Pikl recruits Stuart Reid as company chairman

UK: Sharing economy insurance specialist Pikl has announced the recruitment of Stuart Reid as its chairman, following on from the appointment of Angela Seymour-Jackson as deputy chairman who joined last year.

Reid is well regarded in the insurance industry having had a long and distinguished career in the broker world with Stuart Alexander, Bluefin and Arthur J Gallagher. He is also well known to the sharing economy market, having been involved with lobbying efforts that included representing the insurance industry at sharing economy talks and chairing meetings held at 10 Downing Street in 2014.

As chairman of Pikl, his role initially will be to share his experience and provide leadership to the board to help them with their strategy for growing the business. He will also help to ensure that they raise the profile of the need for specialist short-term letting insurance amongst the insurance industry and its consumers.

This is Reid’s first role since leaving Arthur J Gallagher.

In 2012, he was named the Insurance Times CEO of the Year. He was vice president of the Chartered Insurance Institute [CII] and chair of the CII Broking Faculty from 2012-2018, and served as deputy chairman of the British Insurance Brokers Association [BIBA] from 2014-2015.

Reid said: “I am very excited about joining forces with Pikl. Being at the forefront of innovation in our industry is where I love to be and, with Pikl’s innovative products and approach to a new and blossoming market, I cannot wait to get started.

“Without doubt, Pikl has identified a clear gap in the market. It not only has superb commercial potential but will also make a real difference to the millions of people who rent out their rooms, whole properties or even car parking spaces, effectively ringfencing the valuable income they receive from the risk of theft, damage or liability.

“My main business focus for the next 12 months is to provide a link between the board and the senior management to ensure that the strategy is carried out successfully, and to speak to the key players in the broker market to make sure they understand the business opportunities there are for getting into this sector of the market. This is a business with huge potential and any part I can play in realising that potential is something I am excited to start,” he added.

Commenting on the appointment, Pikl CEO and founder, Louise Birritteri, said: “It’s a fantastic coup to have secured Stuart’s support. I have known him for many years and believe he will bring so much experience to the board role, in helping to formulate and execute our strategy and obviously to take full advantage of his many industry contacts built up over his 30 plus years in the industry.

“This is another significant step in the rapid growth of Pikl and provides us with the expertise and insight we need to scale up,” she added.

In May 2019, Pikl announced that it had secured £2.5 million in funding, which included a significant stake from Sir Peter Wood, founder of Direct Line and esure. And, in November of last year, Pikl announced its partnership with specialist insurer Hiscox to develop a scheme to provide insurance for customers using the sharing economy.

The first policies will be aimed at people who let out their properties on a short-term basis.

For more information, visit the Pikl website here.