At its core, insurance is about security – security for families going through their most challenging times, and for individuals in need of support. My co-founders and I have founded wefox to return insurance to its core. By creating technology for insurance brokers to provide optimized, tailored advice, and focusing on intelligent automation, wefox ensures its customers are protected when they need it most.
Launching wefox in 2015, we set out on a journey to make insurance simple, more transparent, and customer-centric, and to fulfill our mission to be 10x better than everyone else is our goal. That's what we work on day after day.
wefox Insurance is fully digital, which allows us to be there for you 24/7, every day of the year. We understand what matters most to you – terms and conditions you can understand, fast payouts for claims, and for everything else to be as simple and stress-free as possible. As a natively digital company, we solve more than 80% of your requests immediately – no matter what day of the week, and you receive claims payments eight times faster than from the average insurer. Our technology doesn’t only enable us to work faster and avoid mistakes, it also reduces our operational costs. Savings which we pass on to you, our customer, who benefits from lower prices. Everything from our advisor toolkit, to wefox App and back-office technology, is developed with you in mind.
Unlike many other digital insurers, wefox focuses on selling our products through advisors. For most people, insurance is a complex topic that they would rather not think about more than necessary. I truly believe that personalized advice is crucial to ensuring that customers have the right coverage to protect their physical and financial well-being. It takes both time and know-how to find the right coverage for each customer's specific situation, and wefox’ network of digitally supported advisors makes that possible.
By the end of 2021, we will have built a network of over 3,000 independent brokers advising you to protect yourself with wefox Insurance in Germany. We have also hired and trained our own brokers in Switzerland, Germany, and Austria, ensuring we can give the best possible advice to you wherever you are. Together, they have advised more than 500,000 customers on getting the right insurance coverage; that’s 500,000 families whose financial and physical well-being is safe even when the worst happens. Our technology means that wefox can provide higher quality advice to you than anyone else, at a scale that will be hard to match.
Today, wefox is shifting the insurance paradigm, going beyond ‘repair & replace’ to ‘predict & prevent’. We are using the latest AI and IoT technology to prevent 30% of bad things that cause people loss or harm. Because no matter how well your insurance protects you, it’s always better to prevent the damage in the first place. Keeping you safe and giving you coverage that is 10x better than the status quo is why I get up every morning. It’s wefox’ fixed star and purpose and, together with the entire wefox Team, we’ll make it become reality. Every single day. That’s a promise.