Approved Lloyd’s coverholder and provider of insurance for essential supply chains, Parsyl has announced that Edward Mishambi, Senior Vice President (SVP) and Chief Risk Officer- Europe at RenaissanceRe, will join its board as an independent non-executive director.
Mishambi joined RenaissanceRe in 2009, in his current position he is responsible for leading, developing, implementing, and maintaining RenaissanceRe’s European risk management framework.
In addition, Mishambi leads the activities related to risk and capital reporting to rating agencies, including maintaining rating agency relationships across RenaissanceRe’s owned and managed balance sheets.
Prior to joining RenaissanceRe, he worked at PwC in Bermuda and with Deloitte in East Africa.
Mishambi commented: “Parsyl sits at the intersection of my passions: insurance and technology as forces for good, and growth and prosperity for the people of Africa. I will proudly advise Parsyl on cutting edge risk analysis and processes as they rapidly grow their business and create positive social impact.”
Ben Hubbard, Co-Founder and CEO, Parsyl, said: “Parsyl insures clients against risk, while helping them reduce it. Edward’s risk expertise will be instrumental in ensuring we are using the very best practices as we grow our business.
“His deep commitment to Africa, and using insurance and technology to support equitable growth and trade in developing countries aligns with Parsyl’s founding mission and we’re thrilled to welcome him to the board.”
Parsyl has also announced it has named its Chief Insurance Officer Gavin Spencer as the new Active Underwriter of Syndicate 1796, its mission-focused Syndicate-in-a-Box at Lloyd’s.
According to the insurer, the announcements build on Parsyl’s recent London talent acquisitions and insurance business expansion, and align with the official opening of Parsyl’s London office in September.
The company insures goods in food, pharmaceuticals and life science industries as well as logistics participants within the perishable supply chain.
It uses granular data to help customers mitigate, manage and insure complex supply chain risks faced by perishable goods. Parsyl’s insights and coverages have helped clients significantly reduce waste, avoid losses and generate insurance savings based on the data they collect, the insurer noted.
Parsyl’s products include ColdCoverTM, a suite of connected cargo insurance products, including the industry’s first parametric temperature policy, according to Parsley. As well as the Global Health Risk Facility dedicated to insuring the complex distribution of vaccines and other health commodities around the world.