The Munich-based startup Verde aims to supply the German insurance market with sustainable, socially responsible property insurance. The idea is the brainchild of Verde founder Marie-Luise Meinhold. The 49-year-old biologist and economist describes herself as Germany's first woman to found an insurance company. An interview.
Munich Startup: Who are you and what do you do? Please briefly introduce yourself and your product!
Marie-Luise Meinhold, Green: We are founding Germany's first sustainable property insurance company: Verde. With this, we want to demonstrate that the financial sector can function differently – cooperatively, fairly, socially, sustainably, and oriented toward the common good. Verde Insurance is currently still in its development phase. To make a contribution, we already offer the 'Verde Check', which arranges appointments with independent and ecologically-social financial advisors, and the 'Verde Bike', which offers sustainable theft protection.
Verde: A public welfare-oriented insurance
Munich Startup: But that's been around for a long time!
Marie-Luise Meinhold: Insurance? Yes. Sustainable? Well, yes. 68 billion euros flow annually into household contents, liability, and other insurance premiums—our property insurance premiums. Insurance companies invest this money to generate profits. Transparency and morality are subordinated to returns, and the social and ecological impact of investments is ignored. Yet the impact is very important: Today's investments determine tomorrow's future.
And we won't go along with that. At Verde, we strictly adhere to transparency and sustainability. This applies to our company, our products, and—and this is important—our Verde investments. We carefully examine the impact of our investments and which companies or projects they support. We disclose all of our investments. And how do we guarantee that this remains the case? Through our cooperative, of course.
Many people do not associate money with sustainability
Munich Startup: What has been your biggest challenge so far?
Marie-Luise Meinhold: Simple: Our biggest challenge is that many people don't associate money with sustainability. The topic of insurance doesn't resonate much better with people. We want to change that! Because positive money means positive investments, for example in renewable energy, organic farming, the expansion of public transport, or social housing. And we need that! As we said: today's investments determine tomorrow's future.
Munich Startup: Let’s get to the point: How is business going?
Marie-Luise Meinhold: We have so far invested in the development of Verde Aktiengesellschaft, the Verde Genossenschaft (Verde Cooperative), and the first products. Through appointment scheduling, we have already forwarded many booking requests to independent, sustainable financial advisors. The cooperative has 77 members, and our theft protection is about to launch. Furthermore, we have invested more than one million euros with our capital investment, achieving this impact:
- 1,070 tons of CO2 saved
- 29 jobs created
- 14 supported farmers in areas of Africa
- 12,000 people supplied with electricity in parts of Africa
Now that everything is in place, we want to grow! We look forward to welcoming more customers, members, and soon, subscribers to our profit participation rights. Then we'll also be able to offer more fair and sustainable financial products.
Well located in Germany's financial center
Munich Startup: What does Munich mean to you?
Marie-Luise Meinhold: Munich is Germany's financial center. When it comes to investments, probably 3 trillion euros are managed here. We want to trade here. And the team is from Munich. That's another reason, of course.
Munich Startup: How can your startup become the next unicorn? Or will we see you soon at Epic Fail Night?
Marie-Luise Meinhold: Definitely a unicorn! We have 77 members and a small, select crowd, and we're expanding it. With Verde Bike—our first insurance product—we're demonstrating what's possible with ecological and social insurance in terms of sustainability and performance. From the capital investment to the bike providers to our team. For example, our customers save two kilograms of CO2 with every euro they contribute.
Munich Startup: Early riser or late sleeper?
Marie-Luise Meinhold: When you start an insurance company, you don't have much choice. So, be an early bird for a green financial future.
