WEFOX SECURES NEW AFFINITY PARTNERSHIP WITH PROPUP

wefox, the Berlin-based insurtech and Austrian proptech start-up, PROPUP - announce a new affinity partnership. 

The partnership aims to use the innovative power and the enormous potential of digital transformation to benefit and protect customers and to make property insurance transactions simple through greater transparency, security and above all efficiency.

Julian Teicke, CEO at wefox said: “Keeping people safe and helping them to protect everything that matters to them has always been at the heart of everything we do. Property is probably one of the greatest investments people make and of course, the right protection in the form of fit for purpose insurance is critical. 

“Our new partnership with PROPUP is not only an excellent demonstration of our digital technology in play to protect the customer, but also a clear validation of the importance of removing the paper jungle usually associated with property and real estate whilst ensuring every customer gets the right insurance for their needs,” added Mr. Teicke. 

Kristof Konstantin, co-founder and co-CEO of PROPUP, said: “By working with wefox, we can expand our offering and now also give our customers access to a wide range of insurance solutions and advice via our platform. Whether it is household insurance, homeowners insurance or other types of insurance.”

Michael Reikersdorfer co-founder and CTO of PROPUP, added: "In addition, wefox , with its technology platform as a hub between customers, insurance brokers and insurance companies, enables us to make insurance processes relevant to our customers in the real estate business more efficient, such as much faster application and processing times for insurance contracts. The protection of customer data as the top priority and the guarantee of the highest security standards were enormously important decision-making factors for the partnership with wefox."

This latest affinity partnership announcement from wefox is another endorsement of the wefox strategy to strengthen distribution capabilities via the global Affinity business. wefox is now delivering on its plans to build a tech platform that enables more companies to distribute insurance products.  

Another important aspect of the partnership is the personalised advice every customer can benefit from. wefox’s platform makes it possible to better understand a customer's insurance profile and to create tailor-made offers. 

PROPUP enables paperless work in real estate transactions and connects sellers, buyers, brokers, notaries, banks, lawyers, property managers and all important players in a real estate transaction. The central figure is the real estate agent, who can handle and digitally map important processes in his workflow via the PROPUP platform, from the submission of the offer to the conclusion of the purchase or rental contract, or his entire property and prospect management. A central PROPUP core function is a completely digitized form system for real estate agents and property managers. In the partnership with wefox, PROPUP is now expanding its service offering in an important core segment of the real estate business.

About wefox

[GER]

wefox. Empowering Insurance.

wefox wurde 2015 von Julian Teicke, Fabian Wesemann und Dario Fazlic gegründet. wefox ist ein Insurtech mit einem einzigen Ziel: Empowering Insurance; die Sicherheit von Menschen gewährleisten, indem wir Versicherungen zugänglich machen. Seit der Gründung 2015 hat das Unternehmen seinen Umsatz jährlich verdoppelt und lag 2022 bei 580 Mio. USD. wefox hat aktuell über 2 Mio. Kunden in seinen Märkten Österreich, Deutschland, Italien, Polen, den Niederlanden und der Schweiz. Im Mai 2023 sicherte sich wefox eine Kreditfazilität von 55 Mio. USD von J.P. Morgan und Barclays und einen zweiten Abschluss seiner Series D in Höhe von 55 Mio. USD ab. wefox 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: enabling people to be safe through empowering insurance. Since launching in 2015, the company has doubled its revenues every year to reach US$580 million in 2022 serving more than 2m customers across Austria, Germany, Italy, Poland, The Netherlands and Switzerland where wefox currently operates. In May 2023, wefox secured US$55m credit facility from J.P. Morgan and Barclays alongside a $55m second close in its series D at US$4.5bn valuation.


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