German InsurTech WeFox plans to launch a product that leverages data from smartphones and connected devices to alert users of impending danger, according to an interview reported by Reuters.

The product, expected to be released in 2022, is called WeFox Prevent, and development is being handled by a Paris-based team of ex-Samsung employees.

Berlin-based WeFox claim the solution will use data from smart devices to warn users about potential dangers, for example by informing drivers about poor road conditions.

WeFox highlighted it will not process user’s personal data to make recommendations about insurance premiums.

WeFox, founded in 2015, raised a total of $235 million in Series C funding from investors in 2019, led by Omers Ventures in conjunction with Merian Chrysalis and Samsung Catalyst Fund.

The InsurTech is also reportedly in negotiations with investors regarding a new funding round, according to sources reported by Reuters.

WeFox reported revenues of €119 million last year, a doubling year-on-year.

ONE, WeFox’s parent company, is currently rebranding to Wefox Insurance AG, and said it expects revenues to double this year ahead of plans to expand into Italy, and to market its own brand in Poland and Switzerland.

“We don’t just want to be an insurer that hands out policies,” chief executive Julian Teicke told Reuters in an interview. “With this team on board we will develop into a risk prevention business, powered by technology.”

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