Digital Insurance

„Products and services increasingly contain digital value added and are getting "smart" by incorporation into intelligent and networked systems. New business models are arising in the digital environment.“

White Paper "Digital Platforms" of the Federal Ministry
for Economic Affairs and Energy, 03/2017

Together with digital transformation, not only new legal challenges but also new opportunities arise for insurance companies. Digitalisation and optimisation of operational processes, like processing of business transactions and distribution of insurance products, are resulting in more efficiency and are opening new markets.

Likewise, the use and evaluation of personal data enables the development of insurance products tailor-made for specific target groups and a more precise calculation of risks and premiums. Apart from that, new individual products may be created, such as behaviour-related insurance tariffs in the area of personal (life, health and personal accident insurance) and property insurance.

As long-time partner of the insurance industry, we are familiar with developing and examining insurance products of any kind observing supervision law, contract law and data protection law stipulations. We are pleased to assist you from the planning stage until the completion of a project, or to provide our expertise for single or various stages – just as you wish.

As reliable partner of the insurance industry, BLD has been intensively working on all aspects of digitalisation from the beginning, thereby not only building up its own legal and technical expertise but also establishing numerous contacts with specialised experts, fraud experts, PR-consultants and other service providers.

To ensure support for our clients does not stop at national borders, we make use of our international alliance Legalign Global, of which we are a founding member.