Ex-Nationwide veteran executive Mike Miller plans to roll out a new digitally-focused specialty property/casualty insurer.
Dubbed Ategrity Specialty Insurance Company, the fledgling insurer will focus on the excess and surplus lines market, according to the April 6 launch announcement. The company will be headquartered in Scottsdale, Ariz., and operate in all 50 states on a contract binding and individual brokerage account basis.
“We are entering an attractive segment of the insurance market at an ideal time,” Miller said in prepared remarks. “Ategrity Specialty will bring strong underwriting discipline enabled by leading digital technologies.”
Miller added that Ategrity looks forward to “partnering with the leading wholesale agents and brokers across the United States in the coming months.”
Ategrity Specialty did not disclose the source of its financing, but a spokesperson confirmed to Carrier Management that the startup insurer had secured funding and that “details are forthcoming.”
Miller will lead Ategrity Specialty as CEO. He first joined Nationwide in 1985 and signed on with the Nationwide-owned Scottsdale Insurance in 1995 as chief financial officer. He became president and COO of Scottsdale in 2004. At the end of 2015, he switched from that longtime role to become president of Nationwide Ventures, a division he launched with the goal of investing in early-stage startup companies that were industry innovators.
Two other executives will initially be joining Miller: John Goodloe as chief underwriting officer of Brokerage and Joe Griffith as chief information officer.
Goodloe was most recently vice president of Brokerage at Mesa Underwriters Specialty Insurance in Scottsdale, a position he took on in 2016. Before that he was president of XL Catlin Insurance – E&S Brokerage – where he led the blending of XL E&S and Catlin E&S books of business following their merger. Goodloe also has a Scottsdale Insurance connection, where he was senior vice president of Brokerage from 2010-2014. He also held leadership positions at W.R. Berkley Inc. from 2005 to 2009.
Griffith brings IT experience to the new venture. He served as vice president of Information Technology at Scottsdale from 2006-2016. Before that, he was part of the Scottsdale Technology team leading system development. He’s credited with building and leading technology teams that have helped build growth and key projects.
Source: Ategrity Specialty