wefox, the Berlin-based digital insurance company, is a founding partner in the world’s first kitemark for digital responsibility. With the launch today of the Digital Trust Label, wefox brings corporate responsibility to the digital world.
wefox Founder and CEO, Julian Teicke, said: “People want to feel secure in the knowledge that their data is being used responsibly, respectfully and reasonably. The Digital Trust Label establishes a two-way relationship between us and the customer, and takes proper care of our customers' information. It is the foundation of building trust. This is also an opportunity for Europe to show the rest of the world how data privacy should be handled. We are the role models for the next generation of tech companies.”
Adopting digital responsibility and embracing digital trust are among the new requirements for companies to stay competitive, according to the SDI Foundation. The launch of the Digital Trust Label will enable consumers to better-identify trustworthy services, while giving organisations the opportunity to convey their credibility at a time when digital transparency and accountability are of growing importance.
Created in Switzerland with inclusivity in mind, the Digital Trust Label was designed from a user perspective and adopts insight from an audit based on 35 criteria across four dimensions – security, data protection, reliability, and fair interaction (including notifying the user about the use of automated decision-making). It looks to indicate the trustworthiness of a digital service in a clear, visual, and jargon-free way.
wefox is supporting the initiative, as one of seven founding partners, to drive trust and encourage maximum transparency in the insurance industry, in an era in which use of data is becoming more commonplace and indeed crucial to ensuring competitive and ‘real time’ cover.
Julian believes customers will - in a matter of time - only do business with companies which give full access to their information, and stands as a firm believer that the customer should own their data – actively building the tech to ensure customers can retain and control their data, especially important as we enter the fourth data revolution in which the “Internet of Things” will become even more commonplace.
About wefox
[GER]
wefox. Empowering Insurance.
wefox wurde 2015 von Julian Teicke, Fabian Wesemann und Dario Fazlic gegründet. Das Ziel des InsurTechs: Empowering Insurance - die Versicherungsindustrie vollständig zu digitalisieren und so alle Akteure auf einfachem Wege zusammenzubringen.
Im März 2024 wurde Mark Hartigan zum CEO der wefox Gruppe ernannt, um das Unternehmen in die nächste Wachstumsphase zu führen. Seit der Gründung 2015 hat das Unternehmen seinen Umsatz jährlich gesteigert und 800 Mio. USD im Jahr 2023 erzielt. wefox hat aktuell knapp 3 Mio. Kunden in seinen Märkten Deutschland, Österreich, Italien, Polen, den Niederlanden und der Schweiz.
Im Mai 2023 erweiterte wefox seine Series-D-Finanzierung um 55 Mio. USD und sicherte sich eine zusätzliche RCF in Höhe von 55 Mio. USD von J.P. Morgan und Barclays. Das Unternehmen ist mit 4,5 Mrd. USD bewertet.
[ENG]
wefox. Empowering Insurance.
wefox was founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic. wefox is an insurtech driven by a single purpose: Empowering Insurance - driving the digital transformation of the insurance industry and facilitating seamless collaboration among all stakeholders.
In March 2024, Mark Hartigan was appointed CEO of the wefox Group to lead the company into the next growth phase. Since its founding in 2015, the company has annually increased its revenue and achieved $800 million in 2023. wefox currently has nearly 3 million customers in its markets of Germany, Austria, Italy, Poland, the Netherlands, and Switzerland.
In May 2023, wefox expanded its Series D financing by $55 million and secured an additional RCF of $55 million from J.P. Morgan and Barclays. The company is valued at $4.5 billion