Today is the public launch of ONE and we are very happy to announce the engagement of two parties that will support the growth and success of the wefox Group (wefox & ONE):
MunichRe: The largest global reinsurance company
Ashton Kutcher: One of the 100 most influential people according to Time Magazine and Founding Partner of Sound Ventures.
It’s been clear for me from the beginning: Reinsurance companies are in trouble. They have two large assets:
1. They were amongst the first big data companies ever – crunching numbers is in their DNA
2. They have capital
But if they do not manage to get access to contextual data, their meta-data will soon be worthless and they will only be able to provide capital. But there are more capital efficient vehicles around and new players that will enter the market. We actually have one party on our cap table from the very beginning that is betting exactly on this trend: The very forward-looking CEO of Victory Park Capital Richard Levy saw the possibility of deploying innovative reinsurance capital for companies that own contextual data.
However, it has also been clear from the beginning: There would be no better strategic partner for our business than a reinsurance company. I have now witnessed through many interactions with the team at MunichRe that they fully understand the future development of their industry and the importance of getting access to contextual data via companies like us. The powerful meta-data of MunichRe and the increasing data collected from devices via ONE will be a very powerful combination on the path towards reinventing the insurance experience.
And finally, it’s been clear from the beginning: We need people around us that are inspiring, people that understand the changes in our society and that understand what these changes mean for consumer behavior. When I met Ashton Kutcher, I met a person who understands the big picture. Who understands what data will do to our society. A man that is not only watching the world change, but one that actively gets involved to help change the world. A man that is not using his fame only for personal gain but for others to gain from it – a truly great investor. We are excited to have Ashton and Sound Ventures as an investor.
I am very happy to have the opportunity to collaborate closely with our new partners.