The insurtech feels its new hire is the ‘perfect fit’ for the role
Insurtech Previsico has hired former Charles Taylor group chief executive David Marock as its new chairman.
Previsico is aiming to become a global insurtech leader in live flood forecasting - Marock’s appointment is therefore designed to support the company’s executive team as the business continues to grow.
Jonathan Jackson, Previsico’s chief executive, said: “Previsico is committed to scaling the business globally and working across the industry with insurers, brokers and insurance services businesses to do so.
“Marock’s vast experience and stellar track record scaling fast-growing technology businesses in the insurance and technology spaces make him a perfect fit for Previsico. We are delighted to have him onboard.”
Marock’s appointment follows the insurtech’s £1.75m seed funding round, led by private equity firm Foresight Group, in September 2021.
Strength to strength
During Marock’s nine-year tenure as group chief executive of Charles Taylor, the insurance technology firm tripled its top and bottom line, providing a total shareholder return of approximately 400%.
He is also a senior advisor to McKinsey and Company, working with clients from across the global financial services sector, including pet insurer Bought By Many, proptech Goodlord and artificial intelligence solution firm TruEra.
Marock additionally serves as a non-executive director at investment platform Standard Life Savings and premium finance insurtech PremFina, as well as being an angel investor in various technology-related firms.
He previously worked for specialist insurer Beazley too, between 2005 and 2011. He fulfilled several roles over the course of his tenure, including group chief operating officer.
Marock said: “Previsico’s market-leading analytical and predictive tools are particularly well positioned to help insurers and their end clients anticipate and mitigate the impact of floods. The importance of which is only likely to grow as climate change means that weather-related [catastrophe bond] events will become more frequent and potentially more damaging if action is not taken to mitigate their impact.
“I am really excited, therefore, to work with Jackson, Dapeng [Yu], Avi [Baruch] and the team, all of whom I have enjoyed getting to know, to enable Previsico to achieve its full potential and make a real difference in the world of flood prediction and risk management.”
Baruch is the insurtech’s co-founder and chief operating officer. Yu is the company’s other co-founder.
Bill Yost, Foresight Group’s investment manager, added: “Since we invested in Previsico, we have seen the business go from strength to strength with a unique live flood forecasting solution that offers enormous potential to the global insurance sector.
“A seasoned professional of Marock’s standing will be invaluable in driving [its] business to the next level as more major insurers come on board.”