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Archipelago (San Francisco), an AI-powered risk data platform that offers to connect commercial property owners’ data with their insurance markets, has announced the appointment of a new CEO, Alex Lyashok, to lead the firm through its next stage of growth and market adoption effective July 17. The company reports that former CEO, Hemant Shah continues to serve full-time as Archipelago’s Executive Chairman.
“The commercial insurance markets have reached an inflection point wherein owners, brokers and insurers are facing pressure to find innovative solutions that can help mitigate the impact of reduced capacity across the industry,” comments Lyashok. “I am thrilled to join Archipelago, a firm where we combine deep understanding of property risk with the latest advancements in AI technology to unlock value for our customers.”
Before joining Archipelago, Alex Lyashok had an extensive career as a tech executive and entrepreneur. His latest venture was Merit Protocol, an employment data software company he founded, which was successfully acquired in 2023. Before that, he spent over six years at the helm of WorkFusion, a provider of intelligent automation software for the banking industry. His experience also includes founding a service firm that was later acquired by EPAM where he served as CTO and Head of Global Operations during the company’s rapid growth and IPO. Lyashok holds a Masters degree in Math and Computer Science, as well as an MBA from NYU Stern.
Hemant Shah, Archipelago’s Founder, has assumed the full-time role of Executive Chairman and in addition to Chairing the Board, will redouble his focus on Archipelago’s strategy, cultivation of the firm’s customers and development of key business partner relationships, particularly as leading brokers increase their adoption of the platform, according to an Archipelago statement.
“Alex brings a wonderfully relevant mix of experience and capability to Archipelago, which I believe will take us to the next level of industry-wide standardization and product-driven capability for our customers,” comments Shah. “Alex’s operating discipline, analytical acumen and AI-savvy track-record gives me the confidence he will successfully drive further adoption of our platform for housing, enriching and making effective use of building data in this market and markets to come.”
Archipelago reports wide market adoption, with nearly 400 companies using its platform to support their insurance placements and over 2,400 underwriters across the global markets accessing shared Archipelago submissions. Archipelago has raised a total of over $85 million in funding to date.