Insurtech Ripe Thinking has welcomed industry veteran Laurel Powers-Freeling (pictured) as the new chair of its board.
Powers-Freeling brings to Ripe a proven track record in financial services, tech, and business growth. Aside from serving as CEO of M&S Money, she has held various senior executive, board, or non-executive positions for major financial institutions like Prudential, ACE/Chubb, Lloyds Bank Group, and the Bank of England. She has also made significant impact in fintech, currently serving as chair of both Uber UK and personal finance platform Moneybox.
“The Ripe team have an aptitude for innovation, the ability to digitally outpace the market and the tech infrastructure needed to change the future of insurance,” said Powers-Freeling. “Ripe’s developed a platform that can reach insurance customers in a hyper-targeted, efficient, and appealing way. For me, what is truly compelling about the business is that, while currently a bit modest in its footprint, it now has the formula - and the backing - needed to transform the sector - it’s a fintech primed to scale and win.”
The appointment of a new chair comes a time of acceleration for the company, said CEO Paul Williams, building on the momentum established by major investment from private equity firm Aquiline Capital Partners.
“We’re accelerating towards an exciting phase – with the opportunity to explore new markets and the ambition to become a household name,” said Williams. “We welcome our new chair at a pivotal time for Ripe. Laurel has unrivalled tech and financial industry expertise, and a track record of leading companies that are digitally transforming their sector. With Aquiline and Laurel’s strong belief in our potential, alongside significant investment now being deployed to scale up the business, we are on a path to redefine how insurance is done.”
Powers-Freeling is set to assume her new role from Colin Whitehead, who has stepped down as chair to begin his retirement.
“Colin has played an important part in the success, growth and unfaltering ambitions of the business over the past 14 years – and I’m sure he will continue to support Ripe from the sidelines,” said John Woosey, Ripe’s founder and managing director.
