Private Health Insurance Market Shifts: Ottonova Leads Growth, while Established Players See Mixed Results
Berlin, Germany – New data reveals significant shifts in the German private health insurance (PKV) market for 2023, with digital newcomer Ottonova experiencing the most substantial growth and several established insurers reporting declines in new customer acquisitions.The analysis, published by Versicherungsjournal, highlights a competitive landscape where customary players are facing challenges from innovative disruptors.
twelve of the listed providers saw weaker new business numbers compared to 2023. Signal Iduna experienced the largest drop, losing 1,126 new customers, followed by Huk-Coburg (down 914) and DKV (down 844). However, Debeka and Hansemerkur bucked the trend, gaining nearly 3,850 and 3,550 new customers respectively, with Allianz and Barmenia each adding over 2,000.
Ottonova demonstrated the most dramatic growth, increasing its new entries by 127 percent – from 1,571 in 2022 to 3,571 in 2023.This surge propels the Munich-based company to 15th place in new full insurance entrants, surpassing several traditional health insurers.
“this seems to have finally broken the knot for the digital newcomer, which had extremely difficult times in the first few years and which has also been relying on traditional sales for some time,” commented Surminski, as reported by Versicherungsjournal. The ZfV editor-in-chief further stated, “In just a few years, Ottonova has captured a remarkable share of a competitive market - after many critical comments at the market launch, it is still a success story.”
Other growth winners included DEVK, with a 75 percent increase in new acquisitions, and Süddeutsche Krankenversicherung aG (SDK) and DEVK, both reporting a 25 percent rise. Conversely, State health aid vvag saw a 25 percent decrease in new fully insured individuals (down to 616), while VRK experienced a decline of over 20 percent.
The data underscores a dynamic PKV market where digital innovation and evolving sales strategies are increasingly influential. The Munich Health Insurance Association aG remains a key player, while the performance of established insurers varies significantly.
