Richard King stands down from ingenie – Chris McKee becomes CEO
ingenie today announces the departure of its CEO and co-founder, Richard King.
Having played an integral part in launching ingenie and turning the brand into one of the leading insurers for young drivers, Richard will step aside in June after an orderly process of transition. Chris McKee, the company’s COO and co-founder, will become CEO.
Richard leaves on the best of terms and by mutual agreement of both the ingenie board and its parent company Quindell.
Having dedicated himself wholly to ingenie for the past five years, leading the company from start-up through to its eventual acquisition and international expansion, Richard intends to take a break to spend time with his family.
Since its inception in 2009, multi award-winning ingenie has become one of the most popular choices for under 25 car insurance.
From the outset, Richard has been a leading light; pioneering black box technology in a sceptical industry, communicating and marketing to a younger audience via social media, and creating innovative ideas to improve both road safety and loss ratios, such as ingenie’s Driver Behaviour Unit.
Commenting on his departure, ingenie Chairman Steve Broughton said:
“As co-founder and CEO, Richard’s contribution in driving ingenie from an idea to what it is today cannot be over stated. However, we respect his decision to move on and take some time out. He leaves behind a flourishing business and strong leadership team who will ensure ingenie’s continued success and growth, with our roll out in North America already well underway.
I’m delighted that Chris McKee will take over the reins as he, like Richard, has been with the company from start-up. Chris has over 20 years’ experience of launching and running innovative UK and international insurance businesses and is ideally placed to ensure a smooth transition.”
Outgoing CEO Richard King said:
“It’s been an incredible five years launching and developing ingenie and I’m immensely proud of what we’ve achieved. Having built a successful and profitable business; completed the acquisition process with Quindell; and launched the brand in North America, my contribution to the company has now reached its natural end - so the time is right to go.
“I am confident that a rejuvenated Quindell will provide ingenie with a great parent platform from which the business will continue to expand and flourish. I know the ingenie team are more than capable of ensuring the company goes from strength to strength.
“On a personal note, I have recently got married and have a new baby on the way, so I’m looking forward to taking some time out with my family and continuing my charitable work in the field of road safety for young drivers.”
Incoming CEO Chris McKee said:
“Having been with the company since its inception and as a co-founder of the business, I’m delighted to take over as ingenie CEO. My priority is to drive and continue our growth working closely with Quindell. I wish Richard the very best for the future and have every confidence that the ingenie team I will now lead can continue the company’s success.”
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ingenie is an innovative new way of insuring young drivers. We exclusively insure 17 to 25 year olds who often struggle to find affordable premiums elsewhere. Our policyholders join a community of young drivers who benefit from ingenie black box telematics technology that constantly assesses their driving performance.
We build a picture of a driver's individual style, awareness and safety on the road, rewarding those who drive well with cheaper insurance premiums and helping those who need improvement become safer.
ingenie's efforts to improve road safety have been recognised with a Prince Michael International Road Safety Award for 2013.
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