Press release

ELEMENT and CPP cooperate on cyber protection

The new "OwlPremium" service protects credit card issuers and customers of credit institutions from financial and image damage caused by identity theft

Berlin, May 8, 2018: ELEMENT, the technology platform with a BaFin license for property, liability and accident insurance, and CPP, one of the first providers of smart services, have entered into a cooperation agreement. ELEMENT extends the identity theft protection Owl of CPP with cyber insurance, which effectively covers financial damages through digital data theft. The first result of the cooperation is "OwlPremium", which will be available this month for CPP business partners in the financial services industry.

OwlPremium offers credit institutions and credit card issuers added value for their customers. The OwlPremium product allows bank customers and credit card holders to protect themselves from the financial and reputation damage caused by digital identity theft and avoid the costs associated with data misuse. Companies that include the service in their portfolio and offer it to their customers as an additional service, not only address current consumer needs, but also present themselves as on the forefront of digital technologies. OwlPremium helps reduce damage to internet users from data theft and reduce the bank's own expenses for the settlement of misused credit cards.

The service stores data only within the European Union, has the highest security standards through PCI certification and 2-factor authentication and includes TÜV-certified comprehensive and quick support in the event of data theft and misuse.

Sören Timm, Managing Director of CPP Germany, is pleased about the cooperation with ELEMENT: "With Owl we offer a unique service for modern digital identity protection. Owl is now responsible for prevention and ELEMENT for claims management. Together we launch a holistic and highly innovative identity theft protection system for our bank customers".

Richard Hector, CSO at ELEMENT, comments on the cooperation: "Our tailor-made service is in line with the growing need for security among consumers whose lives are increasingly digital. With our platform we can design an individual insurance product in the shortest possible time, integrate this seamlessly into existing product and service providers, such as Owl, and guarantee the customer digital claims settlement.

To the background:

Eight out of ten Germans are now online[1] and almost as many want to protect their personal data better. [2] More than one in two fears becoming the victim of identity theft,[3] and only 42 percent feel sufficiently protected.[4]

That's how Owl works:

Owl is designed to meet customer needs for greater control over personal information. An initial check is carried out to determine whether previously named personal data of Owl customers has been traded on the Darknet within the past six years. Owl searches the illegal trading places of the Darknet for the data of Owl customers around the clock. If there is a risk of compromised data, the integrated digital alarm system warns the customer immediately by e-mail and SMS. If an alarm is triggered, the Owl customer receives a plan with immediate measures that can be implemented quickly and easily. Alternatively, the TÜV-approved German-speaking Service Center is available for support at any time. Owl sends a monthly report on the current security status of the customer.

This is OwlPremium:

The Owl Cyber insurance covers damage caused by cybercrime to online customer accounts, online banking, credit, bank and other debit cards with up to €15,000 coverage. Among other things, it covers the costs arising from identity abuse, such as expenses for a lawyer, any costs incurred by the authorities and, where applicable, lost working hours. Also included in the insurance benefit is the loss of up to €3,000 as a result of identity fraud in Internet purchases and sales. If access to credit is not possible due to identity theft, the victim receives a bridging allowance of €1,500 and also a payment of up to €2,000 for data recovery after a hacker attack.


ELEMENT is the first technology company with an insurance license from BaFin for property and casualty insurance. It was founded in March 2017 and offers a unique technology platform ("Insurance-as-a-platform") with a pure B2B focus: For its partners from various industries, from e-commerce to classic insurers, ELEMENT develops individual and tailor-made insurance products for the respective end customers. ELEMENT thus offers its partners modular and innovative insurance products - digital and in the shortest possible time - and is a pioneer in the field of insurance digitisation. The company, which operates throughout Europe, is based in Berlin.


CPP Creating Profitable Partnerships GmbH was founded in 1991, employs around 70 people and is based in Hamburg. CPP Germany is part of the global CPP Group with 635 employees and 5.5 million customers. The company is represented in eleven countries in Europe, Latin America and Asia and has cooperations with more than 200 business partners worldwide. CPP offers products that help customers protect their identity. Individual service experiences are combined with innovative technology. CPP products and services meet the highest safety standards so that consumers can enjoy a carefree, mobile life. The product portfolio ranges from "Card Protection Premium", which protects against the consequences of wallet theft, to the digital service "Owl", which finds compromised personal customer data on the Darknet. This makes CPP one of the first providers of SmartServices.


Ina Froehner

Head of Communications


Mobile: +4915128963679


Judith Buhr

Client Director

Phone: +49 40 76 99 67 126

[1]D21-Digital-Index, 2017/2018

[2]TNS Studie, European Commission, 2017 

[3]TNS Studie, European Commission, 2018

[4]Mindline Studie, CPP, 2016 

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