Insurtech Parsyl draws industry leaders for major Lloyd’s market expansion

Parsyl, a supply chain data insurtech that participated in Lloyd’s innovation accelerator Lloyd’s Lab, has brought in underwriting leaders from Aon, McGill and Talbot (AIG) in a major expansion move to serve Lloyd’s open market via Parsyl Syndicate 1796.

The new hires will enable  Parsyl to expand its cargo and supply chain insurance solutions.

Joining  Parsyl are Kristopher Kimble, director of Aon, Henry Wood, partner at McGill, and Ed Colclough, head of cargo, fine art and specie at Talbot, an AIG Company.

Kimble has 15 years of cargo and logistics insurance experience and joins from Aon where he was a director in the marine cargo division, responsible for broking and servicing of large and complex programmes, business development and new product initiatives. Prior to joining Aon, he served as a divisional director at Willis Towers Watson in the global marine cargo practice, where he’d spent 13 years, including five years in the cargo claims department.

Wood most recently held the position of partner on the marine & energy treaty reinsurance team at McGill and Partners. He is said to have started the London Cargo book of Torus/StarStone in 2012 as well as served as the Cargo ‘Centre of Excellence’ to the company’s global network of offices. Prior to that, Wood held various senior underwriting positions at Glacier Re in Zurich as well as AIG.

Colclough was head of cargo, fine art and specie at Talbot Underwriting. He has worked across a number of lines of business, including four years in Dubai writing Talbot’s marine and energy portfolio. He has also been involved in the Lloyd’s Lab including mentoring and advisory work across various cohorts.

Parsyl provides a suite of data-powered insurance solutions designed to lower risk and improve protection for perishable supply chains. The company's risk management technology is deployed in over 80 countries and is currently monitoring vaccines for more than 200 million people.

As a coverholder and syndicate owner at Lloyd’s,  Parsyl issues policies for Lloyd’s (rated “A”) and other insurers rated “A” or better.  Parsyl's products include ColdCoverR, a suite of connected cargo insurance products, including a parametric temperature solution.  Parsyl's insurance coverages include cargo and stock throughput, shipper’s interest, cargo legal liability, warehouse legal liability, open lot and errors and omission.

Earlier this year,  Parsyl launched a US-based managing general underwriter (MGU), and expanded the scope of 1796, its impact-focused syndicate at Lloyd’s of London, to support global healthcare, perishable foods and pharmaceuticals. The syndicate was first created in response to the Covid-19 pandemic.

Gavin Spencer (pictured), head of insurance at  Parsyl, said: “We’re thrilled to welcome Henry, Kris and Ed to the  Parsyl team. Their knowledge and leadership will be instrumental in supporting our mission to better protect essential goods we all rely on. The expansion of Syndicate 1796 and Parsyl’s data-powered insurance offering is in response to a huge market need and will allow customers across all supply chain sectors to access the untapped potential of an integrated risk management and insurance solution.”

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