Keep track of what’s happening in one of the world's largest insurance communities. Sign up for our newsletter and get news, knowledge & inspiration.
German InsurTech partners with TIA Technology
FinLeap’s Element has chosen TIA’s core technology platform to drive their innovative InsurTech solutions.
Copenhagen, Denmark - March 23rd 2017. The financial services industry is undergoing tremendous change, driven by technology advances such as Internet of Things, cloud computing, cognitive solutions, social, mobile and Big Data. FinLeap is a FinTech company builder based in Berlin that takes advantage of these new digital opportunities to reshape the financial industry. Their mission is to build interconnected and flexible ecosystems that generate real impact by delivering a better customer experience, improving operations and innovating product propositions to match customer needs. Combining entrepreneurial execution, technological capabilities, and industry expertise, FinLeap creates the perfect mix to develop companies that bring change to the industry.
“We chose TIA as our partner because of their flexible approach to implementation and collaboration, and because they offer open access to a product roadmap that can shape technology architecture for the future,” Henning Groß, CTO at Element
Now FinLeap is making a further commitment to reshape insurance with a new venture, Element, that has applied to BaFin for a risk carrier license to become a digital insurance platform. Element has engaged in a partnership with TIA Technology, provider of Europe’s leading core insurance software platform. The TIA platform speeds up time to market and enables Element to focus on engineering the components of the insurance value chain that define the venture’s USPs. At the same time, TIA lets Element reuse established functional tools for regulatory and financial processes, and integrate into established distribution channels without reinventing the wheel. Using TIA as its base software layer, Element plans to bring innovative insurance value propositions to the market, and support an omni-channel customer experience with end-to-end process support and full automation. Element will also rely on TIA’s industry expertise to help support the venture’s ramp-up from scratch.
“We chose TIA as our partner because of their flexible approach to implementation and collaboration, and because they offer open access to a product roadmap that can shape technology architecture for the future,” says Henning Groß, CTO at Element. “With TIA, we are equipped with the right technological foundation to build up an insurance product engine and a strong integration ecosystem for this industry.”
“We are proud to collaborate with an innovative venture startup company like FinLeap,” Carsten Vraa-Jensen, Senior VP Commercial, TIA Technology
“We are proud to collaborate with an innovative venture startup company like FinLeap,” says Carsten Vraa-Jensen, Senior VP Commercial, TIA Technology. “It’s exciting to be chosen as a strategic technology platform for FinLeap’s digital initiatives, and we look forward to playing an active role in the new market dynamics which are forming right now, across Europe and beyond.”
FinLeap was founded in the summer of 2014 by HitFox Group and Ramin Niroumand as a company builder specialized in Fintechs. FinLeap serially develops Fintech companies, supporting them with strong infrastructure and guiding their growth. Besides Element, eleven other ventures have been brought to market providing services for private and corporate clients. The FinLeap ecosystem includes, for instance, FinReach, which offers among others a solution for switching bank accounts; PAIR Finance, a solution for digital debt management; Clark, a digital insurance broker; and solarisBank, a digital platform with a full German banking license. Each venture is based on the solid FinLeap foundation that provides not only seed funding from €0.5 million up to €5 million but also a strong network of investors, an integrated development platform and advice on best practice processes. In addition, the company builder provides contact to experienced businesses, clients and top talents in the industry. FinLeap’s team is made up of over 400 employees from more than 30 countries. The company’s headquarter is located in Berlin.