Parametric focused, Florida-based insurance holding company, New Paradigm Group, LLC, has named industry veteran Mark Groenheide as Senior Vice President & Director of Specialty Insurance Programs.
In his new role, Groenheide assumes responsibility for leading a specialty division dedicated to enhancing the company’s initiatives for aligning parametric risk transfer with protection buyers’ traditional re/insurance programs.
Throughout his career, Groenheide has held senior roles with GuideOne Insurance Company, HDI Global Insurance Company, and Zurich Insurance Company.
“We’re excited that Mark has joined our team,” said Co-Founder, Chairman, and Chief Executive Officer (CEO), Brad Meier. “Mark is one of the industry’s foremost thought leaders for cutting-edge risk transfer programs. His expertise will complement our current and planned initiatives for innovation in the parametric risk transfer arena.”
Commenting on his new role, Groenheide said: “I look forward to serving the industry in this new capacity. New Paradigm is known for its innovation and its commitment to closing the protection gap that exists in many traditional insurance programs. I am grateful for the opportunities I’ve had at GuideOne and other insurers throughout my career.
“In my new role, I look forward to continuing to work with these companies and other participants throughout the risk transfer value chain.”
New Paradigm works with insureds, producers, and risk counterparties to advance the use of parametric risk transfer solutions. By leveraging proprietary technology and intellectual property, the company creates parametric programs with unique features.
The company says that its solutions have focused on assisting clients in the corporate, municipal and personal sectors manage defined exposures including hurricanes, earthquakes, peak catastrophe zones, and terrorism.
New Paradigm Co-Founder, Evan Glassman, added: “We continue to see growing demand for parametric risk transfer solutions as clients embrace their transparent, rapidly-settling claims processes that help bring certainty and closure to transactions.
“Mark understands our goal of our integrating parametric solutions into traditional programs, especially in the corporate and municipal sectors. His insights in these areas are unparalleled and will be a key part of our strategic growth going forward.”
