Huk24 board member Stuhldreier: “We grow even without Check24”

Uwe Stuhldreier, board member of Huk24. Source: Huk

The changing season in the motor vehicle business is in full swing. Huk24 board member explains which growth opportunities the insurers see in motor insurance and which role the comparison portals play in this Uwe Stuhldreier in an exclusive interview with Insurance industry.

VWtoday: November is a critical month for success in motor insurance. What are your most important highlights this year?

Uwe Stuhldreier: We are digital pioneers and by far Germany’s largest direct insurer in motor vehicle insurance. The last few months have also shown that Huk24 is particularly benefiting from the digitization boost caused by Corona. We are therefore very relaxed about the New Year business. We know our strengths and will continue to position ourselves very well in terms of tariffs and, above all, as a fair partner to customers in the switching business.

VWtoday: The changing season also means competition, keyword Huk against Check24. How do you feel about the comparison portal?

Uwe Stuhldreier: Check24 has a more than respectable business model with clear customer benefits. We are growing even without Check24, we have a very strong online brand and the direct deal on our website is our heart. The commissions that we also save can be passed on to our customers in cheaper tariffs.

VWheute: How can Huk24 stand up to the “superior sales force” Check24?

Uwe Stuhldreier: Quite simply: the customers know and trust us. We are the largest digital insurer in Germany and have a strong brand. That has been convincing for 20 years. As I said, the positive development of Huk24 during the Corona period confirms us.

„Every business model has to be renewed and developed continuously at all times. With the digital speed also in ever shorter cycles. We have the vision – to be there for our customers in a fully digital and automated manner in order to make the insurance business as simple and transparent as possible for them – just as they know it from other industries.„

Uwe Stuhldreier, board member of Huk24

VWheute: As you can see, the automotive business is highly competitive. New providers from the insurtech world are attacking, Amazon & Co. are in the starting blocks. How do you rate such competitive risks?

Uwe Stuhldreier: We take these developments very seriously. But it cannot be overlooked that some providers have already disappeared from the market. The development of the tech giants, which have the lead in all technological and digital organizational aspects, is also exciting and critical. The question, however, is whether they also want to manage insurance risks and include them in their books.

VWtoday: An unavoidable question at the end: What role does the Corona factor play in the 2020 changing season?

Uwe Stuhldreier: Traffic was reduced during the lockdown and the loss frequencies decreased. We therefore announced a possible premium refund to our customers in the spring if the claims experience remained positive until the end of 2020. However, this has not to do directly with the changing season, but has effects, so that the industry can assume a good year in the K business for 2020 due to Corona. We assume that competition will intensify this autumn and have positioned ourselves accordingly in terms of prices. This will make the current year a special one.

The questions asked VW today-Editor in chief Michael Stanczyk.

You can read the full interview in the current November issue of Insurance industry.

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