Getsafe

Getsafe is a German digital insurance provider of content, pet, health, and other types of personal and liability insurance. It also has operations in the UK and France, where it provides homeowners insurance, and in Austria, where it offers homeowners and other personal liability insurance. The company secured a European insurance license from BaFin, Germany’s financial regulator, in October 2021. It aimed to leverage the license to expand into new European markets, with hopes of branching out to France and Italy.

Getsafe provides insurance through a mobile app and an AI-powered chatbot called "Carla," which also offers users personalized insurance recommendations. Additionally, users can submit claims via the app, and Carla will guide them through the entire process.

In January 2024, Getsafe acquired deineStudienfinanzierung, a German digital platform for student loans, for an undisclosed amount. The acquisition is part of Getsafe's strategic plan to serve individuals through a direct-to-consumer approach and expand its portfolio, thereby enhancing the financial well-being of individuals. deineStudienfinanzierung will continue to operate independently after the acquisition.

Key customers and partnerships

As of January 2024, Getsafe served over 550,000 customers, with the company claiming that 1 out of 3 customers has purchased more than one policy.

The company partnered with comparison site, comparethemarket.com (in May 2021), to list its products on the latter’s website with the aim of expanding its customer reach in the UK.

Funding and financials

In October 2021, the company raised USD 63 million in Series B funding, backed by multiple investors such as Earlybird and Abacon Capital. The funding round is an extension of its Series B round announced in December 2020, bringing its total Series B funding to USD 93 million. The new funds were intended to be directed toward becoming a full-service carrier and obtaining its own insurance license, and expanding its geographical presence.