CEO Voices – Interview with Michael Knaup, CEO of DEVK

Aug 05, 2026 AI in Insurance, CEO Voices, Cloud, Process Automation

Michael Knaup has been a member of the DEVK Executive Board since 2015 and has served as Chief Executive Officer since 2026. As a Board member, he was responsible for areas including operations, IT, central services and portfolio management.

Knaup completed his vocational training as an insurance specialist at DEVK in the mid-1990s before studying Economics at Cologne University of Applied Sciences. Prior to returning to DEVK, he worked as a freelance journalist and held positions with Allianz in Munich and Dubai.

Founded 140 years ago as a mutual support organisation for railway employees, DEVK today insures around 4.2 million customers across Germany. The mutual insurer manages approximately 15.3 million insurance policies across all lines of business. By number of policies, DEVK is Germany’s fourth-largest household contents insurer, fifth-largest motor insurer and sixth-largest liability insurer.

Summary

Over the past 25 years, DEVK has fundamentally modernised and automated its business processes. Cloud technologies have played a significant role in this digital transformation. Inflation and climate-related risks represent major challenges for the insurance industry. To gain a better understanding of its exposure to natural catastrophe losses, DEVK employs AI-driven solutions.

Digitalisation will continue to shape the insurance sector in the years ahead. While DEVK remains committed to maintaining direct contact with its policyholders, it uses artificial intelligence primarily to accelerate business processes. The company’s key technological priorities are automation, AI-enabled services and cyber security.

Questions by Dr Martin Seibold, Partner at Sollers Consulting,
and Answers by Michael Knaup, Chief Executive Officer of DEVK

Martin Seibold: Which technological developments have been most significant for DEVK over the past 25 years? What impact have they had on DEVK’s business model and processes?

Michael Knaup: Twenty-five years ago, our operations were entirely paper-based. Today, our processes are largely paperless, claims files are maintained electronically, and many transactions are processed automatically without manual intervention.

In recent years, our primary focus has been on process automation, the introduction of modern IT systems and the migration of applications to the cloud. We have also significantly expanded our online services for customers. Together, these developments have enabled us to handle the needs of our customers and members much more quickly and efficiently than in the past.

Martin Seibold: What geopolitical, economic and environmental challenges is the world currently facing? Which of these are particularly relevant from DEVK’s perspective, and how are you addressing them?

Michael Knaup: We are living in uncertain times, both politically and economically. This makes it all the more important that our customers and members can rely on us.

The effects of wars, armed conflicts and international crises also affect us as an insurer. When raw materials become scarce or supply chains are disrupted, our claims costs increase. Rising inflation also means higher claims settlement expenses. At the same time, we aim to prevent premiums from increasing excessively so that insurance protection remains affordable.

Climate-related risks are another major challenge. Extreme weather events are becoming both more frequent and more severe. This is particularly relevant to our natural hazards insurance business. We have therefore redesigned our residential buildings insurance product. When assessing natural catastrophe risks, we rely not only on the traditional zoning system developed by the German Insurance Association but also, for example, on AI-based simulations of heavy rainfall events. This allows us to assess risks more accurately and calculate premiums with greater precision.

Martin Seibold: Which trends and developments will have the greatest impact on the insurance industry over the coming decades? What implications do you foresee for DEVK’s future business?

Michael Knaup: The insurance industry will be profoundly transformed by digitalisation, artificial intelligence and new regulatory requirements.

However, technology is created by people for people and should first and foremost support us. That is why it should be used where it genuinely adds value. At the same time, one-to-one personal interaction remains indispensable, as the trust of our customers and members is one of our most important assets—especially during critical moments such as a claim.

Having worked in customer service for many years, I know that people want to speak to people. Direct contact with our members is what distinguishes us as an insurer. For this reason, we use AI primarily to automate and accelerate processes. We have introduced an AI assistant that helps us handle customer enquiries more quickly and accurately while maintaining the high level of service our customers expect. Naturally, data protection requirements and regulatory standards are upheld at all times.

Martin Seibold: You served for many years as DEVK’s Board member responsible for IT. Will technology play an even greater role in the company’s future development? Where do you see the strategic priorities?

Michael Knaup: We continuously enhance our IT processes. Our strategic priorities are automation, AI-enabled services and cyber security. Through these initiatives, we aim to accelerate processes, provide even better service to our customers and members, and strengthen our digital resilience. These developments will be crucial to DEVK’s future success and our ability to continue delighting policyholders.

Martin Seibold: Several mutual insurers in Germany have joined forces to accelerate digital transformation. Is scale really an advantage in this context? Under what circumstances would a merger also be an option for DEVK?

Michael Knaup: From DEVK’s perspective, a merger is not currently under consideration. In principle, such a step would only be conceivable if it created clear added value for our members, particularly those working in the transport sector.

DEVK was founded 140 years ago by railway employees for railway employees. To this day, we remain recognised as a corporate social institution of Deutsche Bahn and continue to cooperate with a range of partners in this capacity.