Wefox continues to expand and launches in Italy
Only three years after launching in Switzerland and Germany, and one year after starting operations in Austria, insurtech business wefox has announced its entry to the Italian market, continuing its focus on European expansion.
Following the effective growth strategy used in the DACH countries, wefox will also integrate the classic broker into its business model in Italy and combine the old and new economy, pairing the expertise and many years of experience in the insurance market with the possibilities of digital technologies. For this reason, wefox has partnered with one of the largest family-run brokerage companies in Italy, Mansutti S.p.A. Based in Milan, Mansutti employs more than 300 people and has an extensive network in the insurance industry. The brokerage company focuses on the automotive industry, and will use this connection to drive business via the wefox platform.
“We want to become the new insurance standard worldwide. Italy is the next important step for us,” says Julian Teicke, CEO of the wefox Group. Insurtech combines personal consulting with state-of-the-art app technology, providing solutions to meet the changing needs of customers, brokers and insurance companies. wefox has gained around a quarter of a million customers, over 1000 insurance brokers and over 300 insurance companies to date.
wefox is also striving to become the most innovative marketplace for customers, brokers and insurance companies in Italy. “Italy is promising for us because the market there is at a turning point, shifting from product-centric to a more customer-focused orientation,” says Julian Teicke. wefox wants to establish the platform concept in Italy and shape the digital transformation for customers, brokers and insurers.
Cooperations are being expanded
“Next year, wefox plans to incorporate its own company in Italy and expand its cooperation with other brokers. Expansion into other European countries is also anticipated.