View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 31, 2022

Wefox Italy rolls out new motor and bike insurance products

Wefox Italy has unveiled new products for motor and bike owners, which includes pay as u drive policies powered by artificial intelligence (AI) technology.

Free Report
img

Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
Improve your business strategy with our extensive report. Download it for free, now.
by GlobalData
Enter your details here to receive your free Report.

The company said that its new third party liability insurance offering has the potential to shake up the motor insurance market and ‘redefine’ current standards.

Wefox Italy CEO Matteo Bevilacqua said: “These exciting new products will be available of course from our insurance intermediaries and through our digital platform.

“Our customers buying these products will enjoy new standards and service thanks to our sophisticated data analysis. wefox is focussed on moving away from the traditional insurance model which is based on ‘repair and replace’, to a new model that is fit for purpose for the way we live today.

“Our model is focussed on ‘predicting and preventing’. We use the latest AI technology and implement algorithms to create pay as you drive policies.”

Furthermore, Wefox announced tie-ups within the automotive industry including IMA Italia Assistance, Swiss Re, and DAS.

The wefox actuarial team has teamed up with Swiss Re to build a risk profile assessment model.

This is aimed at boosting safety of roads on the basis of the ADAS (Advanced Driver Assistance System) set-up. 

The partnership with DAS will look after claims and safeguard policyholders’ rights for wefox Italy.

Wefox’s collaboration with IMA Italia Assistance will offer a new car assistance guarantee that integrates multiple insurance services such as car replacement and roadside assistance.

Free Report
img

Gain valuable insight on the Motor Insurance industry outlook for Asia Pacific

Asia-Pacific was the fastest-growing region globally during the review period (2016-2020), recording growth at a CAGR of 2.7%. China was the market leader, accounting for 52.9% of the region’s motor insurance premiums in 2020. To help you make the most of this significant growth, GlobalData’s has put together a comprehensive overview of the Asia Pacific motor insurance industry, including market sizing and forecasts. Read ‘Motor Insurance Industry Outlook in Asia Pacific’ for:
  • Analysis of leading insurers in the region
  • Details on regulatory requirements, including licensing rules, capital requirements, taxation regimes, and ownership quotas
  • Analysis of the impact of COVID-19 on the industry
  • Insight into key trends, technology developments, and potential disruptors in the motor insurance industry
  • Recent M&A activity in the motor insurance industry
Improve your business strategy with our extensive report. Download it for free, now.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Life Insurance International