Market Entry
The German insurance market offers a variety of opportunities for new and existing players and investors. We support our clients (life as well as general insurers) entering the German market in the following areas:
Market know-how
- information about local insurance market (product landscape, product providers, trends, peculiarities, market data)
- competitive environment (e.g. analysis of competitive products and typical product features)
- legal environment, in particular in the context of insurance and consumer rights
- important local accounting aspects and supervisory regime
- taxation and its consequences on product design
Product design
- review regarding compliance with local requirements (regulatory and tax requirements, product ratings and product comparisons)
- pricing und profit testing
- business case and product specifications (development, review)
- product illustrations (design, review, test and test tools, implementation)
Policy literature, sales and further aspects
- policy literature and sales materials: wording; discussion (e.g. with legal consultants); review; competitive analysis
- buildup of sales structure: support with local market know-how; feedback to sales requirements; product discussion with potential sales partners; training/product education
- establishment of local presence: freedom of services vs. freedom of establishment; business case