Embroker Expands C-Suite with Chief Insurance Officer and Chief Technology Officer Hires
Insurtech deepens executive bench to drive more volume and velocity through its digital business insurance platform
SAN FRANCISCO, May 25, 2021 (GLOBE NEWSWIRE) — Embroker, the digital business insurance platform making it radically simple to get insured, today announced the appointment of two industry experts to the roles of Chief Insurance Officer and Chief Technology Officer. The new executive leaders bring critical experience and expertise to the company as it continues to reimagine and rebuild a new approach to business insurance.
Steve Prymas, Embroker’s new Chief Insurance Officer, brings over 20 years of experience to the company, having served as Vice President, Specialty Lines Manager, and most recently, Global Chief Underwriting Officer of Cyber for Gen Re. Previously he served at The Hartford for 17 years, with increasing responsibility ultimately culminating in his position as Vice President, Head of Hartford Financial Products. The addition of Mr. Prymas allows Embroker to further develop innovative specialty insurance products for business verticals.
Jonas Edgeworth joins Embroker as the new Chief Technology Officer, with over 20 years of experience in FinTech, data science and cyber security. Most recently he served as the Chief Technology Officer at Veem, and prior to that as the Vice President of Engineering, Head of Interest Rate Products Technology Goldman Sachs. As Embroker’s CTO, Mr. Edgeworth will lead the continued development of the first digital platform for business insurance.
“Existing options for business insurance are rooted in legacy systems and antiquated processes, a model that has become unsustainably inefficient in a modern world. Embroker is radically simplifying business insurance by removing all traces of those legacy systems, and replacing them with a digital-first platform that enables any company to get the right coverage at the best price,” said Matt Miller, Embroker CEO. “Steve and Jonas will play an instrumental role in the scaling of our platform, allowing us to target more markets and truly transform business insurance.”
Embroker provides a fully customized experience in a streamlined way so the customer is never overwhelmed. Embroker applies modern data-driven underwriting models to better assess risk, and create policies and premiums that protect companies against that risk. This unique algorithmic-based risk management reduces premiums for businesses by up to 20 percent. The Embroker experience is both digital when you need the ease of technology and personal when you want the guidance of experts. All of Embroker’s digital insurance products are instantly underwritten by Embroker’s insurance platform and are fully backed by A+ rated reinsurers including Munich Re and Everest Re.
About Embroker:
Embroker is transforming commercial insurance by making it radically simple for businesses to get the right insurance at the best price. Embroker focuses on industry-specific coverage for the most complex and inefficient lines of insurance, such as Directors and Officers, Employment Practices Liability, Cyber, and Professional Liability. Embroker uses predictive modeling powered by proprietary technology to fully automate underwriting and make the buying process simple, fast, and more affordable. Through Embroker Access, Embroker provides partner agencies and wholesalers with the capability to offer all of Embroker’s industry-leading insurance products to their customers. Founded in 2015, Embroker is headquartered in San Francisco and has raised more than $50M in funding from leading Fintech and Insurtech investors.
CONTACT: Laura Kubitz 104 West Partners for Embroker [email protected]
