Iotatech appoints industry veteran to Strategic Advisory Council
Iotatech Limited (Iotatech), a general insurance technology disrupter, has appointed insurance industry veteran Mark Cliff to its Strategic Advisory Council (SAC). Cliff will take up his new position in January 2020, and replaces Dermot Joyce, who is standing down from the board but remains an active shareholder in the business.
Cliff is non-executive director of a number of insurance-related businesses, including Be Wiser, Evolution Claims Management, RS Connect and Ivernia. Previously, he was chairman (exec and non-exec) at Brightside Group between 2015-19.
Cliff was chief executive of retail and distribution at Ageas Insurance Limited where he was responsible for all Ageas UK's broker distribution and affinity relationships, as well as Ageas's Kwik Fit Financial Services, Ageas Insurance Solutions, RIAS and Castle Cover.
He has also worked at AXA Insurance, where he held the position of markets, managing director. In his early career, he worked for RSA in a variety of roles for 15 years. He is also a member of BIBA’s Large Broker Advisory Board.
Iotatech co-founder and CRO Robert Thomson said: “Mark’s knowledge and experience of the UK insurance industry is second to none. He is unusual in holding C-suite roles with blue-chip insurers and on the broking side too, and his business acumen and deep market knowledge will be invaluable for us. I would also like to take this opportunity to thank Dermot for his invaluable input to date.”
Robert Thomson said that the London-based business, which provides a next generation pay-per-use insurance platform, has so far signed deals with Commercial & General and Evolution Claims Management. He added that Iotatech has a strong pipeline and he expects to update the market on further progress shortly.
The platform, designed using microservices, Open API and artificial intelligence, is an internet of things (IoT)-ready, intelligent pay-per-use solution, available via Amazon Web Services as software-as-a-service.
Mark Cliff said: “So many insurtech businesses enter the insurance market looking to solve a problem that isn’t there, but Iotatech is different. Their proposition is hugely impressive, and I have no doubt that it will change the landscape for insurers, MGAs, TPAs and others seeking to reduce costs and improve overall performance.
“It’s a very exciting opportunity and I look forward to assisting the team deliver their ambitious plans for the benefit of clients and investors alike.”
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