Treefrog provides virtual CTO services
Treefrog Consulting Ltd, the Bermudian-headquartered software development company delivering technology solutions to clients in the international re/insurance and ILS space, has partnered with an insurance technology veteran for the launch of its Virtual Insurance Chief Technology Officer offering.
Gustavo Loret de Mola, an IT leader with more than three decades’ experience, will spearhead Treefrog’s new practice, providing expert support and relief to insurance businesses in need of a part-time CTO.
The service is aimed at insurance companies, MGAs and insurtech start-ups that have not yet hired their own CTO.
While the provision of general CTO services is nothing new, Dmitry Mnushkin, Treefrog’s president, said focusing specifically on the insurance segment “with someone who has been in the trenches” allowed the company to add real value for its clients.
The regulatory and compliance requirements in the US insurance space are unique and preparing for them at the start gives clients a distinct advantage, he added.
Mr Mnushkin said: “Over the years while providing services to the insurance and reinsurance industries, we’ve been asked on several occasions by start-ups to provide CTO services while they worked on various elements of their business plan.
“This is an area that requires a lot more than just technical skill. It needs someone who is also familiar with the specific demands of insurance and state regulatory bodies and can ensure the company walks the golden path to launch.”
He added: “We worked with Gustavo over many years while he led the IT team at Weston Insurance, based in Florida. During that time, he proved himself to be a highly knowledgeable team builder who was able to handle every challenge thrown his way.
“We are thrilled to finally have a partner we can trust to launch our Virtual Insurance CTO practice and look forward to expanding the range of services we offer into this critical area.”
Mr Loret de Mola said: “Working in IT for the past 30 years and in the insurance sector specifically for the past decade has provided me with a tremendous opportunity to learn the complexities of operating a high-performance IT team in the insurance space.
“Dealing with state and insurance regulators as well as integrating with other insurance partners while executing a highly technical underwriting process has further refined my process and leadership style.”
Mr Loret de Mola said partnering with Treefrog in this latest venture “just made sense”.
He added: “I can’t wait to help our future insurance customers to thrive in this challenging and constantly evolving environment.”
According to Mr Loret de Mola, the hot trends of 2023 will include:
•Cyber insurance will continue to mature and expand by typifying new risks
•Cloud-based technologies will play a key role in allowing companies to remain competitive
•Data ingestion and processing capabilities will become the main differentiating factor between winners and losers
•The utilisation of AI and IoT will continue to grow for both vertical markets and general applications that support automation and digital transformation
•Low code/no code will take centre place in the selection criteria for new tools
•Remote work is here to stay. Companies would do well to support this trend if they want access to the best talent.