What Friendsurance does

Friendsurance, operating as Alecto GmbH (Berlin, founded 2010), is a licensed German insurance broker (Versicherungsmakler under §34d GewO) that built the world's first peer-to-peer (P2P) insurance model. The platform groups policyholders into small risk pools; unused group funds are rebated annually as a Schadensfrei-Bonus to claim-free members, while a stop-loss module (Ausfallversicherung) protects the pool from depletion. The core technology stack combines a digital brokerage platform with electronic signatures (introduced 2013), Franke und Bornberg tariff comparison, SCHUFA-based identity verification, and a customer dashboard (Mein Friendsurance) for policy and group management. The product portfolio spans consumer P&C lines (Haftpflicht, Hausrat, Rechtsschutz, Kfz, Berufsunfähigkeit), a full device-insurance vertical (Handyversicherung, iPhone, Tablet, Laptop, TV, Camera, Smartwatch) underwritten by Assurant and Barmenia, and a B2B Digital Bancassurance Platform (friendsurancebusiness.com) white-labeling digital insurance distribution for banks and incumbent insurers including Deutsche Bank and Allianz since 2017.

Revenue mechanics operate on three streams: (1) recurring brokerage commissions from insurance underwriters on consumer policies (new sales and renewals), (2) licensing/API revenue from bancassurance partners, and (3) commission-based device-insurance premiums collected annually with daily cancellation flexibility. Go-to-market is hybrid — direct-to-consumer via friendsurance.de with self-service online onboarding, plus enterprise field sales to banks and insurers in the DACH region. The company employs approximately 100 people, advises roughly 150,000 customers, and operates a wholly-owned insurance-agent subsidiary, Megara GmbH. Recent capital is revenue-based financing from Round2 Capital (July 2025) earmarked for DACH bancassurance expansion, following a 2016 $15.3M equity round led by Horizons Ventures with Headline.

Name

Friendsurance

Legal name

Alecto GmbH

Website

https://friendsurance.de

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Friendsurance (Alecto GmbH, Berlin, est. 2010) is a licensed German insurance broker operating the world's first peer-to-peer insurance model, distributing consumer P&C and device insurance to ~150,000 customers and white-labeling digital bancassurance platforms for banks and insurers including Deutsche Bank and Allianz.

Ownership category

akta.pro rank

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: Friendsurance operates as a licensed insurance broker (Versicherungsmakler) under §34d GewO. The company receives commissions from insurance companies when customers purchase policies through the platform. Commissions are earned both on new policy sales and renewals.
2. B2B Digital Bancassurance Services: Revenue generated from partnerships with banks and insurers for digital insurance distribution. The company provides technology and platform solutions to enable banks like Deutsche Bank and insurers like Allianz to offer digital insurance products to their customers.
3. Device Insurance Premium Revenue: Revenue from sales of device insurance products (handyversicherung, electronics insurance) where Friendsurance acts as intermediary. Premiums are collected annually and the company earns commissions from insurance partners Assurant and Barmenia.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Friendsurance is a licensed German online insurance broker (Versicherungsmakler) that operates the world's first peer-to-peer insurance model, where customers form small mutual-assistance groups and receive cash-back bonuses when they remain claim-free during a policy year. It distributes consumer insurance products across device protection (mobile, iPhone, tablet, laptop, TV, camera, smartwatch), liability, household contents, legal expenses, motor, and disability, and additionally offers a B2B Digital Bancassurance platform that enables European banks and insurers such as Deutsche Bank and Allianz to sell digital insurance through white-label or API integrations.

Product overview

Friendsurance operates a multi-product insurance platform combining consumer-facing insurance brokerage with an innovative peer-to-peer insurance model. The core offering includes: (1) the P2P Insurance Platform featuring the Schadensfrei-Bonus (claim-free bonus) where policyholders form mutual assistance groups and receive bonus payouts when no claims are filed; (2) a comprehensive range of consumer insurance products including device insurance (Handyversicherung, iPhone, Tablet/iPad, Laptop, TV, Camera, Smartwatch) and traditional insurance (Liability, Home Contents, Legal Expenses, Motor); and (3) the Digital Bancassurance Platform (friendsurancebusiness.com) - a B2B offering for banks and insurers to digitize insurance distribution. The ecosystem includes supporting modules: Beistandsvereinbarung (mutual assistance agreement) enabling P2P support between users, and Ausfallversicherung (default/stop-loss insurance) protecting the group pool. The company also offers Electronic Signature capability for digital document signing. The platform is operated by Alecto GmbH and Megara GmbH, serving approximately 150,000 customers with 100 employees.

