ELEMENT is a German insurtech founded in 2017 that offers cloud-based, white-label non-life insurance products for companies to market under their own brands. The company holds a license from the German Federal Financial Supervisory Authority (BaFin) as a direct insurer for non-life insurance. ELEMENT provides its insurance products as white-label solutions that partner companies sell under their own branding. According to reporting, ELEMENT was initially seeking to raise €100 million. The startup has raised €50 million in the most recent round from Versorgungswerk der Zahnärztekammer Berlin K.d.ö.R. and Alma Mundi. Prior to this round, the company had raised nearly $100 million. ELEMENT is a Berlin-based insurtech founded in 2016 that builds white‑label digital insurance products which partners market under their own brands. The company holds a full insurer license in 28 European countries and can act as risk carrier, covering most of the insurance value chain. ELEMENT has implemented products for over fifteen partners and its fully digital approach enables development of policies for specific target groups in a matter of weeks. Current solutions include Versicherung09 (homeowner’s and liability combo for German football fans with SIGNAL IDUNA), a flight delay policy with FairPlane, cyber insurance, and warranty extensions. ELEMENT raised €23 million in a Series A to strengthen its platform and network. With the new capital it plans to accelerate platform development, automate relevant functions to roll out products faster, expand into new industries, and enter its first international markets in 2019.

Total raised

$80M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2024