NY / Berlin: Marsh Inc. & Wefox Group announce partnership to target the European SME insurance market. Wefox Group, the InsurTech group that owns wefox, a digital insurance marketplace, and ONE, Europe’s first fully digital insurer, today announces its intent to form a strategic relationship with Marsh, a global leader in insurance broking and innovative risk management solutions, to deliver expanded services to micro small and medium-sized (SME) businesses across Continental Europe.
The collaboration brings together wefox’s leading proprietary technology platform, its network of independent insurance agents and brokers, and ONE with Marsh’s global commercial insurance capabilities. These include Bluestream™, its recently-launched digital broker, and Victor Insurance, a leading managing general underwriter. Through the collaboration, wefox and Marsh will deliver a full range of tailored insurance products to micro SME businesses, including those engaged in the sharing economy, tradespeople, independent retailers, and non-profit organisations.
Initially focusing on Germany, Austria and Switzerland, the collaboration is expected to extend across Continental Europe during 2019. “The collaboration with Marsh is an exciting development for our company,” said Julian Teicke, Group CEO of wefox Group. “With our combined digital capabilities and underwriting experience, Marsh and wefox will help micro-SME businesses across Continental Europe source their insurance cover in a more efficient way.”
“There are significant opportunities in the micro-SME insurance market, driven by the evolution of the workplace and growing demand for digital solutions,” said John Drzik, President, Global Risk and Digital, Marsh. “We look forward to working with wefox to deliver innovative solutions to micro SME clients, through our combined distribution and cutting-edge technology platforms.”
“The micro-SME market is a growing area for Marsh. The collaboration with wefox Group reflects our strategy to expand our footprint into the micro-SME market in Germany, Austria, and Switzerland. This agreement will be a starting point to extend the relationship throughout Continental Europe,” said Cristiano Dalgrosso, Head of Marsh’s Consumer and Commercial Segment, Continental Europe