INSHUR Appoints its First CFO, Clayton Carol

INSHUR, the multi award-winning global embedded insurance provider to the on-demand economy,  announces the appointment of Clayton Carol as its new Chief Financial Officer (CFO). The first to occupy the role at INSHUR, Clay brings a wealth of experience and expertise in financial management and strategic leadership to the company following a milestone year of growth and maturity.

2023 saw INSHUR drive nearly 4x growth, supported by its acquisition of California-based specialty insurer American Business Insurance Services (ABI) in April, which significantly expanded INSHUR’s presence across the US and enhanced its offering for both drivers and platform partners globally. This has positioned INSHUR as the leader in on-demand economy insurance, with over 160,000 active customers around the world.

Clay will play a pivotal role in focusing on the company’s financial strategies and aligning resources to deliver on its ambitious vision and growth objectives, including the company’s expansion across the US, as well as further fundraising efforts following last year’s $26m raise. His proven track record of financial leadership and extensive experience in the fintech sector position him as a valuable addition to INSHUR’s executive team.

Clay joins INSHUR from Better, a fintech mortgage company, where he served as the VP of Finance. During his tenure at Better, Clay oversaw the finance team, established the FP&A program, and successfully raised significant debt and equity financing, including a $200 million Series D round.

Prior to his role at Better, Clay held the position of CFO at two earlier stage companies, showcasing his ability to navigate the unique challenges of fast-growing enterprises. With nearly 20 years of experience as an investment banker at Merrill Lynch and Lehman Brothers, Clay also has a deep understanding of private equity firms, having originated and underwritten debt for leveraged buyouts and non-investment grade companies.

Clay’s areas of expertise include building high-performing teams, strategic business planning, board and investor relations, debt and equity financing, mergers and acquisitions, exit strategies, deal readiness, finance and operations, and budgeting.

In addition to his extensive financial background, Clay has a truly global perspective, having worked in New York City, Hong Kong, and Jakarta over the course of his career, even being fluent in Indonesian. He holds an MBA from the Wharton School and a BA from Cornell University.

Dan Bratshpis, CEO and co-founder of INSHUR, said: “Clay’s strong technical skill set, expertise in leading finance functions and impressive track record in both traditional financial institutions and fintech will be instrumental in driving INSHUR forward as we continue to innovate and grow in 2024 and beyond. His proven leadership will be invaluable as we navigate future fundraising efforts and execute on our ambitious plans for INSHUR.”

Clay Carol, Chief Financial Officer, INSHUR, added: “Following a truly transformative 2023, INSHUR is poised for growth across geographies and products. I’m looking forward to supporting INSHUR’s exceptional leadership team and the company’s ambitions in this exciting time in its journey.”