New online broker platform from wefox Group

The launch of the free platform is part of Berlin-based insurtech firm wefox Group’s global push. Some estimates suggest that up to 90 per cent of global insurance sales are currently at risk because of the coronavirus pandemic, so wefox is making wefoxGo available to insurance brokers for free in the hope that sales can be boosted – at the same time as making some positive PR waves for the company. The release of the platform has been brought forward in response to the mounting severity of the Covid-19 crisis.

WefoxGo allows brokers to link their calendars to quickly and easily schedule online meetings and conduct consultations via in-built video conferencing, so that brokers can communicate with one another and with their customers easily and efficiently, anywhere in the world. The parent company noted a 200-per-cent increase in the use of its full-service video conferencing tool (of which wefoxGo is a slimmed-down version) in February as the coronavirus outbreak gained steam, a number that it seems prudent to predict will rise as the pandemic drags on.

“There’s a real risk that all brokers’ businesses will be severely impacted by coronavirus,” said Julian Teicke, wefox Group’s Chief Executive. “The direct sales of insurance companies will definitely increase from currently nine per cent, but online sales of life and health insurance products will sharply decline during the crisis. We are talking about 90 per cent of all insurance sales globally being at risk. Therefore, we created wefoxGo to help insurance brokers through this crisis.”