FinanzRitter is a next-generation digital insurance broker that combines consumer protection, artificial intelligence and handcrafted user interfaces to provide standardised, fast and intuitive insurance consultancy, policy management and handling of claims. Reech Corporations Group has agreed a significant seed investment in German insureTech start-up FinanzRitter, in the latest addition to its growing pan-European portfolio of finTech businesses.
FinanzRitter was founded by Florian Kümper, who has more than ten years experience in the insurance industry, together with Dominic Siedhoff who holds a doctorate in Artiﬁcial Intelligence, experienced software engineer Sebastian Cordes and Till Sanders, a media and interface designer. Customers are invited to fill in an anonymised questionnaire which evaluates their overall insurance needs and then can recommend the appropriate level of cover to suit the client’s precise circumstances using innovative machine learning technology, If the customer then decides to go to the next stage, the app can handle the entire process of purchasing the policy through the verification process, and can even manage the entire claims process from start to finish via the smartphone app. The app can also alert customers where they have taken on excessive or inappropriate cover.