Expansion of embedded services and insurance in Germany and internationally:
Mehrwerk partners with bolttech.

Mehrwerk and bolttech believe German retail banks have a strong opportunity to differentiate in the market and drive subscription revenues by embedding insurance and services. According to bolttech consumer research, more than 70% of German consumers are interested in receiving insurance coverage and services bundled in their bank accounts, allowing retail banks to charge a premium for their bank account packages. Consumers are particularly attracted by travel insurance – combined with lounge access in case of flight delays, cyber protection, purchase protection and cashback (revenues of affiliate merchants allow to pay back cash to the consumer) as part of their bank account bundle.

With bolttech insurtech expertise and Mehrwerk’s extensive network, with access to over 17 million households and more than 6 million active users per year, the insurance and cashback propositions can be offered in real time and based on real banking transaction data and tailored to actual consumer behaviour. Mehrwerk’s data confirms the benefits for financial services companies: on average, customer satisfaction increases by 450% and churn rates drop by up to 75%, while generating an additional €50 in income per customer per year.

The collaboration will enable both companies to cross-sell complementary products to existing distribution partners, while jointly acquiring new partners by leveraging their combined expertise and market reach. The partners also plan to initially focus the collaboration on Germany with the clear goal to expand into additional markets over time.