Monzo snaps up DLG venture boss ‘to lead charge into insurance’

Phoebe Chibuzo Hugh has announced she will be leaving Direct Line Group (DLG) to lead Monzo Bank’s entry into the industry.

Chibuzo Hugh, who was most recently DLG’s venture chief executive, said in a LinkedIn post yesterday (5 November 2023), that she would be starting an “exciting new chapter”.

“I’ll be joining the visionary team at Monzo Bank to lead their charge into insurance, making it as easy, personalised and delightful as we all deserve it to be,” she said.

Back in 2020, Monzo launched travel and phone insurance options as part of its premium account offering.

Chibuzo Hugh said Monzo had “revolutionised banking, savings, lending and investments” and that there was further opportunity in the insurance industry.

“Soon, we’ll bring this to insurance,” she said.

“The insurance industry has made some progress, but it’s been slow and the opportunity is still as clear and compelling as it’s ever been.”

Experience 

Chibuzo Hugh joined DLG in 2020 after the insurer acquired her digital insurance brand Brolly.

The brand, which was founded by her in 2016, offers policy management platform and helps customers consolidate all their insurance into one place.

Chibuzo Hugh said she would take all the learnings in her career into her next phase with Monzo.

”I can’t wait to take all my learnings — from starting at Aviva, to building and exiting Brolly and working with our acquirer DLG — into this next phase with Monzo,” she added.

”There is no better launchpad for the future of insurance than the UK’s favourite challenger bank.”