Martin Werth, the founder of UnderwriteMe, is to step down from the protection platform at the end of next month.
Werth (pictured), who founded UnderwriteMe in 2012 with the backing of Pacific Life Re, will become a non-executive director and will continue to be closely involved in the business, the company said in a statement.
James Tait will take over as UnderwriteMe CEO. In his current role as head of protection at Pacific Life Re Europe and a non-executive director of UnderwriteMe, Tait has been directly involved with UnderwriteMe from the outset.
Werth said: “This has been a really hard decision. Setting up and growing the business is a full-on venture that can’t be sustained forever. The best time to step down is following a record-breaking year.
“We have built a great management team and James is an excellent person to lead the business in its next growth phase.”
Tait said: “UnderwriteMe has experienced phenomenal growth since it launched in 2014. The business is now a leading provider of underwriting technology in many markets around the world and the protection platform in the UK is helping intermediaries transform the way protection is sold.
“I am looking forward to leading the team and the business through its next phase of growth and building on the strong foundations that Martin Werth has put in place. I would like to thank Martin for his vision and commitment to UnderwriteMe.”
Pippa Keefe, head of sales & marketing for UnderwriteMe has also made the decision to seek a new challenge and will be leaving the business at the end of March.
Keefe said: “I am proud of what the business has achieved during my time at UnderwriteMe. I leave behind some very talented people who I know will flourish.”
Nilesh Patel, currently head of underwriting and claims development at Pacific Life Re, will be seconded into the head of sales and marketing role, following Keefe’s departure.
UnderwriteMe is now the largest supplier of underwriting rules engines in the UK & Ireland and Australia and has growth plans in Asia.
The platform provides intermediaries with a single process to compare multiple insurer underwritten terms and benefits and buy immediately without leaving the platform.