"It's not just about compensating for the destruction caused."
Astra Versicherung, the German insurance company, has announced a significant shift in its product development and expansion strategy. The new focus will be on creating solution-oriented insurance products and adopting multi-channel sales approaches to enhance customer convenience and engagement.
The company's product development strategy will now revolve around the creation of insurance products that cater to the practical needs of the mass market and students, moving away from the traditional model of simply paying customers for damage in the event of a claim. Astra aims to offer real solutions for the problems that come with damage, providing a more proactive approach to insurance.
In terms of multi-channel sales, Astra plans to integrate digital channels extensively to support sales and customer interaction. This includes dedicated apps or platforms that enable customers to purchase, monitor, and adjust policies online, providing fast and convenient service. The company is likely to combine online direct sales with traditional channels to maximize reach and meet diverse customer preferences.
Philipp Langendofer, a member of the board of Astra Versicherung, is leading the charge in this new direction. Langendofer, who joined the company at the age of 31, was previously responsible for Resorts Marketing, Sales, and Product Design. He aims to make Astra's products available through various channels, learn which channels work best, and optimize each sales channel.
Astra originally started as a specialist provider for students and schools. The company's new strategy, therefore, represents a return to its roots, while also embracing the digital age.
The name change from Astra Direct to Astra Versicherung is part of this new direction. The removal of the 'Direct' suffix aims to clarify that Astra is not a direct insurer and reduce the brand to essentials. The new logo design is perceived as more modern by business partners, particularly tied agents, and is intended to appeal particularly to young people and families, reflecting Astra's claim to be digital, young, and refreshingly different.
The goal of this new strategy is to establish Astra as a reliable insurance partner and a trustworthy partner for brokers. The company's focus on solution-oriented products and multi-channel sales approaches is expected to set it apart in the competitive insurance market.
[1] [Source 1] [2] [Source 2]
Astra Versicherung aims to expand its offerings beyond the traditional insurance model, developing solution-oriented products catering to the needs of the mass market and students, including digital channels for direct sales [Source 1]. Additionally, the company plans to integrate technology in finance and business, creating dedicated apps or platforms for online policy management, aiming to establish itself as a trailblazer in the competitive insurance industry [Source 2].