Differentiator

Problem solved

Functional benefit

Brands

• Digital Bancassurance: Digital insurance services platform for banks and insurers enabling digital insurance distribution and services

Products and services

• Peer-to-Peer Insurance Platform Online insurance brokerage platform featuring the world's first P2P insurance model where customers form small mutual-assistance groups and receive annual cash-back bonuses when no claims are filed during the policy year. Targets individual consumers in Germany seeking liability, household, legal, motor, and device insurance.
• Digital Bancassurance Platform B2B white-label / API platform that enables European banks and insurers to embed digital insurance products into their own distribution channels. Targets enterprise banking and insurance partners, including Deutsche Bank and Allianz.
• Handyversicherung (Mobile Phone Insurance) Mobile device insurance covering display damage, liquid damage, theft, robbery, and burglary with daily cancellation and a Premium tariff without deductible. Targets German consumers purchasing mobile phone protection.
• iPhone Versicherung (iPhone Insurance) iPhone-specific insurance with worldwide protection, Premium tier with no deductible, and coverage for theft, display damage, and liquid damage. Annual pricing tiers range from EUR 83.88 to EUR 119.88 based on device purchase price. Targets iPhone owners in Germany.
• Tablet Versicherung / iPad Versicherung
• Laptop Versicherung (Laptop / PC Insurance)
• TV Versicherung (Television Insurance)
• Kameraversicherung (Camera Insurance)
• Smartwatch Versicherung (Smartwatch Insurance)
• Haftpflichtversicherung (Personal Liability Insurance)
• Hausratversicherung (Home Contents Insurance)
• Rechtsschutzversicherung (Legal Expenses Insurance)
• Kfz-Versicherung (Motor Insurance)
• Berufsunfähigkeitsversicherung (Disability Insurance)

Quantifiable outcome

• Average repair time of 2 business days for device insurance claims
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered major, core and supporting.

• Deutsche BankmajorStrategic or Co-development PartnerSince 2017, Friendsurance has been digitizing insurance business for Deutsche Bank, enabling the bank to offer digital insurance products to its customers through the Friendsurance digital bancassurance platform.
• AllianzmajorStrategic or Co-development PartnerPartnership for digitalization of insurance business since 2017. Allianz works with Friendsurance to modernize insurance distribution and customer experience.
• AssurantcoreChannel Partner/ Reseller/ DistributorInsurance partner providing underwriting for device protection products (Handyversicherung, iPhone Versicherung). Assurant handles claims administration while Friendsurance handles distribution. Partnership restructured as of January 2020.
• BarmeniacoreChannel Partner/ Reseller/ DistributorInsurance partner providing underwriting for device protection products. Barmenia handles claims administration for certain device insurance policies with claims hotline at 0800-098 53 00.
• Hübener Versicherungs-AGsupportingChannel Partner/ Reseller/ DistributorInsurance company that administers the payment processing for P2P group support payments under the Beistandsvereinbarung (mutual support agreement). Acts as trustee for collecting and distributing group support funds.
• Franke und Bornberg GmbHsupportingTechnology or IntegrationProvides tariff database for independent insurance comparison on the Friendsurance platform, enabling customers to compare policies across multiple insurance providers objectively.
• Megara GmbHcoreChannel Partner/ Reseller/ DistributorInsurance representative (Versicherungsvertreter) at Mehringdamm 32, Berlin, acting as multi-agent for various insurance companies. Handles insurance contract administration, premium collection, and claims processing for certain product lines.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lemonade: US-based insurtech using a tech-first, social-good model (Giveback) that is conceptually adjacent to Friendsurance's P2P/bonus mechanic. Both target digitally native consumers with a differentiated claims experience, though Lemonade is publicly listed and operates as a direct carrier while Friendsurance is a broker.
• Getsafe: German digital insurer and broker targeting digitally native consumers with a mobile-first insurance experience. Directly comparable as a Germany-based insurtech serving overlapping consumer segments (household, liability, device) with a similar age and stage profile.
• Clark: Germany-based insurance broker operating a digital platform to help consumers manage and optimize their insurance portfolios. Closely comparable as a digital broker model serving German consumers with multi-carrier insurance products.
• Bought By Many (Many Pets): Originally a UK-based insurtech using group/mutual mechanics to offer specialty insurance, now operating as Many Pets. Conceptually comparable to Friendsurance's P2P group approach, though pivoted to pet insurance as primary vertical.

Broad incumbents

• Friday Insurance (Allianz Direct): Originally an independent German digital insurer (acquired by Allianz) offering direct motor and household insurance. Comparable as a digital-first German competitor serving the same customer base, now backed by the broader Allianz distribution scale.
• Wefox: European insurtech operating across DACH and other markets, connecting insurance carriers, brokers, and consumers digitally. Comparable in business model and DACH focus, though at materially larger scale and broader geographic footprint.
• Check24: Germany's dominant insurance and financial product comparison platform with significant traffic and scale advantages. Competes directly with Friendsurance in the online insurance comparison and brokerage space across multiple product categories.
• Verivox: Major German price comparison platform for insurance, energy, and financial products. Comparable as a scaled insurance comparison and brokerage competitor with established consumer brand and SEO dominance in Germany.
• HUK24: German direct insurer operating as the digital arm of HUK-Coburg, offering motor and household insurance online. Comparable as a German direct-to-consumer insurance competitor with strong consumer brand recognition and lower-cost digital distribution.

Emerging players

• Feather: German insurtech specializing in digital device and gadget insurance. Directly comparable product overlap with Friendsurance's Handyversicherung/Laptop/Tablet insurance line, targeting similar digitally native consumers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/friendsurance
• Xx.com/friendsurance
• LinkedInlinkedin.com/company/2208705

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friendsurance