Loop, the Public-benefit Corporation and auto insurance MGA leveraging AI, big data, and telematics to create more fairly priced insurance products, announced today it has appointed a Head of Insurance: Ed Arovas. Arovas, a long-time technology and insurance industry leader and veteran, will head insurance operations for the upstart.
Arovas spent 20 years as a Director of Technology and Chief Information Officer on the frontier of the information technology revolution, where he developed a deep expertise in IT and technology-enabled infrastructure for large organizations. In 2010, Arovas began assisting with strategy and implementing cloud-hosted solutions for businesses, where he transitioned to his second career in Insurance Operations ultimately being appointed to President and Chief Operating Officer at Amalgamated Casualty Insurance Co.
“Ed marries a deep mastery of two worlds: technology infrastructure and insurance operations. It is very rare to see someone have equal regard for loss-ratio performance and claims handling infrastructure on one hand, and API integrations and technology stack on the other.” says John Henry, Cofounder and Co-CEO at Loop.
Under Arovas’s leadership, Amalgamated grew from a two state regional carrier to a 20-state nationwide carrier, where he oversaw product expansion, claims handling, rate-filing development, underwriting operations, and financial management. Arovas also sits on the Board of Directors for the rate-filing organization, MSO, Inc, where he met Carey Anne Nadeau, Loop’s Cofounder and Co-CEO.
“Ed jumped out at me right away. He has a heart of gold, tremendous expertise, and a true willingness to be of service. His unique blend of traditional underwriting experience paired with a fresh, forward-thinking approach makes him uniquely qualified to bring much needed innovation to P&C.” added Nadeau. “We couldn’t be happier to have Ed as our Head of Insurance and leading this industry-wide transformation.”