DFV Deutsche Familienversicherung - Good progress in H119
DFV Deutsche Familienversicherung (DFV) is a non-life insurtech company based in Europe. Its AI and automated processing platform allow for greater scalability, lower costs and quicker customer responses compared with typical insurance models. Following the company’s IPO in December 2018, management’s key focus is on growing the business while diversifying its product range and advancing digitisation. Earned premiums grew €8.5m in H119; the FY19 target is a €25m increase to €100m. The net income loss was €2.8m in H119, which was expected as DFV is paying upfront sales commissions on its fast-growing insurance book. DFV expects the current sales costs to earned premium ratio to decline from the current 1:2 to 1:5 by 2021, therefore returning profitability.DFV Deutsche Familienversicherung AG. DFV Deutsche Familienversicherung AG is a Germany-based company engaged in digital Insurtech and insurance sector. The Company focuses primarily on selling insurance policies digitally and online. It offers the broad range of digital customer solutions, such DFV customer portal or DFV app that enable its customers to process business transactions in real time, covering advice, financial statements, document management and claims handling. Its product portfolio includes supplemental health insurance policies, such as supplementary outpatient, inpatient, dental and long-term care insurance, and property insurance, such as household contents, liability, legal defence and accident insurance policies. The Company has wholly-owned subsidiaries in Germany.
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