Honey founder Richard Joffe will become executive chair of the business, with former Allianz Australia COO David Krawitz taking over as CEO.  

Mr Joffe says he will “focus on strategic opportunities” for the home and motor cover insurtech following five years as chief.  

Mr Krawitz has been on Honey’s board since April last year and says he aims to lead the “next stage of ... growth and development”.  

“I am deeply familiar with the many competitive strengths of this business,” he wrote on LinkedIn. 

“And while I know there is plenty of hard work ahead, I could not think of a better business or better group of people to be working with.”   

Mr Krawitz spent 15 years at Allianz, across several senior positions, and four years at Insurtech Gateway Australia before joining Honey.   

Honey launched in 2021 with a focus on using tech solutions for risk monitoring and estimating building repair costs. It has established several high profile partnerships, including with Aldi, as the supermarket launched insurance products last year.

It is underwritten by RACQ Insurance, which IAG recently acquired for $855 million. An IAG spokesperson has confirmed the insurer will continue backing Honey.

“The current underwriting and distribution arrangements with third-party brands, including Honey Insurance, remain unchanged following IAG’s acquisition of RACQ Insurance,” they told insuranceNEWS.com.au.