According to its own information, the start-up ONE, which is part of the Wefox Group, is the fastest-growing insurance firm in Germany. In contrast to its competitors, the Vaduz-based insurtech relies on collaborating with intermediaries.

The digital insurance firm ONE, which forms part of the Wefox Group, sold a total of 46,000 policies in its first financial year. CEO of ONE, Oliver Lang, commented in a report by Carsten Herz of “Handelsblatt”, that the specialist household contents and liability insurers have now concluded “more than 130,000 policies”. The former McKinsey manager only assumed management responsibilities at the Vaduz-based start-up from founder Stephan Ommerborn back in May.

The change of management has not “brought the company off course in economic terms”, the article goes on to state. According to the new CEO, ONE “as a non-life insurance firm, sold the most household contents insurance policies of all insurers in Germany, and took second place for personal liability insurance”. By the end of the year, “the number of policies sold should rise to 250,000”, Lang explains. ONE continues to rank “as one of the most efficient insurance firms around the world, with nearly 4,000 policies per employee”.

In Germany, the Vaduz-based company must fend off a whole host of competitors. For example, the Berlin-based insurtech Coya is also striving towards market leadership in Europe, Handelsblatt writes. Moreover, the “US shooting star” Lemonade, which has received billions in financial backing, is also seeking to make waves on the market.

ONE is confident in its ability to emerge victorious from this competitive landscape. “With our close connections to brokers, we have clearly differentiated ourselves from other start-ups that only rely on direct business”, Lang explains in the report. The Vaduz-based insurtech intends to further expand upon this unique selling point in future.

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