Lloyd’s Lab graduate Synthetik Insurance Technologies has named Matt Harris (pictured above) as its new global head of partnerships and distribution.
Harris brings extensive experience from senior roles in the insurance sector, including serving as Group Head of International Operations at Argo Group and as CEO for Asia Pacific at AIG. His background also includes leadership positions at AIG and IAG across the Asia Pacific region.
In addition, Harris has worked as a consultant to insurance businesses, focusing on mergers and acquisitions, efficiency, and performance optimisation.
Synthetik CEO Brian Watson said Harris offers significant insurance expertise and knowledge, combined with a collaborative approach. Watson noted that as Synthetik continues to grow, the company values Harris’s understanding of the market and the importance of next-generation modelling tools.
“Matt brings a deep well of insurance experience and knowledge to Synthetik along with a collaborative and engaging approach. As the company grows and expands, we’re thrilled to add someone not only with a strong understanding of the market overall but also the value of our next generation modeling tools to it,” Watson said.
Harris described the move as an opportunity to join a business that is both dynamic and expanding. He highlighted Synthetik’s blend of technological, scientific, and practical expertise, as well as the team’s close engagement with clients.
“The opportunity to join a dynamic and growing business like Synthetik was too good to turn down. Their combination of technological, scientific and practical expertise, along with a team that is engaging and collaborating closely with clients is hugely attractive. I’m looking forward to being part of the team, developing our offering, and growing our client base across the globe,” Harris said.
Elsewhere, Lloyd’s Lab recently selected 12 startups for its 15th cohort, focusing on areas such as environmental risk, renewable energy, specialty claims, and AI-driven underwriting. The new cohort was chosen after a competitive pitch day and will develop solutions under themes including adapting to a changing world, traditional lines, and data intelligence.
This development comes as the UK insurtech market, while still the largest in Europe, has seen a reduction in deal sizes over the past year. In the first half of 2024, there were no UK insurtech deals exceeding US$100 million, reflecting a shift in investment trends even as the sector remains active.
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