Bruce Carnegie-Brown, the Chairman of specialist re/insurance marketplace Lloyd’s of London, has taken on a new role at auto insurtech Cuvva, The Financial Times has reported.
App-based Cuvva allows users to purchase car insurance by the hour, day, week or month and was founded in 2014 by Freddy Macnamara and James Billingham.
Carnegie-Brown, who has become Chair of the start-up, told the FT that the new role will not steal time away from his duties at Lloyd’s, even as the marketplace embarks on its modernisation strategy laid out in Blueprint One.
Blueprint One proposes to enhance Lloyd’s value proposition to customers by offering better insurance solutions, simplifying access to products and services, reducing the cost of doing business, and building an inclusive and innovative culture.
“I wouldn’t have taken it on if I didn’t have enough time,” Carnegie-Brown told the FT. “It will be useful for me to understand ways of working in the digital market.”
Phase I of the Blueprint One strategy will begin from January 2020, following a period of transition and planning that is due to commence on October 1.