Insurtech Radar 2019: Perseus’ business model honored

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Pic Source: Policen Direkt

Perseus’ business model with top rating in the Insurtech Radar 2019 by Oliver Wyman and Policen Direkt.

Following on from 2016 and 2017, this year’s “InsurTech Radar” by Oliver Wyman and Policen Direkt once again presents trends and forecasts in the German InsurTech scene. As in the previous edition, the “From Insured to Protected” business model was highlighted and singled out as particularly lucrative.

This business approach focuses not only on payment in the event of a claim, but also on the security of the insurance customer. This includes risk prevention and damage repair in the event of an emergency – both core disciplines of Perseus. The market potential and chances of success are considered particularly promising in this segment and were awarded full marks.

In Germany, Perseus is the only active company specializing in financial and existential protection for its insurance customers.

What makes Perseus’ business model so special? 

For Perseus, security means more than just firewalls and virus scanners. Perseus offers all-round digital protection with subsequent cost coverage by its own insurance partners. Perseus’ goal is to establish a cybersecurity culture in small and medium-sized enterprises and thus provide lasting protection against IT threats.

To this end, Perseus has developed an employee-centric offering for prevention, defense and financial protection against cyber threats. The Perseus 360° concept includes browser-based employee training, 24/7 cyber emergency assistance, intelligent antivirus software, and a cyber protection policy that covers up to 50,000 euros for immediate technical measures. Perseus thus provides a unique, resource-saving and sustainably effective offering for cyber security and data protection.

Where is the journey heading next?

“We have tripled revenue this year compared to 2018 and have over 1,000 corporate customers on our books. By the end of the year, we want to be in the mid four-digit range here,” said Perseus CEO Richard Renner in an interview with Versicherungsmonitor (de). In addition to expanding its partner business with insurance companies and intermediaries, Perseus is working on the internationalization of its business model and on a whole range of ideas: “It would be negligent to stand still. A guiding theme for us is to keep improving the customer experience,” says Renner.