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 ist ein 2015 gegründetes Insurtech, das ein Ziel verfolgt: Empowering Insurance - die digitale Transformation der Versicherungsindustrie vorantreiben und eine nahtlose Zusammenarbeit zwischen allen Beteiligten ermöglichen.[ENG]
wefox. Empowering Insurance.
Founded in 2015, 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.