und Bornberg that provides online risk assessment for biometric insurance products (like life and health insurance). The purchase price remains confidential. Importantly, the separate rating agency unit, Franke und Bornberg GmbH, remains independent and is not part of this transaction.
The Strategic Vision: Blending Human Expertise with Digital Tools
This acquisition is central to Swiss Life's strategy of combining human advisory competence with cutting-edge technology. Jörg Arnold, CEO of Swiss Life Deutschland, emphasized: "The future of financial advice lies in the interaction between people and technology. Customers want a genuine product selection and a convenient, customer-friendly advisory experience. I am convinced that personal advisory competence combined with modern technology makes it easier for people to access provision and security for a self-determined life."
Swiss Life plans further investments to develop these technological assets, intending to make the advancements available not only to its own network and clients but also to other market participants, reinforcing its role as a financial services technology enabler.
Continuity and Independence: Key Terms of the Deal
To ensure stability and maintain the trusted, objective nature of the platforms, the agreement includes several safeguards:
- New Structure: The acquired company will be renamed fb research GmbH and operate as a new subsidiary of Swiss Life Deutschland, retaining its headquarters in Hannover.
- Team Preservation: All employees will be retained.
- Brand & Product Continuity: The product brands (fb>xpert, etc.) and market presence will remain unchanged and independent.
- Guaranteed Objectivity: A cooperation agreement with the independent rating agency Franke und Bornberg GmbH contractually secures the ongoing objectivity of the analyses.
- Founder Involvement: Founders Michael Franke and Katrin Bornberg will continue to support the businesses. Michael Franke will focus on growing the rating agency, while Katrin Bornberg will remain as Managing Director of vers.diagnose GmbH.
New Leadership and the Path Forward
With the founders stepping down from the operational management of the research unit, a new leadership team takes over in January 2023:
- fb research GmbH: Led by Fabian Van Lancker (Spokesman), Bastian Geisler, and Stefan Stangl.
- vers.diagnose GmbH: Led by Katrin Bornberg, Dirk Ressel, and Stefan Stangl.
This structure ensures experienced leadership to drive the planned expansion and technological development.
What This Means for the Market
This acquisition is a clear indicator of the accelerating digital transformation within the insurance and financial advisory sector. It highlights several key trends:
- The Rise of Hybrid Advisory: The combination of robust digital comparison tools (insurance comparison software) with human advisors is becoming the gold standard.
- Importance of Independent Analysis: Tools that provide transparent, objective product comparisons are crucial for building client trust in holistic financial planning.
- Strategic Consolidation: Major financial services providers are actively acquiring fintech and insurtech expertise to future-proof their offerings and improve client experience.
For clients, advisors, and partner companies, this move by Swiss Life promises more advanced, efficient, and transparent tools for making critical financial decisions regarding insurance and investments.
Insurance companies and brokers face challenges in claims management with high backlogs, increasing claim frequencies, a shortage of skilled workers, and growing customer expectations. Manual processes are expensive and slow.