W.R. Berkley Corporation announced the formation of Berkley Embedded Solutions on Monday—a business focused on delivering tailored insurance products and services to customers at the point of purchase.

According to media statement, the new business will bring together the best of modern technology, purpose-built digital-first insurance products, and complementary services with Berkley’s strong underwriting culture and reach.

Stephanie Lloyd has been named president of the new business, effective immediately.

Lloyd joins Berkley with 20 years of experience in the property/casualty insurance business, with leadership roles that spanned underwriting, product development, and distribution. Most recently, she led a successful global technology company in the digital health and well-being space, serving as its chief executive officer, the Berkley statement said.

Lloyd’s LinkedIn profile reveals that this company was LiveWell by Zurich. Prior roles included 15 years at Farmers Insurance (including a stint as head of New Ventures) and three years as president of Toggle Insurance, a digital Farmers branded for customizable rental insurance.

While these roles were all in personal lines, W.R. Berkley Corp. is currently primarily a specialty commercial lines insurer. One exception is a high-net-worth personal lines business known as Berkley One.

In the media statement announcing Lloyd’s appointment, W. Robert Berkley, Jr., president and chief executive officer of W. R. Berkley Corporation, described her as “a pioneer in the embedded insurance market, having launched and scaled a successful embedded platform serving customers across several global consumer brands.”

“Berkley Embedded’s value proposition will be offering traditional insurance industry expertise while simultaneously meeting customers where they want to be met,” Berkley said.

Source: W. R. Berkley Corporation