Baloise, a Swiss insurance company, has hired a new manager responsible for the digital transformation of the firm. The move comes in recognition of the importance of fintech for the industry.

Alexander Bockelmann, 44, will start as chief IT officer (CTO) of Baloise on February 1, 2019, the Basel-based company said in a statement on Monday. The German citizen joins from Uniqa Insurance in Austria, where he was appointed as chief digital officer.

Two years ago, Baloise launched its «Simply Safe» strategic program in a bid to prepare the company for the digital age. The appointment of Bockelmann and creation of a Group IT division within Baloise shows the commitment of the company to this change.

Bockelmann will report to CEO Gert De Winter and become a member of the executive committee of Baloise.