Howden lands TMK vet to launch start-up innovation hub in London market

International insurance group  Howden Group Holdings has tapped a London market innovation veteran to establish a new platform for insurance entrepreneurs and start-ups to launch and scale their businesses.

Tom Hoad will join the group to lead this initiative after fulfilling his contractual obligations. He has been designing products, partnering with start-ups and leading product development in the London market for over 11 years as head of innovation at Tokio Marine Kiln.

Hoad was instrumental to the launch and development of Lloyd’s Production Innovation Facility, ‘PIF’ (now known as the Lloyd’s Product Launchpad), and has played a significant role in the growth and successes of Lloyd’s Lab.

In his new role, Hoad will be tasked to bring together expertise and resources from across both Howden and Dual to create an investment and risk incubation hub that will “proliferate” new product development in the London market.

The full-service innovation springboard aims to bring together funding, capacity, expertise, governance and distribution in one place.

David Howden (pictured), CEO of  Howden Group, explained: “It is crunch time for the insurance industry; with volatility higher than ever and the risks of tomorrow very different from those of today, we need to innovate to remain relevant, and we need to do it quickly.

“Tom’s unparalleled ability to identify great ideas and quickly assemble and motivate diverse project teams will enable us to create the perfect platform for entrepreneurs to transform their start-ups into highly attractive, scalable ventures that deliver the solutions clients so desperately need.”

Hoad commented: “Thanks to pioneering initiatives like the Lloyd’s Lab, and forward-thinking insurers like Tokio Marine Kiln, there are some incredible, much-needed innovations coming to market that have the potential to reinvent the entire value proposition of our industry.

“With its breadth and depth of distribution, strong relationships with all the major capacity providers, and a huge appetite for innovation,  Howden is the perfect home for a platform that combines all of the needs of the entrepreneurial ecosystem in one place. I look forward to helping them to create it!”

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