Insurtech Wefox appoints Paul Onnen as chief technology officer

German insurtech Wefox has appointed Paul Onnen as its new chief technology officer.

Onnen is taking over the role from Sergi Banos, who has been promoted to chief platform officer as part of the company’s plans to launch a platform connecting “the entire insurance ecosystem”.

Banos will now lead the Wefox platform business strategy, while Onnen takes over the lead of the company’s technology team.

Onnen brings more than 30 years of experience in both business-to-business and business-to-consumer Software-as-a Service platforms and products to the role.

“Paul [Onnen]’s impressive track record and extensive knowledge in the tech industry aligns perfectly with our mission to revolutionise the insurance sector,” Wefox founder and CEO Julian Teicke said.

“His leadership will play a crucial role in guiding our business towards new horizons and delivering world-class strategic leadership to our technology operations.”

Onnen joins from PayFit France, where he was technology leader for a year and a half, and has previously held senior roles at Amazon, Google and Expedia.

“Wefox is an exciting company and the opportunity to transform the insurance industry through cutting-edge technology is a challenge that I could not resist,” Onnen said.

“It’s my mission to ensure that Wefox remains at the forefront of innovation, and I’m thrilled to have the opportunity to contribute to this journey.”

Connecting insurance companies, distributors and customers, Wefox sits slightly off from its competitors in not going directly to consumers.

The promotion of Banos to lead the implementation, development and operations of its future platform looks like a big move for the fintech in its plans to be the “largest insurance player worldwide” in 2030.

The company raised $55m in debt funding from Deutsche Bank and UniCredit earlier this month, keeping its valuation level at $4.5bn.