(Image credit: Ralph (Ravi) Kayden/Unsplash.)
Carpe Data (Santa Barbara, Calif.), a provider of emerging and alternative data products for the insurance industry, has announced the appointment of William Magowan as Chief Revenue Officer. Magowan, the former Director of Sales at Duck Creek Technologies (Boston), takes on the role from Jim Andrews, who has been named Carpe Data’s Chief Customer officer. Magowan’s appointment is the second executive hire this year by the company in the wake of a majority stake investment by THL announced in April. Carpe Data named Scot Barton VP of Commercial Products in May. Barton held analytics and R&D roles at Farmers Insurance (Los Angeles) during the past decade. He was most recently Head of Commercial Insurance Advanced Analytics.
“The THL investment serves as a springboard to bring outstanding executives like William to accelerate our market presence,” comments Max Drucker, CEO, Carpe Data. “It has enabled us to level up our team with the best talent in the industry.”
Magowan brings 20 years of experience building go-to-market strategies in the insurance and insurance technology sector to Carpe Data. During his tenure at Duck Creek, where he spent over a decade as Director of Sales, the company grew from $40 million in revenue in 2011 to $260 million in 2021. Prior to Duck Creek, Magowan spent nearly 10 years at Insurity (Hartford), a provider of cloud-based software for insurance carriers, brokers, and MGAs in the property/casualty industry.
“Increased claims severity, social inflation and high adjustor turn over continue to pressure casualty loss costs,” comments Magowan. “Carpe Data has established itself as the de-facto market leader for use of emerging data to drive automation and improve outcomes for insurance carriers such as Allstate, Farmers, The Hartford, Travelers, and Zurich. I am excited to join the team and look forward to helping carriers realize the value of alternative data for predictive and actionable claims and underwriting insights.”
Strengthening Position as Next-Gen Data Company
“More than a top sales leader, William fosters cross-functional collaboration which has enabled him to drive product innovation, customer satisfaction and profitable growth at leading InsurTechs throughout his impressive career,” adds Carpe Data’s Drucker. “As Carpe Data continues to penetrate core segments, introduce new products, and expand offerings across the policy life-cycle, William will play a key role in our accelerated go-to-market strategy, and we are confident he will only help strengthen Carpe Data’s position as the next-generation data company for insurance.”