Dr. Walter shareholders in the almost completed extension building: Cordula Walter-Bolhöfer, Dr. Hilde Malcomess, Reinhard Bellinghausen, Stefanie Walter und Dr. Christine Walter.

The travel insurance expert decided to found two separate companies. This means that, in addition to the insurance broker itself, there will now also be the DR-WALTER Underwriter. Despite a drop in bookings in the travel industry, the insurance company managed to achieve a higher turnover in the financial year 2016 than the previous year.

Last year, international insurance expert Dr. Walter had a premium turnover of approx. EUR 27 million. This is an increase in turnover of 8 percent, mostly caused by the departments Expatriates and Group Contracts. Each year, Dr. Walter provides insurance coverage for more than 100,000 travelers worldwide during short-term or long-term stays abroad.

Reorganization of corporate structure
Last week’s shareholders’ meeting saw the decision to split Dr. Walter into two separate companies. “With this reorganization, we want to ensure the future-proof legal structure of Dr. Walter and, as a result, pave the way for further growth”, said Reinhard Bellinghausen, Managing Director of Dr. Walter. The decision will be implemented retroactively to 1 January 2017. It is also a reaction of Dr. Walter to a ruling by the Federal Supreme Court stating that claims settlement by insurance brokers is a violation of the German Legal Services Act (RDG).

Insurance broker and underwriter
From now on, there will be a parent company, the DR-WALTER GmbH (Underwriter), as well as a subsidiary, the DR-WALTER Versicherungsmakler GmbH. The underwriter will be responsible for all products developed by Dr. Walter and is allowed to purchase insurance, collect premiums and settle claims on behalf of insurance companies. DR-WALTER Insurance broker will include the three divisions Information and Comparison Portals for International Health Insurance, International Health Insurance for Companies, Organizations and Institutions as well as International Health Insurance for German Citizens and Employees Abroad.

Other new features
Last year, Dr. Walter introduced a couple of new features: All Dr. Walter customers will receive the app MY-SAFETY-ASSISTANT. It provides relevant real-time security alerts, country-specific information and local news for the traveler’s current location.
Further methods of payment have been added to purchase insurance. Dr. Walter won the Star Insurance Provider Award for the fifth time in a row and launched a new comparison tool for trip cancellation insurance at www.reiseruecktritt-vergleich.com. In addition, Dr. Walter celebrated the topping out of its new extension building that had become necessary due to the company’s constant growth.

Company’s outlook
This summer, the new building will open. Dr. Walter is also working on a relaunch of www.reiseversicherung.com. Every year, more than 1 million users visit the successful website to compare and purchase travel insurance online.
What is more, Dr. Walter continually works to improve its customer service even further. There will also be the renewal of its certificate by TÜV Nord in 2017. Last year, more than 60,000 potential customers called Dr. Walter’s service team for personal advice.