NOVECO

What NOVECO does

NOVECO Norddeutsches Versicherungs- und Finanzcontor GmbH is a privately held German independent insurance broker and financial services advisor headquartered in Herzberg am Harz, with a branch office in Hildesheim. Founded in 1994 by Andreas Lüers and Volker Mutz and operating under the NOVECO brand since 2004, the firm holds three German trade-law intermediary licenses (§34d, §34f, §34i GewO) that authorize it to broker insurance, distribute financial investment products, and arrange real estate loans as a legally independent Versicherungsmakler. Its service portfolio spans private insurance, business insurance primarily for SMEs in trade, craft, and manufacturing, company pension schemes (bAV), entrepreneur and private retirement planning, real estate financing, and installment loans. A niche specialty provides specialized insurance tariffs for athletes, addressing coverage gaps in standard policies.

The firm operates a small team of approximately nine people organized across two offices (Herzberg and Hildesheim) and supports client engagement with the proprietary simplr smartphone app — a digital insurance folder that lets clients manage policies, document claims, upload documents, and contact their advisor. The core technology footprint is light: a Jimdo-hosted company website, embedded online calculators, and integration with two external platforms — EUROPACE (enabling simultaneous real estate financing inquiries to 50+ banks and insurers) and finanzcheckPRO (for installment loan comparisons). Distribution is sales-led and relationship-driven, combining in-person advisory across northern Germany with self-service digital tools, employee referrals from corporate bAV clients, and content marketing through the company website and social media.

NOVECO earns revenue through commissions paid by insurance carriers and financial product providers for policies and products placed; no fees are charged directly to clients, and the simplr app is offered free of charge. Customer segments include enterprise bAV clients (e.g., akkuteam, Stahl Cranes, Kuhlmann CNC), private individuals and families, entrepreneurs and business owners, and athletes. The firm is founder-owned with no external institutional investors, no disclosed funding rounds, and no subsidiaries.

Name

NOVECO

Legal name

NOVECO Norddeutsches Versicherungs- und Finanzcontor GmbH

Website

https://noveco.de

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

NOVECO is a German independent insurance broker and financial advisor, licensed under §34d, §34f, and §34i GewO, serving private individuals, SMEs, entrepreneurs, and athletes across northern Germany with insurance brokerage, retirement planning, and lending services via commission-based advisory.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Finance and Insurance (52)

SIC

Insurance Agents, Brokers & Service (6411), Finance Services (6199)

akta.pro primary industry

Retirement Income Planning & Decumulation Advisory (FSAEABAD)

Keywords

• Insurance brokerage services
• Company pension schemes
• Private retirement planning
• Real estate financing
• Athlete insurance solutions

Headquarters

HQ city

Herzberg Am Harz

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: NOVECO acts as an independent insurance broker (Versicherungsmakler) and receives commissions from insurance companies for placing policies with clients. The company is not tied to any single insurer, allowing objective product selection on behalf of clients.
2. Financial Product Distribution Commissions: As a licensed financial instruments distributor (Finanzanlagenvermittler) and real estate loan intermediary (Immobiliardarlehensvermittler), NOVECO earns commissions on investment products (e.g., retirement savings plans, unit-linked products) and mortgage loans placed through its network of banks and insurance partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

NOVECO is an independent German insurance broker (Versicherungsmakler) and licensed financial investment distributor (Finanzanlagenvermittler) that provides advisory and brokerage services for private clients, businesses, and entrepreneurs. Its core offerings span business and private insurance brokerage, company pension schemes (bAV), private and entrepreneurial retirement planning, real estate and installment financing, and specialized athlete insurance, supported by a proprietary digital insurance folder app (simplr).

