Stephen Applebaum has taken on the role of senior advisor at StoneRidge Advisors, LLC, a specialized investment banking firm focused exclusively on the insurance industry, with offices in Chicago and New York. StoneRidge provides financial advisory services to property, casualty, life and health insurance companies, reinsurance companies, as well as insurance brokerage, managing general agency, claims management, and other related service companies.
Applebaum’s brief will be to expand the firm’s participation and visibility in the P&C insurance claims technology ecosystem in response to market influences that are converging to drive M&A activity to unprecedented levels, attracting growing numbers of private equity and strategic investors, providing attractive exit opportunities and strategic alternatives for participants, and creating exciting new and innovative technology enabled capabilities for insurers, agents, brokers and consumers, according to a StoneRidge statement.
“Stephen is a highly knowledgeable, experienced and well-recognized subject matter expert in this industry whose career focus has been on insurance business process and supply chain transformation through the effective application of technology, innovation and strategic alliances,” comments Jay Poorman, partner, StoneRidge. “This expertise will make Stephen a valuable asset to our clients seeking to gain advantage and achieve their strategic goals and financial objectives in this rapidly changing and increasingly competitive market.”
“In addition, Stephen’s active participation will enable us to further expand the expertise of our firm and M&A services in insurance technology,” Poorman adds.
Applebaum brings over 25 years of experience to StoneRidge. Most recently, he served as a senior analyst at Aite Group where he established the firm’s P&C insurance practice. Prior to this role, he was president of ClaimForce, a web-based insurance claims services platform, senior vice president of ADP Claims Services Group (now AudaExplore, a Solera company), senior vice president of corporate and business development at CCC Information Services and president and co-founder of CCC’s Canadian operations. Applebaum’s early career included positions in public accounting, management consulting, venture capital and private equity in Toronto, Canada.