Insurtech wefox appoints former Samsung chief strategy officer

Berlin-based digital insurance company  wefox has hired former president and chief strategy officer of Samsung Electronics as the chairman of its board.

Young Sohn (pictured) is a Silicon Valley entrepreneur. Prior to joining Samsung Electronics, he served as CEO of Arm and Cymer (ASML). Under his leadership as CEO and board member, he took PLX Technologies, Synnex Technologies and Inphi public. He was also a seed investor in companies including Fungible, Graphcore, and Zoom.

Julian Teicke, CEO and founder of wefox, said: “I am delighted to announce Young as our new Chairman.  He brings such vision, experience and drive with him which I know are going to be a perfect fit for wefox as we continue to build on our intentions - to invest in technology and growth globally and make wefox the number one personal insurer within a decade – that we stated in June when we announced our record-breaking Series C investment round of $650m giving wefox a post-money valuation of $3bn.”

Sohn commented: “It is a privilege to be appointed as the Chairman of wefox. I have watched the business systematically act to realise its vision and put action behind its objectives and its purpose.  In reinventing the world of insurance through the deployment of technology, wefox is delivering digital experience and convenience for consumers. I am looking forward to continuing the success of wefox as we innovate, grow and help even more people around the world to be safe.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.