Insurtech Cactus has announced the appointment of a new Chief Financial Officer (CFO) and Head of Audit, Keith Bernhard, a seasoned audit and risk management professional with over 30 years of experience across the insurance, reinsurance and public sectors.
His appointment brings the rigour of public-company audit to the growing insurtech, where he will be responsible for leading financial management and reporting, along with related processes, governance, and security.
Bernhard will also oversee the work required to obtain and maintain independent verification standards such as ISO 27001 and SOC 2, which confirm Cactus’ platform security and reliable controls.
The executive is joining insurtech from Hamilton Insurance Group, where he served as Chief Audit Officer since May 2014. In this role he developed and executed a risk-based internal audit plan across Hamilton and its subsidiaries.
He also led the organisation’s Sarbanes-Oxley compliance programme, coordinated wider regulatory compliance, and supported the development of the company’s risk and control culture.
Earlier in his career, Bernhard held positions at KPMG and Deloitte. He is also a Chartered Accountant and holds the Certification in Risk Management Assurance (CRMA).
James Robinson, CEO of Cactus, commented: “I am delighted that Keith has chosen to join us at Cactus. Having known Keith for almost a decade and worked with him closely for four years, I have seen first-hand the dedication, integrity and infectious enthusiasm he brings to everything he does, and we are fortunate to have him on the team.
“His appointment is a clear signal of the seriousness with which we approach governance, controls and trust. Keith’s experience leading audit through the demands of a public listing will be invaluable as we scale Cactus and continue to demonstrate that we deserve the confidence of our customers and partners.”
Bernhard added: “I am thrilled to have joined Cactus as they continue to solve the prickly problems of insurance. I have been impressed by their dedication, execution and focus on what matters to clients, the industry and world at large. I look forward to assisting Cactus solve even more problems in better and secure ways.”
Cactus, as an insurance software company, was formed with the merging of Bermuda-based Cactus and Y Combinator-backed CatX, both graduates of the Lloyd’s Lab accelerator.
The company’s flagship platform Cactus Risk Studio is used by clients including Ark, Helix and First Specialty across Bermuda, the US and London.
