FinanceFox: A 24/7 single point of contact for everything insurance related
FinanceFox, the next-generation insurance app, is another successful start-up founded in Switzerland that is moving the insurance brokerage process online. The app guides users through the insurance jungle with a customer-centric approach, using a combination of personal consultation and advanced technology. The ‘Free to Use’ solution offers a digital insurance folder where claims and invoices can be handled easily and paper-free. This service is combined with a single point of contact for all insurance matters. In case of an emergency the user is just a few clicks away from a personal consultant to get direct support via call or chat. Comparing rates and services with advanced algorithms is nothing new but the FinanceFox insurance experts go one step further. They detect savings and upon request, they offer personal advice and information on any insurance matter – completely free of charge, neutral, and easy to understand.
No more insurance stress
FinanceFox wants people to feel safe. Insurance customers often feel lost and dissatisfied with confusing insurance terms, large price differences for comparable services and complicated damage reports. FinanceFox takes away the insurance stress, by eliminating all pain-points. The app, built entirely on the Salesforce platform, offers also a B2B-platform that allows brokers to manage and support their existing customers through advanced technology. By doing this the broker tremendously increases the efficiency, the data quality, the customer growth and highly increases the revenue of his company. The start-up makes money via a service component paid by insurance companies in return for FinanceFox handling most of the administration and support side of insurance. That’s a business model that has been around for as long as insurance brokerage has existed. The start-up is simply but smartly updating it for a mobile-first age.
Why we selected FinanceFox for DIA Barcelona
inanceFox fulfills a new role in the insurance value chain. It empowers the users to manage their insurance products smartly. The company combines the personal advice of a traditional insurance business with modern app technology, thereby bringing together the evolved needs and expectations of customers, insurance brokers and insurance companies. FinanceFox is a new kind of broker that taps into the needs of consumers and insurance carriers alike, leveraging to the max what digital has to offer.
Who is FinanceFox
After building up Switzerland’s most successful e-commerce site, DeinDeal.ch, Julian Teicke and Dario Fazlic looked for a new business model that would resolve a global pain point. They teamed up with Julian’s father Hartmut Teicke who had been in the insurance industry for more than 30 years. Julian and Dario had the perfect symbiosis of “old and new economy” to found FinanceFox in November 2014. Recently, FinanceFox raised an investment of 5.5 million USD, led by Salesforce Ventures, AngelList, Idinvest, Seedcamp and the Austrian venture capitalist Speedinvest. The new capital will be used to expand FinanceFox marketing and sales activities in Switzerland and Germany as well as enter new markets “The insurance market we have known for decades is on the brink of a fundamental change. Clients generally feel lost and dissatisfied with complex insurance conditions, huge price differences for comparable services and complex claim procedures.” “Highly intelligent and swift, considered and adaptable – no other creature on earth represents sharp decision-making as the fox does. It’s our mission to help our clients manage their finances in the same quick-witted way. And this is why we chose the name FinanceFox.” Julian Teicke, founder and CEO FinanceFox
Presenting at DIA Barcelona Julian Teicke, Founder & Group CEO