Berlin Direct Insurance

What Berlin Direct Insurance does

Berlin Direct Insurance (BD24 Berlin Direkt Versicherung AG) is a BaFin-licensed German digital insurer operating as a wholly-owned subsidiary of HanseMerkur, a 150-year-old German insurance group. Founded in 2012 as an online travel insurer, the company has expanded into a multi-line insurer offering travel, dental supplementary, bicycle and e-bike, pet health, cyber, private liability, and parametric insurance products (flight delay and rain). It operates exclusively in the German market and serves individual consumers as well as B2B partners through embedded insurance integrations.

The company's technology stack is built on a proprietary cloud platform that underpins direct online sales, partner onboarding, and parametric insurance operations. Parametric products, launched in 2022 with flight-delay coverage and extended in January 2026 into weather-based rain insurance through Wetterheld, rely on automated data triggers rather than traditional indemnification workflows. The instant-benefit travel protection product launched in October 2024 enables real-time claims compensation, a structural feature enabled by the same platform. Recent certifications include the ntv Seal 2025 and a Stiftung Warentest SEHR GUT rating for dental supplementary insurance (2021).

Berlin Direct generates revenue through recurring insurance premiums charged on a subscription or annual basis, sold via three channels: direct online consumer acquisition, B2B embedded insurance at the point of sale (e.g., Volunteer World, Wetterheld), and third-party platforms such as PAYBACK. Capital strength is high, with reported solvency ratios of 211% (2022), 224% (2023), and 231% (2024). The customer base spans German individual consumers, niche segments such as volunteers, and B2B distribution partners. No disclosed revenue, headcount, or capital figures are available beyond the solvency ratio.

Name

Berlin Direct Insurance

Legal name

BD24 Berlin Direkt Versicherung AG

Website

https://berlin-direktversicherung.de

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

BD24 Berlin Direkt Versicherung AG is a BaFin-licensed German digital insurer offering travel, dental, bicycle, pet, cyber, and parametric insurance products via a proprietary cloud platform, serving German consumers and B2B partners through direct online and embedded point-of-sale channels as a HanseMerkur subsidiary.

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, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance Premiums: Revenue generated from insurance policy premiums across multiple product lines including travel, dental, bicycle, pet, and other insurance products. Premiums are recurring based on policy terms.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

BD24 Berlin Direkt Versicherung AG is a BaFin-licensed digital insurance company that sells multi-line insurance products directly to consumers and through embedded B2B partnerships. Its portfolio spans travel, dental supplementary, bicycle and e-bike, pet (dog and cat surgery/health), cyber, and private liability insurance, plus parametric weather insurance, all transacted on a self-developed cloud platform with paperless processes and real-time claims.

Product overview

Berlin Direkt Versicherung is a digital-first insurance company that offers a portfolio of insurance products through its proprietary cloud platform. The core product lineup includes travel insurance (with sub-products like travel protection packages, instant-benefit travel insurance, parametric rain insurance, travel health, and cancellation insurance), dental supplementary insurance, bicycle/e-bike insurance, dog surgery insurance, cat insurance, cyber insurance, and private liability insurance. All products are offered digitally through the company's own platform, with seamless integration into partner sales processes at the point of sale. The company operates as a subsidiary of HanseMerkur and holds a BaFin license.

Differentiator

Problem solved

Functional benefit

Products and services

• Fahrrad und E-Bike Versicherung (Bicycle and E-Bike Insurance) Insurance coverage for bicycles and electric bikes, protecting against theft, damage, and related risks. Targeted at individual consumers and partners selling bicycles and e-bikes.
• Zahnzusatzversicherung (Dental Supplementary Insurance) Supplementary dental insurance covering costs not included in standard statutory health insurance, including dental treatments, prostheses, and orthodontics. Sold to individual consumers online.
• Reiseschutz / Reiseversicherung (Travel Insurance Product Line) Travel insurance product line including trip protection, medical coverage, cancellation insurance, and parametric delay benefits. Sold to individual consumers and through B2B partners such as Volunteer World.
• Reiseschutz im Paket (Travel Protection Bundle) Bundle travel protection package combining multiple coverage types (cancellation, health, assistance) in a single product for travelers.
• Reisekomplettschutz inkl. Sofortleistung (Complete Travel Protection with Instant Benefits) Complete travel protection with instant benefit payments for flight and baggage delays, featuring real-time parametric-style compensation.
• Wetterheld-Regenversicherung (Wetterheld Parametric Rain Insurance) Parametric rain insurance that provides automatic payouts based on weather data when specified rainfall conditions are met, without a traditional claims process.
• Reise-Krankenversicherung (Travel Health Insurance) Travel health insurance covering medical expenses during trips abroad, registered with the Ombudsmann Private Kranken- und Pflegeversicherung for disputes.
• Reise-Rücktrittsversicherung (Travel Cancellation Insurance) Travel cancellation insurance covering costs if a trip must be cancelled or interrupted, part of the travel insurance line.
• Hunde-OP-Versicherung (Dog Surgery Insurance) Dog surgery insurance covering veterinary operations and many associated costs for canine companions.
• Katzen-OP- und Katzen-Krankenversicherung (Cat Surgery and Cat Health Insurance) Cat surgery and cat health insurance covering veterinary operations and medical treatments for cats.
• Cyberversicherung für Privatkunden (Cyber Insurance for Private Customers) Cyber insurance for private customers protecting against online risks and digital threats.
• Privathaftpflichtversicherung (Private Liability Insurance) Private liability insurance covering personal liability claims for individuals.

