Insurtech giant wefox fuels GATE’s electric vehicle rentals with customised insurance solutions

Leading InsurTech firm, wefox, and GATE (Green & Advanced Transport Ecosystem), a ground-breaking digital service founded by the Iveco Group, have announced a strategic affinity partnership. This alliance will leverage digital solutions and a pay-per-use formula to shape the future of long-term rentals for electric commercial vehicles.

wefox, renowned globally as a trailblazer in the InsurTech sector, is renowned for its innovative approach to insurance, while GATE, supported by Iveco Group, aims to revolutionise green commercial transport through its unique pay-per-use, long-term rental formula. This pioneering service promises to unlock new possibilities in the mobility business sector.

This partnership will enable GATE to offer a holistic, all-inclusive service, structured into three flexible packages. Each package presents a myriad of benefits per kilometre, encompassing 100% green vehicles, a digital service ecosystem, maintenance & repair, telematics, recharging, and insurance.

Julian Teicke, CEO at wefox, commented on the partnership, saying, “Our new deal with GATE from IVECO is another endorsement of our strategy to strengthen our distribution capabilities via our global Affinity business. We are now delivering on our plans to build a tech platform that enables more companies to benefit from insurance products. Our partnership with GATE is exactly that in action.”

As part of the affinity partnership, wefox will deliver customised insurance products embedded within GATE’s rental offerings for electric commercial vehicles. wefox’s involvement extends from identifying the best products to meet GATE’s needs to managing the entire insurance chain via their tech hub in Milan. The process aligns with GATE’s fully digital ecosystem, ensuring all operations are digitally executed.

Simone Olivati, President of Financial Services at Iveco Group and Head of GATE, expressed his optimism for the partnership, stating, “GATE is an exciting new opportunity for the world of goods transport and bringing a fully electric rental service to market, complete with insurance in play, allows our new business to exceed the needs and expectations of our customers. wefox is a natural choice for us. They believe in teamwork, collaboration and aren’t afraid of pushing boundaries. The combination of the wefox business model, knowledge, newly developed international scale and their technology platform was a perfect fit.”

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