Verisk taps Marsh’s global leader for chief digital officer post

Global insurance data analytics provider  Verisk has hired a Marsh leader for the role of chief digital officer of Specialty Business Solutions (formerly Sequel). He will engage with insurance market participants to navigate the increasingly complex space of digital transformation and digital trading.

Reid Stanway (pictured) joins Verisk after almost a decade at broker Marsh, where he most recently held the position of global digital placement leader. At Marsh, Stanway worked with the global leadership team to define, lead and execute the business’ digital trading strategy. He also created and scaled the company’s in-house algorithmic insurtech ‘Intuitive’. Throughout his tenure at Marsh, Stanway held various leadership and strategy roles, as well as acted as an insurance broker in their Canadian offices for its large mining, oil & gas, and nuclear clients.

In his new role, Stanway will engage with insurance executives and business leaders in the design and build of their digital trading and transformation strategies by leveraging Verisk solutions. Part of this will involve articulating the benefits of investing in digital transformation to clients, colleagues and trading partners.

Stanway will have a direct reporting line into Tim Rayner, CEO and president Verisk Specialty Business Solutions, who said: “We are delighted to welcome Reid to Verisk. He has built a stellar reputation in the market and his arrival is another major component in our strategy to accelerate our market-leading position. Companies across the industry are beginning to realise the huge benefits that data, analytics and seamless transactions can deliver, and Reid understands first-hand how to work with large multinational insurance businesses on executing these strategies.”

Stanway commented: “I’m thrilled to be joining Verisk at such a dynamic time in the global (re)insurance industry, and in the London market in particular. The products that exist within Verisk are amongst the best I have seen around the globe, especially in the sphere of digital trading; yet it is the combination of the Whitespace platform, Sequel Broking, Verisk data sets, and Sequel Rulebook, with the newly created Sequel Hub, which truly make Verisk a gamechanger for our industry.

“We have so much potential to dramatically transform the industry, and it is truly exciting to now be able to do it within a realistic timeframe.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.