Episode #75
The Insurance Couch Podcast - When customers live in one country and risks in another
Get Your Insurance Fix on “The Insurance Couch” Podcast! Join Oliver Lang , former CEO of InsurTech Unicorn Wefox/One Insurance, supervisory board member and advisor and Nikolaus Sühr, Co-Founder and CEO of InsurTech enabler KASKO as they bring you unique insights from their experiences in the insurance world. In this episode, they speak about the opportunities and challenges of serving diaspora communities with cross-border insurance solutions. They explore why customers want insurance advice in their country of residence, while insurance cover must be arranged in the country where their property is located, and the regulatory and operational complexities involved in making this possible. Here are the key takeaways: Corporate brokers can insure assets in multiple countries because they have the required licences or local partners. For retail customers, insuring property in another country is far more challenging, as most brokers only operate in their home market. This makes private property owners with assets abroad an attractive niche for insurers and brokers. These customers want insurance advice in their country of residence, while the insurance cover must be provided in the country where the property is located. Serving this market requires local licences or trusted insurance partners in both countries. The set-up is complex, but once established it can create a loyal and profitable customer base. Listen to “The Insurance Couch” to stay tuned for the newest chatter about the industry!
