Press release

ELEMENT appoints Dr. Christian Macht as designated CEO

Berlin, April 11, 2018. The Berlin based insurtech ELEMENT, the first technology platform with a BaFin insurer's license for property and casualty insurance, appoints Christian Macht as designated CEO, on May 1st, 2018. Macht, who held top positions in the technology company Rakuten, among others, joins the leadership team including board members Wolff Graulich and Sascha Herwig, CTO Henning Groß and CSO Richard Hector. ELEMENT's business model is based on integrating end-customer insurance products into the IT infrastructure and distribution channels of partners who either do not have an insurance license or prefer to outsource this process.

"Christian Macht combines strong leadership and digitization expertise with a strong international track record. He will drive our pan-European expansion with a great deal of expertise, passion and experience," said Ramin Niroumand, Chairman of ELEMENT. The team around Niroumand, CEO of fintech company builder FinLeap, played a key role in founding the digital insurance platform just over a year ago.

"I am very much looking forward to my role at ELEMENT, whose unique positioning I am fully convinced of", says designated CEO Dr. Christian Macht. Macht believes in first building on the success of the founding year through deepening existing partner relationships and streamlining processes. In the near future there will be a focus on building further products and processes for ELEMENT’s partners. "I learned in my previous stations how important completely digitized end-to-end processes are," says Macht. "In this perspective, I would now like to transfer this to the insurance industry and, together with my new colleagues, win further partners throughout Europe - and in general, help the insurance industry to develop further."

Tabular CV Christian Macht

· 2017 to 2018: consultant and investor

· 2013 to 2016: Rakuten CEO Germany, Supervisory Board Rakuten Europe Bank and most recently also CSO Europe

· 2011 to 2013: Groupon COO Central Europe, previously VP Groupon China and MD Gaopeng (Tencent / Groupon Joint Venture)

· 2005 to 2011: The Boston Consulting Group, most recently as project leader

· Study of Economics and Sinology in Tübingen, Taipei and Edinburgh, legal doctorate in Tübingen

About ELEMENT

ELEMENT, the first technology platform with a property-casualty insurance (BaFin), was founded in March 2017 and offers "Insurance-as-a-platform" with a B2B approach. For its partners from various industries, from e-commerce to the classic insurer, ELEMENT creates individual and tailor-made insurance products for the respective end customer. In this way, ELEMENT develops modular and innovative insurance products, digitally and within the shortest possible time, and is a pioneer in the field of insurance digitization.

Press contact ELEMENT:

Ina Froehner

Head of Communications

Mail: presse@element.in

Mobile: +4915128963679