Insurtech wefox hires new COO from Generali after record funding

Berlin-based digital insurance company  wefox has hired a new chief operating officer (COO) from Generali after its "record-breaking" Series C funding round earlier in June.

David Stachon will take up his new position as COO of wefox on July 1, and focus on driving the company’s global growth strategy.

Stachon has previously worked at DKV/ MR Group (Deutsche Krankenversicherung AG), ERGO Group, The Royal Bank of Scotland, and Directline Group. He was CEO of Directline Germany and a member of the International Management Board. In 2016, he joined the Generali Group as CEO of Cosmos Direkt, joining the Generali Germany Holding Board in 2017 as chief business officer. He was responsible for the turnaround of the Broker Business in Germany (as CEO of Dialog Versicherung), the Direct Business as CEO of Cosmos Direkt and the Cooperation Business of Generali in Germany.

The move comes after wefox recently raised a record Series C investment round of $650 million which gave the company a post money valuation of $3 billion.

Julian Teicke, CEO and founder of wefox, said: “When we announced our record-breaking Series C earlier this month, we were very clear about our intentions. We will invest in technology and growing our global footprint. wefox will be the number one personal insurer within a decade.

“David’s appointment demonstrates our commitment to achieving these goals. I am confident that with his experience and expertise in insurance and digital technology, he will deliver on our objectives.”

Stachon commented: “I am delighted to be joining wefox at such an exciting time and just off the back of a huge Series C investment round. “ wefox is already disrupting the industry and is clearly reinventing insurance. Insurance was created to be a force for good.  It was all about people taking care of people.

“At wefox, that’s what insurance is once again. Using technology we make insurance about preventing risk and keeping people safe. I am determined that we will do more of that for more people around the world.”

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