Reinventing insurance from the ground up


Young insurance customers are poised to become the dominant customer segment by 2020 but 30%+ of these customers have no insurance. They have given up on insurance because it is too complicated and the perceived value too low.


Tryg, one of the largest insurers in Scandinavia, knew that developing a radically different kind of insurance was key to their future success. Launching May 2018, we created an entirely new insurance company in 12 months – rethinking everything from customer interfaces to claims handling and fraud detection.

Cut the crap insurance

We’ve experienced firsthand how dull, complex and demanding insurance has become – Undo aims to change just that. By replacing bureaucratic processes and unnecessary roadblocks with technology and accessibility, we are creating insurance as it should be: simple, personalized, and purely mobile.
Undo is a tech startup doing insurance, not an insurance company doing an app. Everything from buying insurance to making a claim can be completed via the app in minutes. Every insurance policy is 100% tailored for each customer, which Undo is among the first to do in Europe. The personalization is built on algorithms and customer data. The former has been developed in-house at Undo, while the valuable historic data has been provided by Tryg. The customer answers 7 or 8 questions, and AI responds instantly with a tailored package. Undo’s home insurance products cost 20 to 30 percent less than the market average.

When we introduce digital processes in Tryg we do it on top of our core insurance business which has existed for many years. If we try and innovate ourselves, the risk of doing more of the same is too big. That’s why we have partnered with Rainmaking, as they are specialized in crafting digital customer experiences - something that is digital from a-z
Lars Bonde
Group COO, Tryg

Validation and building a new business

During the early phases of the project our team spent hundreds of hours in the field conducting ethnographic and sociological research. We talked to and observed different customers in order to uncover insights about their needs, desires and fears when it comes to insurance. We also spent time with key employees at Tryg getting a detailed understanding of the many aspects of running an insurance company.

These insights led to a number of different solutions (angles) to approach the problem. We tested and prototyped the possible solutions with potential consumers, deploying a fast tempo “test-learn-adapt” cycle to drive alignment for a Minimum Viable Product (MVP).

Together these insights and experiments confirmed the early customer interest in the novel approach and informed the viability of the business model, strategic relevance, technical feasibility and capital requirements of the venture.

The concept was greenlighted for further investment in the fall of 2017, and a new legal entity was formed – jointly owned by Tryg, Rainmaking and a team of experienced entrepreneurs (several of these transitioning from the Rainmaking venture team).


UNDO launched in Denmark in Maj 2018, and with several destinations across Europe coming up on the roadmap. The product has been well received by the market and early user data clearly confirms the product appeals to young consumers. 90 percent of Undo’s customers are aged between 20 and 35; and 68% percent have never bought insurance for their homes before.

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