Risk management plays a pivotal role in the success of any business, yet for years, mid-sized companies have struggled to access the same financial tools available to larger enterprises. This is where Oliver Hahn comes in. As an expert in captive insurance — a strategy that allows companies to create their own insurance subsidiaries to manage risks — Hahn co-founded Peak Insurance to level the playing field. His approach aims to make risk management tools available to mid-sized businesses, offering them the support traditionally reserved for industry giants.
Introducing Oliver Hahn and Peak Insurance
Oliver Hahn first became involved in startups in 2019 during an internship at Picus Capital, an early-stage venture capital fund with offices in big cities around the world, including Beijing, London, New York, and Munich.
Before this, Hahn worked in strategy consulting at business management firm Bain & Company and in investment banking. After completing his internship at Picus, he joined Finn, which is now Europe’s largest car subscription service.
After leaving Finn, Hahn joined US-based mobility startup Kyte, where he became the Head of Finance. Overseeing risk management and business operations, he helped the company grow from 20 to more than 5,000 vehicles. Hahn was also instrumental in raising over $100 million in equity and $200 million in debt to propel the company’s growth.
As Kyte grew, Hahn looked for new ways to boost the business. Despite Kyte’s risk profile, the company was paying well above market rates. This was a direct result of traditional carriers inaccurately valuing the risks. Hahn addressed the issue by establishing a captive insurance entity for Kyte, which resulted in a 50% decrease in insurance premiums.
Hahn developed a solution to make captive insurance more accessible beyond just large corporations. By enabling businesses to establish their own insurance subsidiaries, Peak Insurance helps companies reduce costs and better manage operational risks.
Captive Insurance: Tackling Industry Challenges
While Kyte’s captive insurance has been successful, initial accessibility was extremely limited. Captive insurance generally reduces premiums, leading to lower commissions, which leads to little incentive for a broker to sell this solution. It’s also worth noting that the setup process for captive insurance isn’t simple. It can be time-consuming and cumbersome to maneuver, especially for inexperienced individuals and businesses.
Typically, when a mid-sized company tries to get captive insurance, they find several barriers to access. Captive insurance has traditionally been out of reach for smaller businesses due to high setup costs, complex administration, and limited access to professional risk management.
How Peak Insurance Reimagines Risk for Medium-Sized Businesses
Hahn believes that medium-sized businesses should leverage alternative risk management and the ability to self-insure one’s company. More than 90% of Fortune 500 companies are actively utilizing captive insurance programs, which showcases the solution’s potential for medium-sized companies.
Hahn aims to simplify the full captive insurance management and setup process with Peak Insurance. Peak Insurance provides a single-layer solution, avoiding the complications that usually put captive insurance out of reach for medium-sized companies.
By extending customized risk management solutions specifically to mid-sized businesses, Peak makes captive insurance more affordable and accessible. Hahn’s approach with Peak gives smaller businesses an opportunity to tailor their risk coverage to their company’s unique operational needs.
Oliver Hahn’s Leadership and Future Vision for Peak Insurance
Peak Insurance has onboarded more than 50,000 vehicles in its first six months of operation and is on course for $15 million in Gross Written Premiums before the end of the year.
All this was achieved without raising any venture capital, and Hahn has big plans for Peak Insurance’s future. His ultimate goal is to make captive insurance solutions accessible across every industry and empower medium-sized enterprises to construct custom insurance programs with maximum productivity and little to no expense or overhead.
The Future of Risk Management for Medium-Sized Businesses
Oliver Hahn and Peak Insurance continue to help medium-sized businesses take complete control of their risk management practices and techniques. Equipping enterprises with tools and expertise that empower them supports companies as they aim to thrive in an increasingly competitive market.
While captive insurance programs may remain a financial tool that’s traditionally reserved for large corporations, Peak aims to change this.
Hahn sees the huge potential of captive insurance beyond Fortune 500 companies and believes Peak will make a long-term impact that changes how businesses of all sizes access risk resources.
Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.
