Hesse Digital

Über uns - Hesse Digital Insurance

Licene in Lienchestein

Focused on embedded insurance ( Residial value Insurance)

Hesse risk is mainly bad market conditions of the used car market:

example 2015 BNS stopped backing the CHF, currency dropped, new cars were offering -25% price discounts,used car value dropped sinifcantly, it took 6 moths the market to correct.

CEO started working for Helvetia

• Experience in consumer goods
• Automotive
  • parnership with Tesla
  • 10m€ first year
  • 200m€ last year
  • left because of tech legacy
  • focused on a data model
    • e.g. allocate premium to the finest level even defining the capital share.
    • 50% purchase rate ( Volvo)
    • recent parnership with carvolution to diversify car exposure.
    • gembra / bank now (subsidiary of UBS)
  • Work for external data providers to validate the residual value. ( eurotax, DAV)
  • Value is remarleted through the Anonymous binder
  • 3 lines of defenses.
  • average loss 2k€ for per claim

• • EV: amortizatio curve is steeper because of the devaluation of the battery.
  • Upside if the dealer cedes the vehicle to hesse and Hesse sells it for a higher value than the residual value. not known by the regulator.

Projection

• 16M€ 2024
• 24M€ 2025

Setup will be most likely a FAC agreeemnt. per risk.

Other opportunitiies for Greece Market:

• Contingency.