Quantifiable outcome

• Fast coverage activation - 2 minutes to be protected
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• WetterheldcoreStrategic or Co-development Partner · 1 January 2026Since January 2026, Berlin Direkt Versicherung serves as the new risk carrier for Wetterheld's established parametric rain insurance. This partnership expands Berlin Direct's portfolio in parametric insurance products, providing automated weather-based coverage that pays out based on predefined weather events without traditional claims processes.
• Volunteer WorldcoreChannel Partner/ Reseller/ Distributor · 9 March 2022Partnership to offer travel protection specifically designed for international volunteers, volunteers, and interns abroad. Insurance coverage tailored to the unique needs of international volunteer programs and cultural exchange participants.
• HanseMerkurcoreOthersParent company and insurance group providing 150 years of insurance heritage, stability, and regulatory backing (BaFin license). Berlin Direct operates as the InsurTech subsidiary of HanseMerkur, combining startup agility with established insurance expertise.
• PAYBACKminorGTM or Marketing PartnerLoyalty program partnership where customers who start their online insurance purchase through the PAYBACK website or app can earn PAYBACK points. Provides additional incentive and customer acquisition channel.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• HUK-COBURG: One of Germany's largest mutual insurers with strong direct-to-consumer digital sales. Comparable as a BaFin-licensed multi-line German insurer competing on price and digital convenience in P&C, liability, and personal lines.
• ADAC Versicherung: Insurance arm of Germany's largest automobile club, offering travel, liability, legal, and specialty coverages. Comparable as a Germany-only, brand-driven multi-line insurer overlapping with Berlin Direkt in travel and liability products.
• ERGO Group: Major German insurance group (Munich Re subsidiary) offering P&C, life, and health. Comparable as a broad-line incumbent competing in the same German market across multiple of Berlin Direkt's product categories.
• Allianz: Germany's largest insurer (part of global Allianz Group) offering P&C, health, and life across all major lines. Comparable as a BaFin-licensed full-line insurance competitor operating across the same German market and many of the same product categories.

Direct peers

• CosmosDirekt: One of Germany's largest direct insurers (part of Generali Deutschland), selling life, health, and P&C products online without agents. Comparable to Berlin Direkt as a Germany-only direct/digital multi-line insurer competing for the same digital-native customer.
• Lemonade: US/European digital-first AI-native insurer using behavioral economics, mobile-first UX, and B2B2C partnerships. Comparable to Berlin Direkt as a tech-forward, digitally-native multi-line insurer pursuing embedded and direct distribution, though operating in different geographies.
• ERGO Direkt: Direct-to-consumer digital arm of Munich Re's ERGO Group in Germany. Comparable as a multi-line insurance carrier using digital direct distribution and BaFin-licensed full insurer model targeting German consumers online.
• CLARK: German digital insurance manager and broker app comparing and bundling insurance products. Comparable as a digital-first insurance intermediary serving the same German consumers seeking simple, app-based insurance experiences.
• Getsafe: German digital-first InsurTech offering mobile-first, embedded insurance products (liability, household, pet, travel). Comparable to Berlin Direkt as a multi-line digital insurer targeting the same German consumer with a similar B2B2C / embedded distribution model.

Emerging players

• Wetterheld: German parametric weather insurance startup whose rain insurance product is now risk-carried by Berlin Direkt (Jan 2026). Comparable as a player in the parametric insurance space and is both a partner and a narrow-category peer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/berlin.direktversicherung
• LinkedInlinkedin.com/company/bd24-berlin-direkt-versicherung-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 Berlin Direct Insurance