Austrians and Germans Ready to Embrace New Insurance Products

New research by Amodo and MindTake reveals a growing interest in modern insurance solutions in Austria and Germany

Today, Amodo is present in almost 50 countries on six continents, but Europe has always been one of our key markets. Our company grew, developed, and perfected its solutions in Austrian and German (AT/DE) markets, which are considered some of the most digitally developed and demanding worldwide. Moreover, some of our key investors come from these countries.

Insurers in Austria and Germany are extremely careful when considering and even more so when implementing each new technology. However, once they decide on something, you can be sure that particular technology has passed the most rigorous test in the European market!

So, no matter what we do and how far the company has reached, we always have one eye on these two markets and their dynamics. This is the main reason why we joined forces with MindTake and conducted extensive research into market potentials for new and innovative car insurance products in Austria and Germany, resulting in some really interesting and valuable findings.

This is our second such survey after 2017, and new data suggest a systematic year-to-year growth of interest in advanced, app-based insurance solutions. Results showed that in the period of five years, the percentage of German respondents who are ready to use smartphone telematics grew by approximately 15 points. The conducted research gave us also insights into the key reasons for choosing modern solutions like ours, with the cost control, flexibility, and savings being at the very top. For example, cost control is the most important for the majority of German responders (54%), while most Austrians (59%) emphasize flexibility. 

Amodo has been present on the AT/DE markets from 2016, working on telematics projects for renowned clients such as Porsche, UNIQA, TÜV Rheinland, Deutsche Telekom, Telekom Austria Group, and Compensa VIG. For example, with Porsche, we cooperated on launching the innovative Smart Driver solution for the Austrian market, powered by Amodo's Pay How You Drive (PHYD) technology, enabling insurance companies to reward safe drivers by getting valuable insights into their driving performance.

Follow our website and social media channels for further updates and fascinating data from the AT/DE research!

About Amodo  
Amodo is an insurtech company on a mission to disrupt the insurance industry. By turning users' smartphones into powerful telematics sensors, Amodo Connected Insurance Platform enables insurers to deliver tailor-made products by gathering and contextualizing behavioral data. Over the past nine years, Amodo launched close to 50 different Connected Insurance Products worldwide, with some of the leading companies such as AIG, Porsche Insurance, UNIQA, and many others. Amodo was named by Financial Times as one of the top 5 Insurtech companies globally, is a winner of a prestigious Digital Insurance Agenda Diamond Award in 2020, and has been named by Frost and Sullivan as the Best Practice Leader in the Usage-Based Insurance market in 2021

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