Product overview

NOVECO is a German insurance and financial brokerage firm offering a comprehensive suite of advisory and management services. The company operates as an independent Versicherungsmakler (insurance broker) and Finanzanlagenvermittler (financial investment broker). Their core offerings include private and business insurance services, retirement planning (covering company pension schemes, entrepreneur retirement, and private pension products), real estate and installment financing, and a proprietary smartphone app called 'simplr' for digital insurance management. The company serves both private individuals and businesses across northern Germany, with specialized services for athletes and specific industry sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Insurance Brokerage and Advisory Services

Quantifiable outcome

• Approximately 1.5 million sports accidents are reported annually in Germany per GDV (Gesamtverband der Deutschen Versicherungswirtschaft), highlighting the scale of risk and the market need for specialized athlete coverage.
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• finanzcheckPROcoreChannel Partner/ Reseller/ DistributorNOVECO partners with finanzcheckPRO to provide customers with access to the best financing conditions for installment loans (Ratenkredit) and personal loans. finanzcheckPRO serves as the underlying comparison and distribution platform for these loan products, enabling NOVECO to offer competitive rates to its clients.
• EUROPACEcoreChannel Partner/ Reseller/ DistributorNOVECO uses EUROPACE — Europe's leading online financing platform — to simultaneously submit real estate financing inquiries to more than 50 banks and insurance companies on behalf of clients. This platform enables NOVECO to identify and present the best mortgage and property financing terms from the broadest possible range of providers.
• Sandra Rowold (Bauspar- und Finanzfachfrau)minorChannel Partner/ Reseller/ DistributorSandra Rowold is a cooperative partner (Kooperationspartnerin) of NOVECO, specializing in building society savings (Bauspar) and financial advisory services. She serves as a contact point for clients seeking building society and related financial products offered through NOVECO.
• Insurance Companies (Multiple Providers)coreChannel Partner/ Reseller/ DistributorAs an independent insurance broker (Versicherungsmakler), NOVECO works with multiple insurance companies simultaneously. A list of partner insurers is available as a downloadable document on the company website. This multi-insurer model allows NOVECO to select the optimal product for each client's specific needs.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• Check24 Vergleichsportal: Germany's leading digital comparison platform for insurance, banking, and financing products. Represents the digital disruption vector that traditional brokers like NOVECO must compete against; offers a partial overlap with NOVECO's mortgage and insurance brokerage offerings.
• Clark Germany GmbH: Digital insurance manager (app-based) that aggregates and advises on existing policies. Overlaps with NOVECO's simplr app concept and represents the digital-first competitive alternative for personal lines.
• Verivox GmbH: Major German online comparison portal for energy, insurance, telecommunications, and finance. Competes with traditional brokers in commoditized insurance categories where comparison tools are displacing advisors.

Direct peers

• MLP SE: Germany's largest independent financial advisory and brokerage group, offering insurance, investment, and financing products to private and corporate clients. Highly comparable multi-product advisory model with similar independent-broker positioning.
• Deutsche Vermögensberatung (DVAG): Large Germany-wide network of independent financial advisors offering insurance, retirement, and financing products. Same regulatory regime (§34d/f/i GewO) and similar product breadth.
• A.S.I. Wirtschaftsberatung AG: Independent financial advisory firm in Germany focused on insurance, investment, and financing products for private and corporate clients. Closely mirrors NOVECO's whole-of-market advisory positioning and target segments.
• Dr. Klein Privatkunden AG: Independent German broker for insurance, mortgages, and personal finance. Comparable in scope and product mix, though typically larger and broader in geographic reach.

Broad incumbents

• CosmosDirekt: One of Germany's largest direct insurers (Generali subsidiary) selling life, health, and general insurance without intermediaries. Represents the direct-distribution threat to broker intermediation.
• Allianz SE: Global insurance and asset management giant with the largest German retail insurance franchise. Serves both as a key product carrier for NOVECO and a broad incumbent competitor across most of NOVECO's product lines.
• HUK-Coburg: Large German mutual insurance carrier offering a broad product portfolio through direct and broker channels. Serves as both a potential product partner for NOVECO and a direct competitor through its direct-distribution model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/novecodeutschland
• LinkedInlinkedin.com/company/noveco-norddeutsches-versicherungs--und-finanzcontor-gmbh-versicherungsmaklerei

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 NOVECO