A lack of real solid data to support the business model, huge changes in strategy throughout my time there and a really questionable financing model. C-level was extremely toxic and anyone on the c-level was power-hungry, playing games with each other but also had complete disregard for any of the "underlings". The c-level had planned a huge restructuring plan leading to the dismissal of a fair share of the company, although restructurings can happen for "economic reasons", in this case, the only reason a restructuring had to happen was because of the terrible mis-management of human resources and the business itself, corona actually had a positive impact on the business. The idea of an international insurance distributor is ludicrous, indeed each country is governed by different insurance products, regulations and particularities. wefox sold itself as wanting to be the first global insurtech and they failed at this miserably at that. A planned expansion to Japan was miscarried, planned expansions in many different other European countries was also aborted. In essence, wefox now seems to just be going in a Leveraged Buyout style strategy. Finance the company with a ton of debt and buyout competing brokerage business to expand it's reach, in the hope that maybe one day shareholders will be able to cash out with another crazy tech IPO. There is nothing tech about wefox, they are just flipping a house.
