Munich Startup: What does Penzilla do? What problem does it solve?
Catherine Leser, COO Penzilla: Penzilla is the operating system for company pension plans (bAV). According to a large StepStone survey, company pension plans are the most popular employee benefit among employees of all ages. Yet, especially in smaller companies, less than half of all employees have a company pension plan. This is despite the fact that employees are legally entitled to one. Company pension plans are simply too complicated for many. And we solve this with our software.
Penzilla integrates into the human resources (HR) system, digitizes existing company pension contracts, and provides HR employees with an overview of all pension plans in place within the company. Furthermore, we relieve HR of administrative burdens, as employees can independently view their pension plans and the associated benefits. And if changes are needed, they can also book an appointment with their company pension contact person themselves. We relieve HR departments of the uncertainty surrounding the issue and the administrative burden. At the same time, we help companies reduce labor costs. Because when employees save for their pension through the company, employers also incur fewer social security contributions.
Insurance world so far frightening little digitized
Munich Startup: But that's been around for a long time!
Christoph Leser, CEO Penzilla: In fact, this isn't the case. The insurance world has so far been shockingly under-digitalized. Especially in small and medium-sized companies, isolated solutions, Excel spreadsheets, and paperwork dominate the daily work of HR managers. Simply tracking which employees have been informed about the company's pension plan options and which haven't, who has signed a salary conversion agreement, and for what amount, all of this creates an enormous administrative burden for HR departments. This, in turn, often leads to a lack of vigorous action within the HR department.
There is enormous potential here for employee recruitment and retention. Ultimately, companies are contributing to combating old-age poverty and helping their employees close their pension gaps.
Penzilla is capable of mapping all implementation channels and pension arrangements in place within the company. We clearly identify the liabilities underlying the promised benefits at a glance and ensure 100 percent compliance through comprehensive process documentation.
We can not only manage existing contracts, but also accept new ones. If you don't yet have a broker, we can help you optimally protect your employees. We've also developed features for brokers so they can use Penzilla to best support their companies.
Bringing experience from the family business into the startup
Munich Startup: What is your founding story?
Catherine Leser: We met at our last employer, are married, and have two young children. Christoph was introduced to the topics of occupational pensions and company start-ups at an early age. His mother had already founded a company specializing in the administration of support funds, a special type of company pension scheme. Through the experience he gained in the family business, Christoph was familiar with the problems HR managers face when it comes to company pension schemes. So, in 2020, we quit our jobs and founded Penzilla to solve these problems.
We believe that company pension schemes deserve to be brought into the mainstream, as they are an excellent but underestimated tool for closing the pension gap.
Munich Startup: What have been your biggest challenges so far?
Christoph Leser: The biggest challenge we face every day is promoting company pension plans in general. Many employers, for example, are unaware of the savings potential that a well-designed company pension plan offers. Not to mention the advantage this gives them in the battle for skilled workers.
Otherwise, as with any startup story, there were ups and downs. For example, we had to fundamentally change our software several times before we finally arrived at a product that met both our customers' and our own needs.
In one year: Double the team
Munich Startup: Where would you like to be in one year, where in five years?
Catherine Leser: In one year we would like to Double the team from 10 to 20 employees. Our sales targets are accordingly ambitious. Within the next five years, we naturally plan to continue growing and establish ourselves as a one-stop shop for occupational pensions.
Munich Startup: How have you experienced Munich as a startup location so far?
Christoph Leser: Munich is ideal for us, partly because of its geographical proximity to a large number of attractive medium-sized companies and thus potential customers!
The city is incredibly attractive to young talent, whom we want to inspire with our mission (P.S. We have openings). There's also a vibrant startup scene here, featuring other great startups, events, universities, investors, and many other stakeholders with whom you can exchange ideas and network.
Munich Startup: Bicycle or public transport?
Catherine Leser: Our kids love being driven to daycare or similar places by us on our cargo bike, so we use bikes. But in bad weather, they also like to take public transport.
