wefox, which claims to be the world’s leading Insurtech, has made three new appointments to its Extended Executive Committee.
Dr Ronny Fischer is appointed as SVP Strategy, Fabienne Doerig is appointed as SVP Operations and Dr Marc Olivier Morant joins the ExCo in his existing role as Group General Counsel and Company Secretary.
Julian Teicke, CEO and founder of wefox said:
“I am delighted that we have promoted current colleagues to join the extended executive committee. With Fabienne, Ronny and Marc the extended executive committee not only benefits from three exceptional professionals and talents, but also three colleagues, people who know wefox inside out and who are committed to furthering our common purpose – to keep people safe.”
With the appointment to the wefox extended executive committee, Ms Doerig and Dr Fischer extend “the scope of their roles and responsibilities to encompass the wefox Group as a whole. Dr Morant continues his responsibilities for the wefox Group.”
They join Julian Teicke, Fabian Weseman, Peter Huber, Sergi Banos, Laura Eschricht and Nicholas Walker.
As covered, wefox was “founded in 2015 by Julian Teicke, Fabian Wesemann, and Dario Fazlic. wefox is a category-defining insurtech platform that is connecting insurance companies, distributors, and customers, to give the world simple access to digital insurance solutions.”
The goal is “to keep people safe by making insurance 10x better through technology.”
wefox is “the parent company of wefox Insurance, which is the in-house regulated insurance carrier.”
As reported last month, wefox, a Germany-based Insurtech, has raised $110 million in Series D funding along with a $55 million revolving credit facility from Barclays and JP Morgan. The equity capital was raised at a valuation of $4.5 billion. wefox described the funding as buttressing its business model and path to profitability. Existing investors participated in the funding round along with new investor Squarepoint.
wefox said its Q1 2023 financial report delivered a record performance as the company grows.
Julian Teicke, CEO and co-founder of wefox, said they were pleased to garner the backing of such prestigious firms adding that the second close of their Series D ensures they can keep building on their international business.
“We have already taken important measures to fortify our business for the future and early Q1 financial performance shows that we are in good shape to navigate the challenges ahead and continue our international growth in a sustainable way.”
CFO and co-founder of wefox Fabian Wesemann noted that the market has shifted significantly in the past 18 months and they have “enhanced” their operating model as they chart a path towards profitability.
