Dentons has assisted the Austrian insurance group UNIQA and CherryHUB, its Hungarian InsurTech subsidiary, enter the German market.
According to Dentons, “Since May 2020, UNIQA and CherryHUB have introduced five products under the branding Cherrisk, offering customers in Germany access to innovative home and contents, accident and travel insurance products."
According to Dentons, "Cherrisk is offered through a digital distribution model that is directly accessible, targeting a young and digitally versatile user group. Cherrisk's 24/7 accessible and user-friendly online portal, coupled with the ability of customers to report claims via video calls, introduces an innovatively [sic] different approach when compared to traditional insurance products available on the German market.” Dentons adds that the “Cherrisk brand name is derived from the concepts of charity, risk-sharing, and the company’s bonus system called Cherries. As part of its entry into the German market, Cherrisk launched a dedicated lifestyle app: Cherrisk Go.”
Dentons’ team included Partners Kai Goretzky, Michael Huertas, Michael Graf, and Constantin Rehaag, Counsel Marcus Seiboth, Senior Associate Michael Shutz, and Associates Catharina von Berg and Sebastian von Haldenwang.