27 June 2017Insurance

Insurtech Wefox integrates Munich Re-backed digital insurer One

Swiss insurtech Wefox, a marketplace for insurance solutions, is integrating Munich Re-backed digital insurer One into its product.

The two companies will continue being legally independent companies but they share the same shareholders.

One will operate as a fully-licensed cover provider and will be integrated into the Wefox platform from September 2017.

Since its start 18 months ago, Wefox has attracted around 300 insurers, 600 brokers and 125,000 clients. Munich Re subsidiary ERGO and Barmenia cooperate with Wefox, according to a June 26 press release.

Munich Re will act as One’s reinsurer. Since January 2017, Munich Re is also supporting One in product development and data analytics.

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More on this story

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28 June 2018   Digital all-round insurer ONE and Munich Re have created a joint venture called ONE Coach which will enable customers to monitor in real time how their individual lifestyle choices affect their risk assessment score, according to a company statement.
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8 March 2019   Berlin-based insurtech firm Wefox Group has raised $125 million in its series B funding round led by a newly-formed European ventures fund Mubadala, with participation from Chinese investor Creditease, among others.