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MyPolicy Group has snapped up industry veteran Roger Ramsden (pictured) to serve as group chief executive.
Announcing the appointment, MyPolicy said the role was created to align its discrete telematics, risk pricing, and data analytics offerings within a single entity amid rapid growth.
According to the insurtech, its core telematics business has accelerated over the last two years following the swoop by private equity firm Inflexion. Meanwhile MyPolicy has developed a risk pricing engine and also plans to build out its big data analytics capabilities.
“Roger’s appointment comes at an exciting time for the company and, crucially, marks the creation of the group with separate, focused divisions,” noted group chair Mark Wood. “Patrick Quinn continues to lead our core telematics broking business, but our new structure will also allow us to harness our unique intellectual property and develop innovative products in new areas.
“The insurance industry is changing – disrupted by insurtech challenges and the prospect of autonomous vehicles – and we believe our technology and model means we’re well placed to benefit from this evolution. Roger’s extensive experience across the UK’s insurance sector will provide invaluable leadership through our next phase of growth.”
The new group CEO is a seasoned executive whose experience includes time spent at Saga, RBS Insurance, and Prudential.
“MyPolicy Group is working at the cutting edge of innovation in risk pricing, which was the main attraction for me in taking up this role,” commented Ramsden. “Given the scope of MyPolicy Group’s proprietary data analytics capabilities and our growth ambitions, there is a need to align the group under a single, integrated strategy.
“We aim to be the go-to solution for the next generation of precision pricing. Both consumers and underwriters are benefiting from the enhanced transparency and flexibility afforded by advancements in the use of data to price risk, and this will remain a key driver of MyPolicy Group’s strategy.”
