WEFOX LAUNCHES GLOBAL AFFINITY BUSINESS

wefox, the world’s leading insurtech, has launched its global affinity business, connecting insurance companies with partners to distribute insurance products.

This new venture expands wefox’s existing distribution channel and increases the company’s ability to deliver insurance products through partners. The team, led by Tomaso Mansutti and Pierfrancesco Ricca, will target a global market worth approximately US$3 trillion in embedded insurance alone.

Tomaso Mansutti, Group Head of International Partnerships at wefox said: By taking our affinity business global, we not only endorse our affinity knowledge and experience, but also ensure that all our partners benefit from more than just products and service solutions.

We will continue to develop tailored insurance products for our affinity clients, but for us, mutually successful affinity business is also about culture and authenticity. We work together and always put our customers at the center of every decision we make together.

wefox delivers innovative solutions through channels that enable our partners to generate new revenue streams and increase customer loyalty. The technology offered by wefox creates new opportunities, from insurance embedded in electricity for new mobility to new insurance options with completely new variables. All this is offered to insurance companies for our partners, Mr. Mansutti added.

Pierfrancesco Ricca, Group Head of Affinity Partnerships, said: This is a perfect match and a huge market opportunity for wefox. Through our existing capabilities, experience and industry knowledge in insurance, distribution and technology, we will deliver and succeed in delivering value to our customers.

We are an insurance broker. wefox delivers end-to-end digital journeys, from promoting and selling products and services through our partners’ channels, to managing renewals, upselling and cross-selling, claims and a detailed and regular reporting system on the progress of the entire program.

Our model enables our partners to make affinity insurance a core part of their business and ensure they remain in full control. This is achieved through our simple and transparent process. We have built robust systems and processes and easily integrate with all stakeholders to ensure robust compliance, customer satisfaction and the highest business performance, regardless of the complexity of the business in terms of product solutions, insurers – the best performers for each product – channels and third party involved parties or countries, Mr Ricca added.

In Germany, the new Country Head, Guenther Blaich, will lead the local affinity activities. In November 2018, the team was expanded with two new employees: Thomas Rettenwander joined the team to lead the affinity business for Austria, and Daniele Del Bo was appointed as Group Business Development Director for Affinity Automotive. Other hires are in the process.