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Dentons Advises UNIQA Group InsurTech on Digital Entrance into German Market

Dentons Advises UNIQA Group InsurTech on Digital Entrance into German Market

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Dentons has assisted the Austrian insurance group UNIQA and CherryHUB, its Hungarian InsurTech subsidiary, enter the German market. 

According to Dentons, “Since May 2020, UNIQA and CherryHUB have introduced five products under the branding Cherrisk, offering customers in Germany access to innovative home and contents, accident and travel insurance products."

According to Dentons, "Cherrisk is offered through a digital distribution model that is directly accessible, targeting a young and digitally versatile user group. Cherrisk's 24/7 accessible and user-friendly online portal, coupled with the ability of customers to report claims via video calls, introduces an innovatively [sic] different approach when compared to traditional insurance products available on the German market.” Dentons adds that the “Cherrisk brand name is derived from the concepts of charity, risk-sharing, and the company’s bonus system called Cherries. As part of its entry into the German market, Cherrisk launched a dedicated lifestyle app: Cherrisk Go.”

Dentons’ team included Partners Kai Goretzky, Michael Huertas, Michael Graf, and Constantin Rehaag, Counsel Marcus Seiboth, Senior Associate Michael Shutz, and Associates Catharina von Berg and Sebastian von Haldenwang.

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Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

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The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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