Timo Hertweck to join ELEMENT Executive Board
The Management of the white-label product factory for insurance nowcomprises CEO Dr Christian Macht as well as Dr Wolff Graulich, Timo Hertweck,Sascha Herwig, Iryna Zhovtobryukh and Anders Johnsen.
Berlin, 2 September 2019 – the SupervisoryBoard of ELEMENT Insurance AG has appointed Timo Hertweck as a Board member. Hewill be using his many years of industry expertise, including his last job as Managing Director of theinternational insurance agency Südvers and previously as a Board member theinsurance company Würzburger Versicherungs AG. At ELEMENT, he should be headingup three division: Sales, Insurance Products and Insurance Project Steering.
TheExecutive Board of ELEMENT Insurance AG will be comprised of its Chairman, Dr Christian Macht, as well as DrWolff Graulich, Timo Hertweck and Sascha Herwig. The management team has beenexpanded to include Iryna Zhovtobryukh (Chief Technology Officer) and AndersJohnsen (Chief of Staff).
“With Timo Hertweck on board, we’vesucceeded in gaining another experienced industry specialist at ELEMENT. TheExecutive Board and the entire ELEMENT team now consists of experts ininsurance, technology, digitisation and economics. This means we’re now in anideal position to continue our strong expansion,” says Dr Christian Macht.
ELEMENT Insurance AG is a product factoryfor insurance and a leader in insurance digitalisation. It is the first young company licensed by the German Federal FinancialSupervisory Authority (Bundesanstalt fürFinanzdienstleistungsaufsicht) as a direct insurer for non-life insurance,which enables ELEMENT to act as a risk carrier, including claims settlement, in28 countries across Europe. Founded in March 2017, ELEMENT offers a uniquetechnology platform (‘Insurance as a Platform’) with a focus on the B2B2X valuechain: ELEMENT develops for its more than fifteen partners from variousindustries – from e-commerce to established insurers – custom-made, innovativewhite-label insurance products at record speed. These products are thenmarketed by the partners under their own brand. ELEMENT has its headquarters inBerlin. End of 2018, ELEMENT closed the Series A with a total of EUR 29 Millionin investment.