Bochumer Versicherungsverein

What Bochumer Versicherungsverein does

Bochumer Versicherungsverein auf Gegenseitigkeit (BVaG) is a BaFin-regulated mutual insurance association founded on February 16, 1968, in Bochum, Germany, specializing exclusively in funeral expense insurance (Sterbegeldversicherung). The company serves individual consumers across Germany with the BVaG Sterbegeldversicherung as its core product, offered in three tariff variants (Classic, Compact, and single-premium Einmalbeitrag) covering sums up to €8,000, extendable to €16,000 via an accident rider, and characterized by no required health examination and a guaranteed 48-hour payout upon death notification. As a Versicherungsverein auf Gegenseitigkeit, the entity is owned by its members rather than shareholders, with all surpluses redistributed to policyholders via periodic bonus increases, free child co-insurance up to age 14, and a guaranteed 1.75% interest rate.

The product suite extends beyond insurance into end-of-life services: a digital Vorsorgeassistent (planning assistant) funnel tool, an online member portal (Mitgliedsbereich), a free Notfallausweis (emergency ID card), a Notfallplan (emergency planning document), and a Vorsorgeratgeber (planning guide). The company has expanded its ecosystem through partnerships with Ninebarc (digital legacy), VfL Bochum 1848 (marketing/visibility), and service partners including a regional law firm, a real estate liquidation firm, and a decluttering service. Distribution combines direct-to-consumer channels (phone, email, online application portal) with a channel-partner network of funeral directors (Partnerbestatter), brokers (Makler), and integrated online calculators deployed on partner websites. The company operates from a single headquarters in Bochum with 11-50 employees and has grown to over 120,000 members through both organic growth and the 2022 and 2023 mergers with Notgemeinschaft Wesel and Beerdigungshilfe Berghofen VVaG.

The business model is straightforward recurring subscription revenue from monthly or single premiums, augmented by reserve investment income. Pricing is positioned as low-cost (starting under €2/month) with no premium increases in the company's history, no health examination, and flexible increments in €500 steps. The marketing mix blends digital (website, Brevo newsletter, Instagram under #alleseinfachgeregelt, Facebook), community engagement (annual Tag der Vorsorge, VfL Bochum stadium marketing), and partner referrals. The September 2025 leadership transition, with Tim Vogel as CEO, signals a strategic pivot toward broader innovation and partnership-led growth.

Name

Bochumer Versicherungsverein

Legal name

Bochumer Versicherungsverein a.G.

Website

https://bv-ag.de

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

11–50 employees

Short description

Bochumer Versicherungsverein (BVaG) is a BaFin-regulated German mutual insurance association, founded 1968 in Bochum, that sells funeral expense insurance (Sterbegeldversicherung) to 120,000+ individual members nationwide through direct, broker, and funeral director channels, with no health exam required and 48-hour payout guarantees.

Ownership category

akta.pro rank

Headquarters

HQ city

Bochum

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Sterbegeldversicherung (Funeral Insurance Premiums): BVaG generates revenue through monthly or one-time insurance premiums paid by members for funeral cost coverage. As a Versicherungsverein auf Gegenseitigkeit (mutual insurance association), all surpluses are returned to members through bonus increases rather than distributed to shareholders.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bochumer Versicherungsverein (BVaG) is a mutual insurance association specializing exclusively in funeral expense insurance (Sterbegeldversicherung). It offers burial cost coverage of up to 8,000 EUR (16,000 EUR with accident rider) to its 120,000+ members, with no health examination required and guaranteed payout to beneficiaries within 48 hours of death notification. The company is structured as a Versicherungsverein auf Gegenseitigkeit, meaning all surpluses are returned to members.

Product overview

Bochumer Versicherungsverein (BVaG) operates exclusively as a burial expense insurance specialist under the legal form of a Versicherungsverein auf Gegenseitigkeit (mutual insurance association). The core product is the BVaG Sterbegeldversicherung (Sterbevorsorge), available in Classic, Compact, and Einmaltarif (single-premium) tariff variants, with coverage sums up to 8,000 EUR (doubling to 16,000 EUR with the accident rider). The product portfolio is supplemented by the Notfallplan (Emergency Plan), Vorsorgeratgeber (Planning Guide), a Partnerbestatter-Netzwerk (partner funeral director network), the Mitgliedsbereich (member portal), a Vorsorgeassistent (planning calculator assistant), a free Notfallausweis (emergency ID card) service, and a Brevo-powered newsletter. The company does not operate a platform-plus-modules architecture; rather, it offers a single core insurance product with a suite of complementary advisory, digital, and administrative services.

Differentiator

Problem solved

Functional benefit

Brands

• BVaG Sterbevorsorge: Primary brand name for the company's burial insurance products and services.

