Corporate News

Deutsche Familienversicherung launches instant payout via Paypal

Frankfurt am Main, 06. September 2023 – DFV Deutsche Familienversicherung AG ("Deutsche Familienversicherung"), the leading direct insurer from Frankfurt, has launched direct payouts of reimbursements for customers via PayPal as of 24 August. This innovative and fully digital form of payout is still little used in the insurance industry. Usually, payouts continue to be made classically by bank transfer. The direct insurer is thus one of the leaders in the field of fully digital payouts in the European insurance landscape.

"With the launch of instant payouts via PayPal, we are offering our customers exactly what they want: fast and fully digital payouts within a few seconds to their own PayPal account. With this, we remain true to our maxim "Simple.Sensible". Recently, the customer experience is no longer affected by annoying bank processing times," comments Dr Maximilian Knoll, General Representative for Operations & Claims/Performance, responsible for Customer Service, at Deutsche Familienversicherung.

Fully digital customer journey from signing to payment

Customers want it to be as simple and as fast as possible when they take out an insurance policy online. No other insurer has made it as easy to take out an insurance policy as the Frankfurt-based direct insurer. While other insurers still require customers to endure lengthy closing processes after selecting a product, Deutsche Familienversicherung has radically simplified this process as well. Thanks to modern payment methods such as GooglePay, Amazon-Login & -Pay or PayPal, the entry of data is considerably shortened, saving precious time. The same applies with the introduction of PayPal instant payout for claims and benefits settlement. When submitting the invoice via the DFV customer app or the DFV customer portal, the customer can process the refund quickly, directly and fully digitally via PayPal by entering their PayPal data.

Customer request: "Facts, figures, data“

According to the "Disbursements Satisfaction Report 2023", by PYMNTS, a recognised global expert in data, news and insights on payments innovation, 53 per cent of consumers are willing to switch insurance companies to receive claims payments immediately. In the same study, 41 percent of 2,292 consumers surveyed are even willing to pay a fee for this type of payout (instant payout). The survey results clearly show that customers are already intensively asking for digital service tools such as instant payouts. Deutsche Familienversicherung has already recognised this need in customer service and continues to consistently implement digital customer centricity.               
 

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About DFV Deutsche Familienversicherung AG

DFV Deutsche Familienversicherung AG (ISIN DE000A2NBVD5) is a leading direct insurer. As a digital insurance company, DFV covers the entire value chain with its own products. The direct insurer's goal is to offer insurance products that people really need and understand immediately ("Simple. Sensible."). DFV offers its customers multiple award- winning supplementary health insurance (dental, health, supplementary long-term care insurance) as well as accident and property insurance. Based on the state-of-the-art and scalable IT system developed in-house, the company sets new standards in the insurance industry with digital product designs throughout.