wefox - the Berlin-based digital insurance company - has appointed H.S.H. Prince Max von und zu Liechtenstein to its board with immediate effect.
H.S.H. Prince Max von und zu Liechtenstein, who is the CEO and chairman of LGT Group, which is an investor in wefox, will work alongside the CEO and founder of wefox, Julian Teicke, and the recently-appointed chairman of the board, Young Sohn, the former president of Samsung Electronics.
H.S.H. Prince Max von und zu Liechtenstein said: “I am delighted to be joining the wefox board. Wefox is one of the most successful European tech companies with great potential for further development on a global level as well. The insurance sector is an exciting market with large volumes. I believe wefox has the potential to digitally disrupt and transform this industry.”
H.S.H. Prince Max von und zu Liechtenstein, who holds an MBA from Harvard Business School, has started his professional career in the private equity industry where he worked from 1993 until 2005 for JPMorgan Partners and IK. He has been the CEO of LGT Group since 2006 and was appointed to the role of Chairman of LGT Group in 2021. He is also the founder and Chairman of Lightrock, a leading impact investing firm with over CHF 3 billion in client assets under management.
Mr. Teicke said: “This is a strong vote of confidence in our business following the appointment of Young as our chairman, and now with H.S.H. Prince Max von und zu Liechtenstein joining our board we are building a solid leadership team to take wefox to the next level of our growth.
“In the last six years, wefox has continued to grow by doubling revenues every year and we are on track this year to double our revenues again to €650m with a clear path to profitability. We have demonstrated that our model of indirect distribution coupled with advanced technology to streamline operations and improve the overall customer experience is very effective.
“This year we will expand into the Netherlands and in 2023 we will begin our drive for international growth starting with the US and Asia. All of which will steer wefox to become the leading insurtech in the world by the end of the decade,” added Mr. Teicke.