WeCover offers a personalized auto insurance experience, rewarding good driving behaviour and encouraging responsible driving in a collaborative economy set-up

Country: Francewecover1

Year: 2015

Concept

  • WeCover offers insurance products in the sharing economy domain where responsible driving behaviour is rewarded with monetary benefits
  • It gathers drivers with good driving behaviour, puts them in a pool, creating a common online account for premiums and claims payments. At the end of the year, the remaining money in the account (minus any claim pay-outs paid of the users within the group) is equally distributed amongst the drivers leading up to 50% of savings
  • The app also doubles up as a driving coach, providing regular customized feedback and tips on improving driving behaviour
  • WeCover is developed in partnership with GECO and IFP Energies Nouvelles

Consumer Benefits

  • Responsible driving behaviour: the app offers a driving coach that guides the driver to take concrete measures in order to drive responsibly
  • Monetary rewards and savings: according to WeCover, the best drivers on the app are reimbursed up to 500€ on the premiums of their current insurance contract
  • Community: drivers of the WeCover community are people with commendable driving behaviour, and are key to engaging and inspiring other drivers thus creating a fruitful impact

How To Use

  • Users download the WeCover by GECO app, and manually input or automatically align their vehicles’ parameters in the app with an OBD
  • They then choose the group of drivers that match their profile or preferences, and become a part of the group to benefit from insurance-related savings and minimizing claims

Illustration

Click on the link below for an interview with WeCover (French only)

http://bfmbusiness.bfmtv.com/mediaplayer/video/la-startup-wecover-devoile-l-assurance-collaborative-reservee-aux-bons-conducteurs-0404-788016.html