TravelCard has appointed Michael Storozhev as its new chief underwriting officer (CUO) as it prepares to relaunch in the market.
Storozhev will join TravelCard from Cover-More, where he was the general manager for strategic underwriting for Australia and New Zealand and the head of global insurance products and underwriting. He also served as the company's head of underwriting for Asia from 2019 to 2021 and as a senior underwriter from 2016 to 2019.
Aside from working at Cover-More, Storozhev worked on the actuarial teams at Insurance Australia Group and the Royal Automobile Club Queensland.
“There is a huge opportunity in the travel insurance space for a new market entrant to shake things up, and I can't wait to drive a unique customer experience with TravelCard's real-time travel insurance proposition,” Storozhev said, as reported by ITIJ.
“As chief underwriting officer, [Storozhev] will be responsible for underwriting and pricing, and he will also be leading the charge on our innovation agenda in travel insurance and beyond,” said Peter Klemt, CEO of TravelCard.
In early 2020, TravelCard implemented measures to help its customers who took a hit from the COVID-19 pandemic.
In October 2022, the insurer ceased business operations due to significant reductions in international travel. It continued to serve its policyholders, but stopped quoting and binding new travel insurance policies.
Early this year, TravelCard announced that it will relaunch in the Australian travel insurance market in the second quarter of 2023.
