Dear InsurTech Pioneers,
we’d love to get the word out and hear your feedback on Liimex (https://www.liimex.com/#/en) a digital broker and insurance manager for startups and mid-market corporates in Germany. Somewhat similar to better known startups in the US: CoverWallet, FounderShield, Embroker, Insureon. However, Liimex aims to put its focus on mid market customers with a more complex risk profile that do require more involvement from human advisors. Ultimately, Liimex platform will be the online banking for insurances. Think zenefits for HR management.
Sounds interesting.Is your target market only in your country of origin or world over?. Unlike banks,insurance does not depend on capital rather contribution so i wanted to ask if your pool contributions will be able to withstand catastrophic disasters(http://www.allbankingsolutions.com/Top-Topics/Principles-of-insurance.shtml).Lastly you referred to your startup as both a broker and insurer is your capital divided between those 2 or each has its own capital as required by the solvency directive (http://ec.europa.eu/finance/insurance/solvency/solvency2/index_en.htm).
Hi William. Liimex is an insurance broker, as such, no capital requirements and/or regulatory requirements similar to banks or carriers.
Your idea is brilliant sir, i am really impressed and continue to follow your organization as it grows!!.
@Benno Improved data distribution for both market forces and targeted risk assessment to a specific market niche could also act in your favor resulting in profitability of your organization.Insurtech major strength i think lies in the ability to reduce risks of information asymmetry, moral hazard ,morale hazard.The ability to reduce chances of clients being under and/or over insurance.
Traditional insurance has received criticism in lack of innovation as products especially in life insurance were products have been in the maturity stage for decades so companies like yours are bringing in the answer to that criticism with innovation in product development and risk pricing, insurtech could reduce the transaction cost and increase efficiency to customers world wide because of globerlization, the underwriting process, fraud prevention, and claims administration.@ifi
Hello, I had a look at your site. Who is your target client group and in what region and country?
You state that you are brokers without listing your state lic. numbers or your 34d reg for germany.
You can contact me to discuss. The idea if you can execute - Great! If you can whitelabel it. Even better.
Hi Andre, Liimex is not yet accepting nor serving any customers - regulatory approval process is ongoing. Target group are startups and mid market companies in Germany. Happy to discuss bilateral in more depth.