The Italian insurtech company is now an international group, following the recent opening of new offices in the UK and Spain
Prima Assicurazioni, an insurtech company that has revolutionised the relationship between customer and insurance thanks to technology, closes 2022 with premium income of approximately 660 million euros, up 32% on 2021, and has structured itself as an international group to support and consolidate development in Italy and abroad.
The company, which has more than 2.5 million customers in Italy and is the market leader in direct motor insurance, with 30% market share, is pursuing organic growth in foreign markets, having opened new offices in the UK and Spain in Q4 2022, with the aim of extending its business model based on technology and innovation.
Prima has therefore adopted a two-tier organisational structure, Global and Local, with dedicated management and responsibilities, and strengthened the Global team with two key appointments reporting directly to the Group CEO, George Ottathycal, who will be in charge of implementing cross-country a strategic path to position Prima as the leading insurtech company in Europe.
The Chief Technology Officer, Peter Caron, is in charge of Prima's global technology development. He heads Prima's widespread research and development hub, where developers, engineers and data scientists work on the continuous refinement of proprietary algorithms and software to constantly redefine new industry standards. Caron has more than 25 years of experience in creating, developing and leading software development teams. Previously, he worked as Senior Vice President of Engineering at HelloFresh.
Nichole Viviani, appointed Chief People & Culture Officer, has the task of tailoring Prima's strategy in the various countries to offer a working environment that enables every talent to reach his or her full potential, with a focus on full-remote opportunities and 'work-life balance'. Viviani previously held the position of Chief People & Marketing Officer at Xplor Technologies.
In addition, Andrea Balestrino, promoted from within Prima, takes on the position of Country Manager Italy, after having led the development of Prima's Intermediary network, now spread throughout the country, as Commercial and Business Development Director. Balestrino joins Nicola Ielpo, who was appointed Country Manager UK, and Ignacio Castilla Salas as Country Manager Spain.
“We are working to become the first insurtech company at European level with organic growth”, said George Ottathycal, CEO of Prima Assicurazioni, and continues: “Rightnow, we already are by number of clients, although of course for now almost all of them are in Italy. By the end of 2023, the company aims to achieve a total premium value of around 30 million between the UK and Spain foreign offices, while we expect the foreign offices to contribute 25% of the Group's premium income by 2027”.