Posted in Spotlight
April 30, 2018 | 2 minute read

wefox Group – created for tomorrow

wefox started in 2015 – now wefox is the number 1 insurtech in Europe. We are one of the few start-ups globally that has been able to build a sustainable new business in insurance.

The great thing about wefox: We are benefiting many stakeholders in the insurance eco-system – and have created a business model that profits from creating value for others. Today wefox serves over 250.000 end customers that are managed by over 1000 brokers and have insurance policies from over 300 insurance companies.

We have also launched our own insurance company ONE.

ONE is the first in real-time integrated insurance company on the wefox platform. wefox customers can get new ONE policies within minutes, pay via wefox, adjust their policy via wefox super easily, and report a claim with instant feedback or payout. Through that integration ONE is also the first insurancec company with access to the insurance portal. A portal for insurance companies to query an anonymised customer database to find potential customers and create customised sales campaign – targeted on to the desired customers with real-time analytics for each campaign.

The great thing: Soon, all companies will be able to integrate to our real-time API and get access to portal!

 

So what does wefox Group have to do with all of this ?

Both wefox and ONE have one major thing in common on their future path.They both will face the challenge that data from connected devices will drastically increase their value proposition: wefox: Allowing insurance companies a richer data set to query from and eventually utilise for product innovations. ONE: Creating IoT-triggered insurance that automatically turns on and off based on actual risk around you

But if we do not find a way to use data from connected devices in a hyper transparent, responsible and trustworthy way – we will not be able to create a model for both wefox and ONE that works.

This is why wefox Group exists: Let us work together on defining new rules and guidelines so that companies have access to what they need in order to create amazing products and services, without having the incentive to manipulate customers by misusing their data.

Let’s create the world of tomorrow together.

– Julian Teicke, CEO, wefox Group