Envelop Risk, a recently launched global specialty cyber insurance analytics and underwriting firm, has appointed cyber risk expert Aritra (Ari) Chatterjee from Hannover Re as its Chief Underwriting Officer (CUO).
Launched on Monday, Envelop Risk provides cyber risk underwriting to insurers and reinsurers, and partners with cyber security companies to deliver bespoke cyber solutions.
While serving as Hannover Re’s (Bermuda) lead cyber underwriter, a business line Chatterjee helped to establish, he led a number of Cyber reinsurance placements in the US and International markets, and has also underwritten Marine & Energy, Property Catastrophe, Credit and Surety, Intellectual Property, and Motor transactions.
Jonathan Spry, Chief Executive Officer (CEO), Envelop Risk, commented: “We are honored that a market leader of Ari’s stature is joining Envelop. His proven business acumen and technical know-how will complement our team’s specialist knowledge and expertise, as we go to market with our advanced form of insurance underwriting, reinsurance transactions, and risk quantification.”
Envelop Risk explains that Chatterjee applied a unique underwriting methodology called “PTBA – Resilience Matrix,” which seeks to quantify the risk landscape to identify trends, and which helped him to outperform the market.
Prior to Hannover Re, Chatterjee worked with Flagstone Re and GE Insurance Solutions.
Commenting on his new appointment, Chatterjee said: “After a long pursuit to find the right InsurTech firm that will create the future of cyber insurance, I found Envelop Risk. Envelop’s technology platform and business approaches address quantification and distribution needs for the cyber insurance ecosystem.
“I was impressed with the dynamic and highly innovative team, and with the corporate governance. I am thrilled to be a part of Envelop, and to help and grow this business.”