Reinsurance technology firm Supercede has named Tom Spier (pictured above) as its chief commercial officer.
Spier was previously head of commercial and has contributed to steering the company through a period of rapid growth, according to an emailed news release.
Headquartered in London, Supercede specializes in the preparation of submission data and management of reinsurance deals. It reported a 500% increase in revenue over the past year and currently supports over 140 member companies globally, including insurers, brokers, and reinsurers.
As chief commercial officer, Spier is expected to lead further development of Supercede’s market strategies and operations.
CEO and co-founder Jerad Leigh emphasized the importance of Spier’s new role in the organization’s future, stating that his expertise will be “vital” to pushing the boundaries of “what is possible in reinsurance through digital solutions that tackle the inefficiencies of traditional systems/”
“Tom’s leadership has been instrumental in our strong growth and industry leadership,” said Leigh.
In response to his appointment, Spier shared his enthusiasm about his new responsibilities and the company’s trajectory.
“I am thrilled to step into this role at such a crucial time for our company,” he said. “This past year's growth has shown what we are capable of, and I am excited to lead our talented team as we continue to innovate and expand our reach in the global market.”
Earlier this year, Supercede shared data on the adoption of digital solutions in the reinsurance industry.
The company said the total number of users on its platform grew 43% compared to the previous year. The number of distinct reinsurance markets on the platform also increased from 145 last year to 194 this year.
“The insurance industry, especially in the reinsurance segment, is traditionally cautious in adopting new technologies,” Leigh said back in January. “However, our latest figures suggest a gradual but definite shift towards digital solutions, albeit at a pace that reflects the industry’s need for reliability and trust in new systems.”
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