Ex-Axa board member goes to Element

Insurance expert Astrid Stange wants to come up with new technological approaches, business models and business areas for the insurance start-up.

An insurance veteran is to help a Berlin insurtech get off the ground: Astrid Stange is to become co-CEO of Element Insurance AG. All that remains now is for the Federal Financial Supervisory Authority (BaFin) to give its approval. Stange comes from the Axa Group, the world's largest insurer, according to the company. Her responsibilities there included the areas of innovation, data and technology.

At Element, Stange will be responsible for similar areas. She is to further develop the company's technology and its business model. She is to expand the company's innovation team. Element also hopes that she will be able to take the company into the growth phase. "I am deeply convinced that technology and data are the most important business areas for insurance companies today," says Stange. "I am therefore delighted to be able to develop new business models and business areas at Element with new technology approaches."

Element has set itself the goal of bringing the areas of insurance and technology closer together. The company claims to be Germany's only fully cloud-based insurtech to date. Element has a BaFin license as a primary insurer for property and casualty insurance. This allows the company to operate as a risk carrier in all EU countries. Stange started at Axa Germany in 2014. There, she worked her way up to become a member of the Management Committee and Chief Operating Officer of the AXA Group as well as CEO of the tech provider AXA Group Operations.