Denver, CO -- Tuesday, June 21 – Parsyl Inc, a data-powered insurer for essential supply chains, today announced it has opened a London office and hired a team of industry-leading marine cargo professionals to serve Lloyd’s open market via Parsyl’s Syndicate 1796. Joining Parsyl are Kristopher Kimble, Director of Aon, Henry Wood, Partner at McGill, and Ed Colclough, Head of Cargo, Fine Art and Specie at Talbot, an AIG Company.
Parsyl redefines insurance for the $4 trillion of perishable food and pharmaceuticals shipped annually by using granular supply chain data to identify and manage risk and reduce waste of essential goods. Parsyl insures goods in food, pharmaceuticals and life science industries as well as logistics participants within the perishable supply chain. Parsyl’s risk management technology is deployed in over 80 countries and is currently monitoring vaccines for more than 200 million people.
“We’re thrilled to welcome Henry, Kris and Ed to the Parsyl team. Their knowledge and leadership will be instrumental in supporting our mission to better protect essential goods we all rely on. The expansion of Syndicate 1796 and Parsyl’s data-powered insurance offering is in response to a huge market need and will allow customers across all supply chain sectors to access the untapped potential of an integrated risk management and insurance solution,” said Gavin Spencer, Head of Insurance, Parsyl.
Earlier this year, Parsyl launched a US-based Managing General Underwriter (MGU), and expanded the scope of 1796, its impact-focused syndicate at Lloyd’s of London, to support global healthcare, perishable foods and pharmaceuticals. The syndicate was first created in response to the Covid-19 pandemic, and anchored the award-winning Global Health Risk Facility.
The expanded program builds upon Parsyl’s existing suite of data-powered insurance solutions designed to lower risk and improve protection for perishable supply chains. The new program allows Parsyl to offer a full range of cargo and supply chain coverages, with a focus to become the leading insurer of perishable goods globally.
As a coverholder and syndicate owner at Lloyd’s, Parsyl issues policies for Lloyd’s (rated “A”) and other insurers rated “A” or better. Parsyl’s products include ColdCover®, a suite of connected cargo insurance products, including the industry’s first parametric temperature solution. Parsyl’s insurance coverages include Cargo and Stock Throughput, Shipper’s Interest, Cargo Legal Liability, Warehouse Legal Liability, Open Lot and Errors and Omission.
Parsyl is the 2021 Insurance Innovation of the Year award winner from both the European Risk Management Association and Insurance Insider in recognition of Parsyl’s leadership of the Global Health Risk Facility.
About Parsyl
Parsyl is a fully integrated, data-powered insurer for essential supply chains. Our vision is to build a world where everyone, everywhere can trust the quality of goods they rely on, from the foods they eat to the medicines they need. Parsyl’s combined IoT and software solution helps customers understand, mitigate and insure risks to goods as they move through the supply chain, both in transit and storage. Customers have the option of using Parsyl’s proprietary sensing devices or can integrate their own devices or data feeds with the Parsyl platform. Parsyl is based in Denver, CO and can be found at parsyl.com or @ParsylHQ.
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