Marsh leader joins Lloyd's Lab insurtech to scale data-driven insurance platform

Parsyl, a supply chain data platform that participated in Lloyd's innovation accelerator Lloyd's Lab, has hired a Marsh executive to lead all aspects of its data-driven insurance division and help scale the business.

Gavin Spencer (pictured) will join the company as head of insurance. As a member of Parsyl’s executive leadership team, he will focus on product and business development of its cargo and supply chain insurance solutions, including its digital distribution. He brings 21 years of maritime and transportation expertise to the role.

Spencer joins Parsyl from Marsh, where he was senior vice president, North American logistics leader, where he led Marsh’s logistics portfolio and established its supply chain industry focus which included its Digital Shipper’s Interest products.

Parsyl claims to the only integrated supply chain monitoring and data-powered cargo solution currently on the market. Since participating in the inaugural Lloyd’s Lab in 2018, Parsyl has become a Lloyd’s Coverholder, launched a suite of connected cargo insurance products, including the industry’s first parametric temperature policy, and spearheaded the Global Health Risk Facility, a dedicated insurance solution for vaccines and health commodities being distributed to the developing world.

Ben Hubbard, co-founder and CEO of Parsyl, said: “Gavin’s extensive knowledge of the global marine, logistics, and transportation industries gives him an unparalleled understanding of the challenges faced by cargo clients in the supply chain today. He’s seen first-hand the impact that data can have not only on claims and underwriting, but on the resiliency and sustainability of supply chains more broadly. We’re thrilled to welcome him to the team.”

Spencer commented: “A data revolution is happening in the insurance industry, and Parsyl is leading the way in cargo and the wider supply chain. I’m joining Parsyl to put my decades of insurance experience towards the company’s mission of improving the quality of essential goods for everyone around the globe. Parsyl’s mission, talent and leadership made this an opportunity I couldn’t pass up.”

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