If You're Not Paying, You're The Product
- The Internet
Some of you might already know Finance Fox - “My Insurance Hero”. This is going to be a short review with my experience I had using them for about a year now.
Finance Fox is a platform/app that allows you to manage your insurances and other financial contracts that you might own. They also claim that they can optimize those for you.
Their promise/service is that they claim to be your personal, always available broker that handles all your claims, cases and problems you might have with your contracts for you.
They work by taking away the mandate from your original agent and cashing in their percentage of your annual fees.
Not only was their service slow and miserable, it took 1.5 months and more interaction with the insurance compared to dealing with them directly in my test. In addition to that they are also not hiding the fact that they are only interested in your data and your agent’s percentage (more to that in a second).
In the one claim I filed through Finance Fox I missed a 35€ reimbursement because they didn’t file the receipt for my prescriptions correctly and I ended up sorting things out with the insurance myself.
After I moved to the US, I wanted to cancel my traveler’s insurance, so I’ve sent a message to Finance Fox asking for cancellation of my insurance. It took two messages and 8 weeks to get them to cancel my insurance, when I shortly after canceled the mandate, they deleted all my info, locked me out and told me they won’t cancel the insurance now.
My verdict, stay away from them as far as you can! The bit more convenience you get is what you’ll end up paying with your money!
- You get an app to handle your insurance.
- My personal agent changed four times within one year
- Your personal agent isn’t really the one handling your claims. You really have multiple people handling one claims, so person B might not know what person A did.
- Once you cancel the mandate you loose all your documents
- Processing time takes ages