SAN FRANCISCO, July 27, 2023 (GLOBE NEWSWIRE) -- Archipelago, an AI-powered risk data platform that connects commercial property owners’ data with their insurance markets, today announced the appointment of a new CEO, Alex Lyashok, to lead the firm through its next stage of growth and market adoption. Lyashok took the helm on July 17. Former CEO, Hemant Shah continues to serve full-time as Archipelago’s Executive Chairman.
"The commercial insurance markets have reached an inflection point wherein owners, brokers and insurers are facing pressure to find innovative solutions that can help mitigate the impact of reduced capacity across the industry", said Lyashok. "I am thrilled to join Archipelago, a firm where we combine deep understanding of property risk with the latest advancements in AI technology to unlock value for our customers.”
Before joining Archipelago, Alex Lyashok had an extensive career as a seasoned tech executive and entrepreneur. His latest venture was Merit Protocol, an innovative employment data software company he founded, which was successfully acquired in 2023. Before that, Alex spent over six years at the helm of WorkFusion, a company that became a leader in intelligent automation software for the banking industry. His experience also includes founding a service firm that was later acquired by EPAM where he served as CTO and Head of Global Operations during the company's rapid growth and IPO. Alex holds a Masters degree in Math and Computer Science, as well as an MBA from NYU Stern.
Hemant Shah, Archipelago's Founder, has assumed the full-time role of Executive Chairman and in addition to Chairing the Board, will redouble his focus on Archipelago’s strategy, cultivation of the firm’s customers and development of key business partner relationships, particularly as leading brokers increase their adoption of the platform.
“Alex brings a wonderfully relevant mix of experience and capability to Archipelago, which I believe will take us to the next level of industry-wide standardization and product-driven capability for our customers," said Shah. “Alex’s operating discipline, analytical acumen and AI-savvy track-record gives me the confidence he will successfully drive further adoption of our platform for housing, enriching and making effective use of building data in this market and markets to come.”
Archipelago continues to drive wide market adoption, now with nearly 400 companies using the platform to support their insurance placements and over 2,400 underwriters across the global markets accessing shared Archipelago submissions. Archipelago has raised a total of over $85 million in funding to date.
About Archipelago
Archipelago is an AI technology and data analytics company transforming how commercial property risk data is sourced, shared and used throughout the risk management and insurance value chain. By empowering owners’ risk managers and their brokers with enriched data and data-driven decisions, Archipelago powers improved risk management and insurance outcomes. Learn more at OnArchipelago.com.
Media Contact:
Kyle Kuhnel
Broadsheet Communications for Archipelago
kyle@broadsheetcomms.com
