Berlin-based insurtech firm wefox Group has appointed Dr David Stachon as the Chief Operating Officer (COO).
Stachon joins from Cosmos Direkt, where he was CEO and will take up his new position next month and will focus on driving the company’s global growth strategy.
He started his career with McKinsey, where he worked for seven years specialising in Insurance and Healthcare.
After a short period at Novartis, he joined one of his former clients Deutsche Krankenversicherung AG (DKV) as the Director of Sales leading a tied agent salesforce for five years.
He then expanded his experience to Asia, leading the market entry of DKV in South Korea.
He was appointed to the role of Chief Marketing Officer for ERGO Group and led the successful rebrand of the ERGO Group. The Royal Bank of Scotland was Strachon’s next appointment where he built the Directline Group ahead of IPO.
He was CEO of Directline Germany and a Member of the International Management Board of the Directline Group.
In 2016 Stachon joined the Generali Group as CEO of Cosmos Direkt, joining the Generali Germany Holding Board in 2017 as Chief Business Officer.
The move comes after wefox recently announced its record Series C investment round of $650m which gave the company a post money valuation of $3bn.
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 added: “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.”