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Hourly.io, an InsurTech startup offering full-service payroll and workers’ comp insurance for small and medium businesses with hourly workers, has hired former Markel executive Jerico Vinsonhaler to serve as Head of Underwriting. Vinsonhaler spent 20 years leading underwriting strategy at Markel.
As Head of Underwriting, Vinsonhaler will oversee Hourly’s overall underwriting strategy, portfolio management and manage the underwriting team.
“Hourly is the only player in the industry that is integrating real-time data from the field, payroll, and workers’ comp,” comments Vinsonhaler. “What really drew me to the company was the impact it could have on employers and employees. Because we have the opportunity to engage directly with both on a daily basis, we see labor costs in real time which means premiums are accurate, claims are reduced, and workers’ comp insurance ultimately becomes more affordable for everyone.”
Established in 2018, Hourly describes its offering as bridging the gap between workers’ comp, payroll, and time tracking and simplifies paying and insuring hourly workers for small and medium-sized businesses through its full-service platform.
Top Player in the Industry
Hourly notes that Vinsonhaler will join another industry veteran Tomer Eilam who previously served as Atlas Insurance’s Chief Actuary. Eilam currently serves as Hourly’s Chief Analytics & Risk Officer.
“We’re thrilled to welcome Jerico to the Hourly team,” comments Eilam. “Jerico is a top player in the industry and brings years of insight and experience to Hourly. In her new role, Jerico will help us grow and make workers’ comp and payroll a whole lot easier for small businesses.”
In June 2022, Hourly announced that it raised $27M in Series A funding led by Glilot Capital Partners with participation from S Capital, Vintage Investment Partners, and MS&AD. The company has raised a total of $34.2M in venture capital to date.