Under the umbrella of InsurEvolution Partners, various insurance companiesgrouped. Portfolios and start-ups, some of which we have acquired and taken over in 7 European countries over the past eight years, and some of which we have founded and incubated ourselves. Establishing a group of life insurance companies that is active across Europe, driven by innovation and focused primarily on customer needs is both a mission and a vision for us. Ambidexterity, i.e. the equal coexistence of high-quality support for existing customers and the development of technology-driven, innovative concepts in small, flexible entrepreneurial units, is a core component of our DNA. The fact that we live “entrepreneurship within the company” is shown by our set-up: Swiss Insurevolution Partners is currently divided into six business units led by different, market-specific management teams, each of which represents its own niche of the insurance market and in which we see potential for further development. We are driving the dynamic growth of Swiss Insurevolution Partners in the following Business Units
BUSINESS UNIT RUN-OFF
The PPLI business unit bundles the PPLI life insurance portfolios of Swiss Insurevolution Partners in the company “Youplus Assurance AG” and offers individually tailored life insurance products to residents in the European Economic Area (EEA) and selected other destinations. These Private Placement Life Insurance (PPLI) policies protect assets, provide a highly flexible investment universe, offer – depending on the policyholder’s country of residence – tax advantages and facilitate asset accumulation, benefit (in many cases) from tax advantages and facilitate the transfer of wealth between generations. Our insurance products are tailored to the individual circumstances, requirements and objectives of our discerning clientele, whether in terms of expected returns, risk appetite or legal requirements in their country of residence. Our ability to develop life insurance products that meet the individual needs and wishes of wealthy customers is based on our complete independence as a Group and on the extensive, international network of specialists on which we rely: We cooperate closely with leading European private banks, asset managers, brokers, family offices, tax advisors and lawyers. Our clients trust this network, which has grown over the years, as it can regularly help to integrate our products into our clients’ existing, trusting and evolved business relationships in a way that adds value.
BUSINESS UNIT CENTRAL-EASTERN EUROPE
In the Czech Republic and Slovakia, YOUPLUS Insurance International AG will be the first provider in the entire market to offer its customers the option of taking out life insurance policies entirely digitally and completely paperless from June 2019 and February 2020 respectively: A novel, online-capable software for medical underwriting, the use of an innovative, biometric facial recognition software for customer identification as well as a likewise biometrically supported, electronic customer signature offer our broker partners as well as our customers a unique journey into the future of customer-focused insurance brokerage. Our customers can choose from 43 different risk coverages to put together their individual risk coverage and pension portfolio. In our Central Eastern Europe business unit, priority is given to the coverage of so-called major risks – death, disability, critical illness – supplemented by a broad selection of daily sickness benefits, accident and other supplementary insurance products. The main target group for this uniquely innovative YOUPLUS offering is urban families and households, especially people aged between 25 and 45 with children.
BUSINESS UNIT ADVISORY
In the “Advisory” business unit, Swiss Insurevolution Partners are making a pioneering contribution to establishing the future market with so-called net insurance contracts in Germany. Within the framework of this extremely successful business model, myLife Lebensversicherung AG, Göttingen, is the only life insurer in Germany to offer exclusively net products. Net rates do not contain any acquisition commissions or ongoing commissions to distributors and are – with otherwise identical conditions – significantly more favorable and better performing for customers. Sales are handled by cooperating insurance brokers and consultants, who agree their individual fees separately and on a performance-related basis with the customers they advise. With its clear focus on net insurance, myLife plays an important pioneering role on the way to modern and transparent insurance and pension consulting in Germany. There is full transparency both with regard to the advisor’s remuneration and to the costs included in the products. The product portfolio covers the entire life insurance segment. As both classic and unit-linked tariffs are available, myLife also offers innovative, fairly priced and sustainable products for private and company pension plans.
BUSINESS UNIT D/A/CH
In the “D/A/CH” business unit, Swiss Insurevolution Partners is pursuing the goal of establishing the paperless application and consulting process already used with considerable success in the Czech Republic and Slovakia in Austria, Switzerland and Germany as well. In these very traditional markets, where paper insurance applications continue to define the market standard, the fully digitalized application and advisory process we have developed represents a significant unique selling proposition. The first product we will offer to the D/A/CH region is a unit-linked, tax-privileged life insurance policy, to which we will successively add attractive supplementary insurance solutions (including against occupational disability, accident, or cash benefits in the event of illness). The sales launch in the Austrian market is planned for the 3rd quarter of 2021.
The Nordics business unit is the latest addition to the Swiss Insurevolution Partners family. Founded in 2019 by experienced life insurance experts and IT specialists as a start-up in Norway, Youplus Nordics has all the characteristics and features that represent the self-understanding of Swiss Insurevolution Partners: A maximum level of digitalization, paperlessness, focus on customer needs, flexibility and transparency. Youplus Nordics will start operations in Norway as well in the third quarter of 2021 with four products exclusively dedicated to risk protection – life insurance, disability insurance, dread disease/critical illness protection and a children’s insurance product. Swiss Insurevolution Partners’ plan for the Nordics business unit is to expand into other Scandinavian markets in the foreseeable future.
PANTA RHEI – EVERYTHING IS IN THE FLOW
A key constant in our entrepreneurial activities is continuous development. On the one hand, this applies to the existing business units, where we are constantly critically scrutinizing and optimizing processes, procedures and products. On the other hand, we are always on the lookout for additional interesting niches that we can fill with our business model and in which new business units of Swiss Inwsurevolution Partners can mature. In doing so, we rely on numerous close, strategic partnerships that provide valuable suggestions and ideas, but also very concrete handouts that actively support our drive for innovation, our search for the optimal process in each case and the pursuit of the best possible service. These partners include Hannover Re SE, the world’s third-largest reinsurance company, the global IT service provider Asseco, the University of St. Gallen, the HSG student organization “Esprit”, “The Digital Insurance Group” and many others.