Optimizing Motor Claims and Repair Management: Our Investment in Openclaims

We are pleased to lead a €1.75M strategic investment round in Openclaims, with participation from existing shareholders Velocity Capital, Tablomonto, and notable angel investors such as Jeroen Morrenhof, CEO of FRISS. Openclaims is digitizing the insurance, car leasing and automotive industry by transforming their full claims-handling and repair process. Founded in 2015 by Stephan Stergiou and Lex Orie, Openclaims is based in Amsterdam, Netherlands, and has a team of more than 25 FTE with offices in Amsterdam (Netherlands), Copenhagen (Denmark), and Cologne (Germany).

What & Why

The automotive industry, particularly the car leasing and insurance segments, has been grappling with inefficiencies in claims and repair management. A considerable portion of the claim handling process is still conducted manually, with call centers and email being the primary channels for communication between consumers, car leasing companies, insurers and body repair shops. These manual processes frustrate data-driven decision-making and diminish customer experience and hence increase costs. Openclaims resolves these inefficiencies by offering an integrated platform for automating and optimizing claim and repair management. Openclaims serves leading companies across three countries, including industry leaders like Leaseplan, Schadegarant, and Athlon.

Through Openclaims’ platform, stakeholders such as consumers, fleet managers, insurers, and body repair shops can interact and collaborate seamlessly. Openclaims’ solution allocates repairs to the most suitable body repair shops, ensuring quality and reducing environmental footprint while keeping costs at minimum. Openclaims’ customers report lower handling costs, lower repair costs, and higher consumer satisfaction compared to traditional methods.

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Investment Thesis

Openclaims is well positioned to offer a much-needed digital transformation in the car leasing and insurance sectors. Our investment thesis is driven by:

• Value Proposition: Openclaims delivers significant, quantifiable ROI to its customers. The platform's ability to lower both handling and repair costs, and increase the safety of the repair makes it indispensable in an industry where margin pressures are high.

• Product Vision: Openclaims has the opportunity to become a one-stop solution for claims and repair management. The platform is effectively adapting to evolving stakeholder needs and market trends.

• Trends and Opportunities: Several tailwinds favor Openclaims in preserving their market leading status:

        1. The rising complexity and costs of auto repairs, particularly driven by the emergence of electric vehicles.

        2. A growing need for centralized data management across stakeholders.

        3. The increase in leasing over owning, thus increasing the volume of claims.

        4. A greater focus on environmental sustainability, aligning with Openclaims' efficient allocation of repair tasks.

• Traction: The company has combined triple-digit growth rates with profitability and has already a strong foothold in the BeNeLux region, serving several market leaders.

• Team: Stephan and Lex are serial entrepreneurs with previous exits in adjacent industries. Stephan and Lex bring strong strategic capabilities and in-depth industry knowledge.

We want to congratulate Stephan and Lex team on reaching this exciting milestone. We're thrilled about what's ahead of us!

More information about Openclaims can be found on their website: https://openclaims.com/.

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