wefox, which claims to be among the leading Insurtech firms, has appointed Dominik Ulrich as Chief Risk Officer (CRO), with immediate effect.
Prior to this role Mr. Ulrich was working as Head of Internal Audit at wefox.
Mr. Ulrich will now be expected to “lead the Group Risk Advisory function, including creation of a dedicated Assurance function, and oversee the Insurance Carrier’s Risk Management.”
Reporting to the wefox CEO as a member of the extended Executive Committee, Dominik shapes and “enhances the organisation’s risk management strategies.”
Julian Teicke, CEO and founder of wefox, said:
“Dominik’s innovative mindset, pragmatic approach, and deep understanding of technology make him the perfect choice to lead our risk management efforts. He has already contributed significantly to our business, it’s a real pleasure to see him promoted to this position.”
Dominik Ulrich’s career spans almost 20 years, with a rich background in building and leading global teams in Internal Audit, Information Risk Management, and Risk Advisory.
Mr. Ulrich said:
“I’m excited to take on a new role within the wefox team at this pivotal moment in the company’s journey. My focus will be on contributing to its continued growth, driving profitability, and serving its diverse stakeholders. This advancement empowers me to showcase my expertise prominently, aligning seamlessly with the company’s vision and commitment to delivering excellence.”
Before joining wefox, Mr. Ulrich has reportedly “served as the EMEA Technology and Data Audit Lead, Group Audit IT Competency Lead, and local subsidiary Head of Audit at Zurich Insurance Group.”
He successfully oversaw design and execution of “a complex audit plan covering technology, data and business risk exposures, leveraging data analytics-driven insights, and led the continuous enhancement of the technology audit function‘s approach globally.”
His previous roles include “serving as a Senior Audit Manager at Citibank in Singapore and as an Audit Manager at Citigroup Global Markets in Germany. Mr. Ulrich’s career also includes key positions at KPMG in Germany and the U.K.”
Dominik Ulrich holds “a Master’s degree in Economics from Ruprecht-Karls-University, Heidelberg, Germany.”
He is also “a Certified Information Security Manager (CISM) and Certified Information System Auditor (CISA).”
As covered, wefox was founded in 2015 “by Julian Teicke, Fabian Wesemann and Dario Fazlic.”
wefox is an insurtech driven by “a single purpose: enabling people to be safe through empowering insurance.”
Since launching in 2015, the company claims it has “doubled its revenues every year to reach US$580 million in 2022 serving more than 2m customers across Austria, Germany, Italy, Poland, The Netherlands and Switzerland where wefox currently operates.”
In May 2023, wefox secured US$55m credit facility “from J.P. Morgan and Barclays alongside a $55m second close in its series D at US$4.5bn valuation.”