Swiss insurtech start-up wefox, which was launched three years ago in Switzerland and Germany as a digital marketplace for insurance, has forayed into the Italian market.
wefox calls itself as a marketplace for customers, brokers and insurance companies, alike.
The company said that it continues to focus on expanding its operations in Europe with the Italian launch following its last year’s entry in Australia.
wefox Group CEO Julian Teicke said: “Italy is promising for us because the market there is at a turning point, shifting from product-centric to a more customer-focused orientation. wefox wants to establish the platform concept in Italy and shape the digital transformation for customers, brokers and insurers.”
In Italy, the insurtech company has forged a partnership with Milan-based brokerage company Mansutti, which focuses on the automotive industry.
Mansutti, which has over 300 employees and a vast network in the insurance industry, is expected to drive business through the wefox platform.
Under the partnership, wefox will support Mansutti as a software provider. The company said that brokers get a modern CRM system and can outsource back-office work to it to enable them to work more efficiently, thereby focusing on customers and concentrate more on customer service.
Mansutti CEO Tomaso Mansutti said that the Italian firm expects to provide insurance solutions at a very high service level through the latest Salesforce technology of wefox, thereby consolidating its position as an international broker.
Mansutti added: “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.”
wefox revealed its intentions to incorporate its own company in Italy next year. It is also looking to expand its cooperation with other brokers with entry into other European countries also on the cards.
Since its launch, the insurtech company claims to have secured over 250,000 policyholders.
With over 100 employees and partnership with over 1000 brokers, the Swiss firm said that it is looking continuously to grow its network into other European countries.