Products and services

• BVaG Sterbegeldversicherung (Sterbevorsorge) Burial expense insurance policy that pays a guaranteed sum (up to 8,000 EUR, or 16,000 EUR with accident rider) to beneficiaries within 48 hours of death, covering funeral and burial costs. Available in Classic, Compact, and Einmalbeitrag tariff variants with flexible coverage sums and no health examination required for enrollment.
• Einmaltarif (Single-Premium Tariff) up to age 85 Single-payment burial insurance tariff option available to applicants up to age 85 without health questions, offering significant discounts (up to 50%) versus regular premiums. Addresses the gap left by the 2004 elimination of statutory funeral benefit, with average funeral costs of 8,000 EUR.

Quantifiable outcome

• Payout within 48 hours of death notification
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• VfL Bochum 1848coreGTM or Marketing Partner · 1 January 2024BVaG is a Business Partner of VfL Bochum 1848 with visibility in the Stadtwerke Bochum LOUNGE at Bundesliga matches. The partnership, established in 2013 and elevated to Business Partner status in 2024, provides brand visibility through TV-relevant video boards during matches. This represents BVaG's key marketing partnership for brand awareness in the Bochum region.
• NinebarccoreStrategic or Co-development PartnerNinebarc is a digital legacy management platform partner helping BVaG customers manage digital assets, passwords, and online accounts for estate planning. The platform allows users to designate heirs and trusted contacts who receive access after death verification.
• SYNBIS.IMMO (Real Estate Partner)minorImplementation/ SI/ Consulting PartnerReal estate partner for customers who need to sell or manage property after death. Provides full-service property management including household liquidation, valuation, marketing, and sales.
• RüempelRitter.deminorImplementation/ SI/ Consulting PartnerProfessional decluttering and household liquidation service partner for customers needing to clear properties after death or entry into care facilities.
• Schwarze, Hanefeld, Dr. Dabag Rechtsanwälte PartGmbBminorImplementation/ SI/ Consulting PartnerLaw firm and notary partner providing legal services for customers, including estate planning, inheritance matters, and notarization services. Located in Bochum.
• Jean-Pascal Lohof ( Rechtsanwalt)minorImplementation/ SI/ Consulting PartnerIndependent attorney partner providing legal services to BVaG customers for inheritance and estate-related matters.
• Partnerbestatter (Funeral Director Network)coreChannel Partner/ Reseller/ DistributorNetwork of funeral homes (Bestatter) who partner with BVaG to offer customers financial protection for funeral arrangements. Partners receive active referrals, marketing materials, joint marketing campaigns, training, and integrated online calculators for their websites.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Allianz Lebensversicherung: Germany's largest life insurer, with funeral expense cover as a small product within its portfolio. Not a niche specialist but competes for the same end-customer funeral pre-planning demand through massive brand and distribution scale.
• R+V Versicherung: Major German mutual insurer (part of the Genossenschaftliche Finanzgruppe) offering Sterbegeldversicherung alongside a wide range of life, health, and property products. Comparable in mutual structure but far broader in scope.
• ERGO Group (Munich Re): One of Germany's largest insurance groups offering life insurance products including funeral cost cover. Comparable in funeral insurance category but with vastly larger scale, multi-channel distribution, and broader product portfolio.
• Signal Iduna Gruppe: German mutual insurance group offering life and funeral expense cover, particularly via craft and trade channels. Comparable mutual structure and funeral insurance offering, but operates across many insurance lines.
• Nürnberger Versicherung: Large German insurance group offering life, health, and accident products including Sterbegeldversicherung. Overlaps with BVaG in funeral insurance but operates across many lines with a broader agent/broker distribution.
• Generali Deutschland: Major German insurance group offering life insurance products including funeral cost coverage. Comparable in funeral insurance category but serves a much broader customer base through multiple distribution channels.
• Hannoversche Lebensversicherung: Established German life insurer offering funeral expense cover as part of its life insurance portfolio. Comparable in product category but with substantially broader scale and national direct-to-consumer distribution.

Direct peers

• Deutsche Familienversicherung (DFV): Frankfurt-based insurer offering supplementary insurance products including funeral expense cover to German families. Comparable in product breadth within complementary insurance, though broader in scope than BVaG.
• IDEAL Lebensversicherung a.G. Berlin-based mutual insurer that historically specialized in Sterbegeldversicherung. Directly comparable as a small, member-owned German funeral insurance specialist competing for the same niche customer segment.
• Versicherer im Raum der Kirchen (VRK): Mutual insurer serving members of Christian churches with life and funeral insurance products. Closely comparable mutual structure and member-owned model, with significant overlap in the German funeral pre-planning market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BochumerVersicherungsverein
• Instagraminstagram.com/bvag_vorsorgehacks
• LinkedInlinkedin.com/company/bvag-vorsorge

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

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 Bochumer Versicherungsverein