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Olaf Novak has a diverse work experience spanning over several companies and roles. Olaf started their career in 1997 as the Managing Director at University Karlsruhe, where they worked until 2000. Olaf then joined Allianz SE Reinsurance as a Senior Analyst in Cat Management from 2000 to 2001. Following this, they served as the Managing Director at International Reinsurance Company SA, Luxembourg from 2001 to 2005. In 2005, they returned to Allianz SE Reinsuance as the Head of Allianz Re Cat Management until 2009. From 2010 to 2013, they held the role of Chief Risk Officer at Allianz SE Reinsurance, and from 2013 to 2016, they served as the Chief Portfolio & Analytics Officer. In 2016, they became the Managing Director of Reinsurance at Allianz SE Reinsurance until their departure in 2021. After a period of garden leave in 2022, they joined OroraTech as a Business Development - Insurance Solutions professional.

Olaf Novak attended the Karlsruhe Institute of Technology (KIT). However, no specific information regarding the start and end years, degree name, or field of study is provided.