Wakam
Insurance "tailor-made"
to your needs
Wakam is the continuation of La Parisienne Assurances, one of the most historical insurance companies founded in France in 1829. Nowadays, Wakam is considered one of the "Fastest Growing Companies in Europe" (Financial Times 2020), where 60% of its activities originate.
Having a gross income of 417 mils. Euros, in 2020, Wakam was again named the 1st company by revenues in Europe by the Financial Times. It is also characteristic that in the six years of 2014-2020, it presented a 30% average growth.
However, what distinguishes Wakam and offers excellent prospects, is the business model on which it operates.
Wakam's Business Model
It is one of the first companies in Europe to utilize the famous "open insurance", a trend that is currently beginning to take form in the global market.
"Open insurance" signifies that Wakam, a primarily B2B digital insurance company, may offer its products and services to all types of distributors - whether inside or outside the insurance market!
Adapting to contemporary times, Wakam believes that the future lies in "embedded insurance", i.e. insurance designed and provided along with the product or service purchase.
Thus, Wakam developed and operated a highly sophisticated digital platform that permits the combination of different products and services. This platform, also known as "Play & Plug", provides the flexibility and autonomy to distributors to combine and launch insurance solutions suitable to the needs of the end customer whom they serve according to specific parameters (i.e., coverages and coverage limits, participation rates, prices, commissions)
These are accomplished 100% digitally and just in six weeks - or even in a day, for some products!
Wakam currently offers its products in 32 countries, including Greece, and collaborates with more than 370 distributors across Europe, offering a wide range of insurance solutions and improving the customer experience who can now have insurance "on-demand".
Wakam's business model characteristic impact is that, at the moment, the company oversees about 600,000 contracts while accepting about 300,000 requests per day within its system!
Wakam's partners can be confident that on its digital platform, they will find all the tools and guidance needed to compose a personalized proposal at all levels, including pricing.
Wakam is one of the first companies to offer insurance as a service (Internet Provider as a Service - IpaaS), and that is why it is certain that it will soon achieve its goal of becoming the most prominent digital insurance company in Europe!