Financial expert: Düsseldorf startup Helpcheck wins in court against Nuremberg life insurance

Financial expert: Düsseldorf startup Helpcheck wins in court against Nuremberg life insurance

According to a report by Business Insider, the Düsseldorf startup Helpcheck has won a legal battle against Nuremberger Lebensversicherung. Helpcheck is an online portal that supports customers in reversing their life insurance policies and getting thousands of euros back from the insurance companies. Nuremberger Lebensversicherung sued in 2019 because the startup was not registered as an insurance advisor and therefore did not have the necessary permission for this activity. The Düsseldorf Regional Court had dismissed the lawsuit, and now the Düsseldorf Higher Regional Court has also rejected the Nürnberger Versicherung's appeal.

This decision gives Helpcheck legal certainty and enables the company to provide consumers with an easy way to enforce their rights. Helpcheck supports customers in legally enforcing the revocation of life insurance policies that were taken out between 1994 and 2007 and where the insured were not sufficiently informed about their right of revocation. If the cancellation is successful, a commission of between 30 and 40 percent will be charged.

The Higher Regional Court's decision not only strengthens Helpcheck, but may also have an impact on the market and consumers. On the one hand, consumers who want to revoke their life insurance have another option for support from legal tech companies such as Helpcheck. The successful lawsuit against Nuremberg Life Insurance may also serve as a precedent and prompt other insurance companies to drop similar lawsuits against startup companies.

For the market of legal tech startups, Helpcheck's victory against Nuremberger Lebensversicherung means a strengthening and a signal that their services are legally approved and supported by the courts. This could lead to increased interest from consumers looking to unwind their insurance, thereby further growing the market for legaltech companies.

Overall, Helpcheck's victory is a positive signal for consumers and legaltech companies and may lead to a change in the life insurance market. It will be interesting to see whether other insurance companies drop their lawsuits against legaltech startups and whether Helpcheck's victory further increases demand for life insurance reversals.

Source: According to a report by Business Insider (Link: www.businessinsider.de )