ARAG SE Insurance Company Expands with Data-Driven Approach

ARAG SE is taking a bold step forward with its data-driven approach, leveraging technology to drive growth and improve customer experience. This strategic move is expected to have a significant impact on the company's future success.

By harnessing the power of data, ARAG SE aims to make more informed decisions and streamline its operations. This approach is already showing promising results, with the company reporting a significant increase in efficiency.

At the heart of ARAG SE's data-driven strategy is a robust analytics platform that provides real-time insights and predictive modeling. This platform is allowing the company to identify trends, optimize processes, and make data-backed decisions.

Here's an interesting read: What Does Arag Legal Insurance Cover

The ARAG Group was founded in 1935 by Heinrich Fassbender as a legal insurance company under the name of Deutsche Auto-Rechtsschutz-AG (DARAG).

Fassbender's founding principle was to make it possible for all citizens to assert their rights, regardless of their financial situation.

The company initially focused on automotive legal insurance, but expanded into other segments of the insurance industry in 1962.

ARAG Group began marketing the business concept of legal insurance in 1962 and entered the life assurance business in 1965.

The company issued its first health insurance policies in 1985, after acquiring other insurance companies in that segment.

The ARAG Allgemeine Versicherungs-AG is a significant part of the company's history. It serves as the group's composite insurer.

This subsidiary offers a wide range of insurance products, including liability insurance, household contents insurance, accident insurance, and accident pension.

Its scope is quite broad, covering over 20 million insured athletes across Europe, making it the continent's largest sports insurer.

The Interlloyd Versicherungs-AG, a daughter company, focuses solely on broker-based distribution.

The ARAG Lebensversicherungs-AG has a rich history that dates back to 1965, when it became a subsidiary of the ARAG.

It was previously known as Gisela Allgemeine Lebensversicherungs- und Aussteuer-Versicherungs-AG until 1981.

In 2016, the ARAG Konzern announced that it would be selling its 92% stake in ARAG Lebensversicherungs-AG to the Frankfurter Leben-Gruppe.

You can visit the ARAG website at www.arag.com for more information.

ARAG Lebensversicherungs-AG offers insurance solutions for professionals who face unique risks in their line of work.

Their services are designed to provide optimal protection for their investments and ensure a comfortable standard of living for themselves and their loved ones.

If you're interested in learning more about their services or exploring alternative insurance options, you can call their free hotline at 0800. 919 0000 or fax them at 0800. 919 6666.

ARAG SE has a complex structure with various entities operating under its umbrella.

The operational management company for the Group is ARAG Allgemeine Rechtsschutz-Versicherungs-AG, which manages the legal insurance business in Germany and abroad.

This entity operates separately from the composite and health insurance lines, which are managed by their own insurance companies.

Paul-Otto Faßbender is the majority shareholder in the ARAG Group and was previously the Chairman of the Management Board, a position he held between 2000 and July 2020.

Renko Dirksen took over as Chairman of the Management Board in July 2020, with Paul-Otto Faßbender now serving as Chairman of the Supervisory Board of ARAG SE.

Matthias Maslaton, Wolfgang Mathmann, Hanno Petersen, Jörg Schwarze, and Werenfried Wendler support Renko Dirksen as Management Board members.

Paul-Otto Faßbender's transition to the Supervisory Board was a result of his election by the ARAG SE Supervisory Board in July 2020.

The dashboard at ARAG SE is already making a significant impact, providing more insight into profit and loss statements (P&L) and full-time equivalents (FTEs). This helps the client quickly understand sales trends among different clienteles and geographies.

The client can now get detailed insights into the performance of specific coverages within their product offerings. This level of detail wasn't possible before, and it's a game-changer for the business.

The Datahub is also servicing internal departments such as Finance and Control, HR, and Sales. Consolidating policy data from various reinsurers into a single data model allows the service center to respond quicker and with increased confidence.

Having all the data in one single source of truth (SSOT) makes a huge difference in the accuracy and reliability of information.