WeGroup: helping insurance providers to connect with their digital customers
WeGroup is a Belgian InsurTech company that helps insurance providers, meaning intermediaries, servicers and insurance companies, to make a better connection with their growing group of digital customers. This is done via Louise, their 24/7 virtual assistant. By linking external data to the knowledge of the insurance provider, Louise tells everything there is to know about the specific needs and risks of a customer. This way better advise and tailor-made insurance products can be offered. Furthermore, the AI algorithms behind Louise uncover new upselling potential, but also help with administration, such as automatic mail understanding and replies, and even with automated claims handling by checking validity and various fraud indicators. By doing so, the system solves the problem of inefficiency and slow processes, as well the substandard use of data that leads to a low understanding of end-clients.
Louise was launched in 2019 as a software solution to Belgian insurance brokers. By now, the platform is used by many intermediaries and several of its components are integrated into the systems of insurance carriers and service providers all over Europe. The platform is also getting increasing traction by players outside the insurance industry, aiming to offer insurance products and service to their initial offering. By implementing an easy-to-use total solution, it connects the different parties in the insurance value chain and optimizes the communication both with each other and their end clients. Because of this, WeGroup’s solution was already awarded several international insurance and innovation awards.
How it works
Based on simple questions that can be filled in online or with an intermediary, Louise links external data to give a full overview of the needs and risk of a customer.
The same happens for claims management, where the external data is linked to policy terms and decides whether or not a claim is covered. This way, servicing insurance is becoming as easy as selling it.
Why we selected WeGroup for DIA Munich
Next to the initial offering to traditional insurance players, WeGroup’s platform can be of great value to third party players outside the traditional insurance value chain. This opens a lot of market opportunities and is one of the top trends in insurance.
At DIA Munich, WeGroup will present their tool towards both traditional insurance intermediaries as well as these new players beyond insurance. Arvid De Coster, WeGroup’s CEO, will display their implementations with use cases from their current markets and show how these will soon innovate their new markets of Germany and Austria.
Check out their live demo here:
Who is WeGroup?
WeGroup was founded in September 2017 by Arvid De Coster, CEO (background in insurance within the Munich Re Group), Bjorn Vuylsteker, CTO (academic background specialized in AI) and Rémi Wildschut CFO (corporate finance background and previously successfully exited a startup). By now, WeGroup has grown to 19 people, of which most of them are active in engineering and development. Recently, the Belgian startup opened its first international office in Warsaw, Poland.
WeGroup raised 1.5M in seed funding and is looking towards a Series A round in 2020.
“By giving new customer insights and making insurance processes simple and fast, we enable players from both inside and outside the field of insurance to service their clients the way they should be serviced” Arvid De Coster, CEO WeGroup.
WeGroup CEO and co-founder Arvid De Coster
WeGroup core team:
- Arvid De Coster – CEO & co-founder
- Remi Wildschut – CFO & co-founder
- Bjorn Vuylsteker – CTO & co-founder
- Sebastiaan Van Hoecke – System administrator
- Robin Praet – AI engineer
- Lander Moerkerke – AI engineer
- Sam Amant – Front end dev
- Kirsten Van Bruyssel – Front end dev
- Aaron Israel – Lead Front end dev
- Kenzo Heye – Back end dev
- Agnieszka Kania – Lead design
- Cas Cloots – UI/UX design
- Laurien Braeckman – Sales director
- Leander Beuckels – Sales manager
- Wouter Roose – HR
- Michael Schauwers – Front end dev (not in picture)
- Maxime Verhoeve – Front end dev (not in piture)
- Liam Goethals – Backend dev (not in picture)
- Jarne Verbeke – System engineer (not in picture)