Wefox, a insurance platform that enables customers, word brokers and word providers to covenant and conduct word products digitally, has acquired One, a entirely digital and newly launched word provider.
Although terms of a understanding sojourn undisclosed, we know a dual companies already common a series of investors, including Wefox investing in One itself, and that Wefox Group CEO and owner Julian Teicke had been advising One before to launch.
The meditative of a merger, that sees One owner Stephan Ommerborn, before an executive during Zurich Insurance Group, sojourn as CEO of One, is that a digital-only word association can act as flagship business on a Wefox platform, integrating during a deeper spin and therefore charity a softened patron experience. This in spin should assistance to drag a rest of a word attention into a digital age — that is Wefox’s prolonged tenure vision.
An analogy we used in a call with Teicke is what Google has finished over a years with a Nexus phones. They aren’t indispensably perplexing to hit out all other Android phone makers though are dictated to lift a bar and yield an instance of what is possible.
To that end, I’m told that One is environment a instruction a word attention is streamer in terms of information access. Its procedures, both front and behind office, are entirely digital, ensuing in a claimed 3 mins it takes for business to collect and squeeze an word product.
More importantly, a digital (and hopefully improved) patron knowledge extends to claims-management too. “With mobile claims reporting, claims can be settled, and in 60 percent of claims a income will be eliminated into a customer’s comment in underneath a minute,” says One. Data is also rubbed in real-time, permitting business to check their stream word standing instantly.
Asked if Wefox-owned One is now an astray aspirant on a Wefox platform, Teicke says it will sojourn eccentric and won’t be pushed forward of other word products possibly by Wefox itself or a 100s of eccentric brokers who use a height to conduct their customers’ word needs.
Instead, since of a information that is going by a height any day, such as how fast claims are settled, any word product is given an algorithmically generated patron compensation score, which, like any another word product offering by Wefox, One is also theme to.