Market Overview

wefox Continues to Expand and Launches in Italy

  • Insurtech wefox continues to implement its global growth strategy
  • After Switzerland, Germany and Austria, wefox launches operations
    in Italy
  • wefox has entered a strategic partnership with Mansutti S.p.A., one
    of the largest family-run brokerage companies

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. "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.

This press release features multimedia. View the full release here:

Julian Teicke (Photo: Business Wire)

Julian Teicke (Photo: Business Wire)

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.

Strategic cooperation

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.

New insurance products for the Italian market

"As a partner of Europe's leading insurtech, we can offer insurance
solutions at a very high service level using the latest Salesforce
technology. This will significantly strengthen our position as an
international broker", says Tomaso Mansutti, CEO of Mansutti S.p.A.
wefox supports Mansutti as a software provider. Brokers receive a modern
CRM system and can outsource back-office work to wefox enabling them to
work more efficiently, focusing on customers and concentrate more on
customer service. Tomaso Mansutti said: "Our customers can use the wefox
app to view and optimize their insurance policies anytime and anywhere,
agree new contracts and report claims - all digitally in one place. We
expect excellent customer satisfaction and loyalty." Mansutti is
supporting wefox in the development of insurance products for the
Italian market.

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.

About wefox

Wefox, founded in Switzerland in November 2014, is the independent
service platform for insurance in Germany, Austria and Switzerland. The
marketplace allows customers, brokers and insurance companies to manage
their insurance and financial products and services intelligently and
efficiently. The product brings together the benefits of the online and
offline world, combining modern technology and consulting knowledge from
the classic insurance business. Since its launch, wefox has already
secured more than 250,000 policyholders in record time. The company,
with more than 100 employees, works with more than 1000 brokers and is
continuously looking to expand its network into other European countries.

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