Brightway Insurance, an US personal lines insurance distribution platform, has announced the appointment of Nick Clements as Chief Executive Officer (CEO), effective March 1, 2024.
Clements has more than two decades of experience building and scaling fintech businesses, both as a founder and an operator within leading financial services organisations.
Prior to joining Brightway, he served as President of Credit Cards for OneMain Financial from 2020 to 2024. Before OneMain, Clements became the Co-Founder and CEO of MagnifyMoney, which was sold to LendingTree in 2017, following a tenure as CEO of the Barclaycard UK Consumer Credit Card business.
Before to Barclaycard, Clements held various risk and analytics positions at Citigroup in Europe. He started his career at Swiss Re.
Sumit Rajpal, Founder and Chief Executive Officer of GrowthCurve Capital, Brightway Insurance’s majority investor, said: “Nick is a seasoned growth leader, with a strong track record of leveraging technology and data to drive transformational growth.
“We see tremendous opportunity at Brightway to utilise technology, data, and AI to create differentiated experiences for our customers, agents, and carrier partners and ultimately, drive outsized profitable growth for all stakeholders. We look forward to working with Nick and the entire team at Brightway as we continue on our journey to achieve this vision.”
The appointment of the CEO follows the launch of a refreshed brand in February and the milestone of more than $1.2 billion of gross written premiums in 2023, as well as the addition of over 100 new franchises.
The new brand was unveiled on the website February 6th and will be rolled out across the network throughout 2024.
Clements commented: “I am honoured to have the opportunity to lead Brightway. It is a differentiated platform that provides consumers with curated choice as they protect their most important assets, and it provides entrepreneurial agency owners with the opportunity to build and grow their own businesses.
“We expect to use the power of technology, data, and AI, to delight customers and enhance agent productivity. I look forward to working with the talented Brightway team members to accelerate our growth and welcome more customers and franchise agent owners over the coming years.”
