INSHUR announces Clayton Carol as its first CFO

INSHUR has announced the appointment of its first Chief Financial Officer (CFO), Clayton Carol. This strategic move follows a landmark year of growth for the company, which saw a nearly four-fold increase in size.

During 2023, INSHUR's remarkable growth trajectory was supported by its acquisition of the California-based specialty insurer American Business Insurance Services (ABI) in April. This manoeuvre significantly amplified INSHUR's US footprint and elevated services provided to drivers and platform partners worldwide. As a result of this expansion and customer-oriented focus, INSHUR now holds the leading spot in on-demand economy insurance, boasting over 160,000 active customers globally.

Carol joins INSHUR after his tenure as the Vice President of Finance at Better, a fintech mortgage company. During his time at this company, Carol successfully directed the finance team, established the FP&A program and conducted significant debt and equity financing efforts. The latter included securing funds in a $200 million Series D round. Carol was also CFO at two earlier-stage companies and has almost two decades of experience as an investment banker at Merrill Lynch and Lehman Brothers, consolidating his credentials in private equity firms.

In his role as INSHUR's CFO, Carol is expected to focus keenly on the company's financial strategies. His responsibilities will encompass aligning resources to deliver on INSHUR's ambitious growth objectives, such as further expansion across the US, and bolstering fundraising efforts that follow last year's $26m raise. His successful record of financial stability and extensive fintech sector familiarity make Carol an invaluable addition to INSHUR's executive team.

Commenting on the appointment, Dan Bratshpis, CEO and co-founder of INSHUR, said: "Clay's strong technical skill set, expertise in leading finance functions and impressive track record in both traditional financial institutions and fintech will be instrumental in driving INSHUR forward as we continue to innovate and grow in 2024 and beyond. His proven leadership will be invaluable as we navigate future fundraising efforts and execute on our ambitious plans for INSHUR."

Following his appointment, Clay Carol stated: "Following a truly transformative 2023, INSHUR is poised for growth across geographies and products. I'm looking forward to supporting INSHUR's exceptional leadership team and the company's ambitions in this exciting time in its journey."

Carol's strategic business planning, investor relations, mergers and acquisitions, finance and operations, and budgeting expertise, combined with his global perspective sharpened by assignments in New York City, Hong Kong, and Jakarta, offer INSHUR a seasoned leader versed in business economics. Fluent in Indonesian, Carol also holds an MBA from the Wharton School and a BA from Cornell University.