LOOP, the Public-Benefit Corporation and Artificial Intelligence-powered insurance provider, announced today it has promoted Ed Arovas to Chief Insurance Officer. Formerly serving as Head of Insurance, the long-time technology and insurance industry leader and veteran, managed insurance operations for the start up.
Over the past year Arovas led the development of LOOP’s personal auto program, working closely with the data science group to remove rating factors considered discriminatory and adding LOOP’s proprietary road-risk scoring and telematics factors. This innovation allows LOOP to rate drivers based on where and how they drive versus rating factors that are now frowned upon by a growing number of state insurance commissioners. With Ed’s combined diverse technical and insurance experience, he contributes across teams at LOOP - from app user interface development to idea generation for content - and even as a show host in the Ask Ed videos.
“Ed reinforces my belief that the insurance industry can and will change for the better. His commitment to making insurance fair for everyone runs deep, and he’s got what it takes - a combination of experience, open-mindedness, and tenacity - to lead, not only the Insurance team at LOOP, but also the industry into a modern-era of what insurance can and should be.” says Carey Anne Nadeau, Cofounder and Co-CEO at LOOP.
“Easily the best decision we made early at LOOP was to bring Ed on to the team. He has helped us navigate incredible complexity with respects to regulatory hurdles, novel program development, and expansion planning to bring us to market in record time.” adds John Henry, Cofounder and Co-CEO at LOOP. “It could have, and would have, taken twice as long without Ed’s tireless efforts. We couldn’t be more excited to appoint him as our Chief Insurance Officer.”
LOOP is a Public-Benefit Corporation and Artificial Intelligence-powered insurance provider headquartered in Austin, Texas, founded with a mission to create fair insurance for all. For general inquiries, more information on LOOP, or to join the team, please visit ridewithloop.com.