Country: Switzerlandfinancefox
Year: 2014

An insurance company could use this innovation in order to:

  • Attract new customers: the app is user friendly and makes it fast to apply for an insurance product. At the end of the process the user signs digitally to confirm his subscription
  • Upgrade existing customers: the app enables optimization of an insurance portfolio for the clients. They can upgrade at any time
  • Better support experience: the app enables the user to make claims and connect with a support team via video-calls

Concept

  • FinanceFox is a mobile app that compares insurance products to make personalized suggestions based on the user’s specific needs
  • The app analyzes (digitally and thanks to an expert) the gaps in coverage of each user and makes suggestions
  • It also centralizes all insurance contracts onto the same platform
  • In case of a claim, the platform also enables the user to file and manage them

Consumer Benefits

  • All-in-one: the user centralizes their insurance products, buys new ones and can file claims all on one platform by uploading documents
  • Personalized: while the process is digitized the user can also have personalized support and advice from a representative
  • Personal consultancy: a personal consultant analyzes the user’s unique situations and lifestyle and suggests new offers better fitted to their profile
  • Transparency: the user can compare rates of different insurance companies on the platform

How to use

  • The app can be downloaded on a smartphone. The users log in with a username and password, then adds all of their existing insurance products for FinanceFox to generate tailored recommendations
  • It is free for the end user but insurance companies pay for the service provided by FinanceFox

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