Change in management at Coya

The founder is leaving, the Co-CEO is taking over the management and the Management Board is being expanded: There are personnel changes at insurtech Coya.

Insurtech Coya is not resting on its laurels: Co-CEO Max Bachem is taking over the company's Management Board with immediate effect, according to Finance Forward. His partner and founder of the start-up Andrew Shaw is leaving his post and will only advise the insurtech in future. Julia Sharonova, who has only been with Coya as Chief Actuary since March, and Nigel Jankelson, who joined the insurtech in 2020 from New York investment bank Macquarie as Head of Operations, will also join the Management Board. Bachem herself started at Coya, moved to insurance company Axa in between and has only been back at the insurtech since the beginning of the year.

Founded in 2016, the company offers insurance and is one of the few insurtechs in Germany to have a license from Bafin. When Coya was launched, it was the great hope of the industry. Venture capitalists such as Peter Thiel's Valar Ventures invested in the company. Shaw was able to raise ten million US dollars right at the start. However, the figures did not develop as expected and Finance Forward recently reported on the start-up's difficulties in attracting investors. However, existing investors continued to invest and gave five million US dollars.