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Carsten Maschmeyers ALSTIN Capital and Deutsche Rück have invested in Neodigital
The insurance market has an immense need for action regarding the digitalization of business models and operating processes. With market-leading digital processes and an individually configurable insurance toolkit, Neodigital offers the market an Insurance-as-a-Service model that is unmatched in terms of modularity and performance. As an insurer, Neodigital works with a high degree of automation in day-to-day operations and in claims processing. With their digital end-to-end communication, Neodigital is a pioneer in a market that is often solely focused on new business and is an ideal alternative to pure inventory management systems. Market participants can use Neodigital to quickly and easily develop their own completely digitalized insurance products and bring them to market immediately. In order to catch up with the digital backlog, the insurance industry in Germany will be even more dependent on digital as-a-service solutions in the future. The venture capital fund of Carsten Maschmeyer, ALSTIN Capital and Deutsche Rückversicherung AG have therefore invested in the future model of Neodigital.
"We are very pleased that our all-digital approach has not only convinced customers, sales partners and other insurance companies, but that we have also been able to attract new investors to our unique Insurance-as-a-Service model," says Stephen Voss, founder and Chief Marketing and Sales Officer of Neodigital. "The expanded circle of investors confirms the success of our end-to-end digital business model and enables us - just one and a half years after entering the market - to significantly expand our offering".
"The insurance industry is facing the biggest transformation in its history", explains Carsten Maschmeyer, Managing Partner of ALSTIN Capital. "Many insurers are currently under enormous pressure. They have to implement digitalization in their own organization and at the same time customer requests are changing radically. This is what Neodigital supports with its digital insurance factory, whereas it can provide insurers with a ready-to-use digital solution. This allows insurers to focus fully on their core competencies. With ALSTIN Capital, we are involved when Neodigital pushes the digitalization of the insurance industry.”
"Both companies will benefit equally from the new partnership in reinsurance between Neodigital and Deutsche Rück. In addition, we expect the cooperation to lead to a deeper understanding of the opportunities provided by Insurance-as-a-Service offerings from a fully digital insurance company. Convinced by the management and its understanding of the business, it seemed only logical to support our reinsurance partnership with an investment", states Achim Bosch, member of Deutsche Rück's Board of Executive Directors.
Stefan Heilmann, CEO at IEG – Investment Banking Group, states about the transaction: "The financing syndicate with one of the most experienced and influential entrepreneurs and investors in the insurance industry, Carsten Maschmeyer (ALSTIN Capital), combined with the security, strength and experience of reinsurer Deutsche Rück, provides Neodigital with an unique 'Silicon Valley like' shareholder group."
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