The InsurTech Wefox has hired on a former high-level Zurich executive in a key role, three months after raising a record $650 million in new financing.
Peter Huber, formerly CEO of Zurich International, is joining the Berlin-based digital insurer as its Chief Insurance Officer.
Huber, a 20-year insurance industry veteran, signed on with Zurich in 2013, initially as CEO for Zurich Global Life Singapore. Starting in 2015 he was President, Director and CEO of Zurich Topas Life (Indonesia). He also has previous executive experience at Swiss Re and Allianz SE, with a focus through his career primarily on Europe and Asia.
Julian Teicke, Wefox’s founder and CEO, said that hiring Huber means the company is following through on growth plans first announced when the company raised its massive $650 million Series C financing in June. The round is considered record-breaking for InsurTech venture capital investments.
“We clearly stated our intentions back in June when we announced our record-breaking Series C investment … we will invest in technology and growth globally and Wefox will be the number one personal insurer within a decade,” Teicke said in prepared remarks. “With [Huber’s] appointment, I truly expect to see those intensions accomplished.”
Huber, in prepared remarks, said Wefox is in synch with his own beliefs that insurance has a role to play “in sustaining societies and helping to keep people safe” through risk prevention.
“I have found an organization that believes as I do and is taking big, bold, disruptive steps to act upon what is now our shared purpose,” Huber said. “I am looking forward to joining the team and driving our insurance strategy, innovation and international expansion together …”
The company Wefox, which launched in 2015, is the corporate parent of Wefox Insurance, which is its in-house regulated insurance carrier. As well, Wefox also offers digital tools that help insurance agents streamline and automate labor-intensive processes.