Berlin startup Element

Henning Groß (CTO), Sascha Herwig (Board Member), and Wolff Graulich (Board Member). © Nils Lucas


Delivering Digital Insurance Solutions for our Partners’ Customers

Founded in 2016
25 employees
Funding Undisclosed

Element applied for a P&C insurance license at the end of 2016 in order to become the prime supplier of digital insurance solutions in Germany (and elsewhere). Their solutions are designed to optimise the customer relationships of their partners: insurtechs, e-commerce companies, brokers, other insurers, and the like. Insurance will never be sexy, but in terms of socio-economic value it beats most other industries – and it deserves good players! They contribute to that with a great and diverse team. Website

Interview with Element

What inspired you to found your startup?

We realised that insurtechs and comparable companies lack the insurance carriers where they can plug in their state of the art customer approaches. So like with Solaris Bank in 2016 for the Fintech sector, FinLeap decided to create that tech-savy insurance carrier for the P&C insurance market.

How do you define success for yourself and your company?

We want to be the ones being called upon when modern insurance sales companies need flexible and digital solutions for their clients. We want to help reshaping the image of insurance after the modern customer demand; individual, accessible, convenient. And since insurance operations are costly, we want to establish a healthy >100M revenue business!

Is there anything you’d do differently if you could do it again?

Insurance business takes a while to develop; maybe starting a little earlier!?

What problem does your product solve?

Insurance carriers are built to supply static solutions in huge volumes to conservative sales outlets. We can catalyze the advent of more modern and individual sales approaches, and we can support the classic sales organizations adapting to 21st century customer demands.

Where do you see your company in 1/5/10 years?

In one year we want to reliably serve all verticals, in five years we want to be a profitable going concern insurance company. In ten years we want to be successful all over the place!

How are you different?

We are a tech company with an insurance license. And we know what we are doing in every step of the value chain. Currently, that combination is pretty rare!

How often does your product/service show up in a user’s day or week?

Hopefully as little as possible if that would mean that our customers are suffering severe damages in their lives. But that is what we are there for. Since the insurance market needs “steady” as well as “on demand” solutions – we want to be there when the customer needs us. Not the other way round!

Impact: how are you doing good and building a better future?

Customers are alienated from the insurance concept and products; which is a shame (and the customers are not to blame!). If we and other players can convince consumers that a timely interaction with insurance needs throughout changes in their lives are worthwhile, we will have achieved an important goal.

How has the startup scene in Berlin changed?

With a bunch of insurance people appearing on the scene; considerably! 🙂

What are the pros and cons of launching your startup from Berlin?

Berlin has a huge local network of startup people who do not accept “always did it that way” as an argument. But it is definitely not an insurance hub when you need subject matter experts (and you definitely need those in insurance!).

Bonus Question: Anything else that we need to know about you?

You’ll see; don’t worry!

Element was featured in “The Hundert Vol. 10 – Startups of Berlin“, October 2017.

The picture above was taken at:

A Rooftop in Berlin

No matter the location, viewing Berlin from an altitude is one of the best activities to do when visiting the capital. To see the diversity of the city is a special experience –
from Plattenbau to Prussian decadence, Berlin’s ex-mayor Klaus Wowereit’s motto rings true from almost any vantage point: “Poor but sexy”.

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