Manchester fintech Ripe has appointed Alan Thomas, the former UK CEO at Simply Business, as its new CEO.
Thomas was instrumental in shaping Simply Business’ strategic direction and enhancing its position as a leading insurance provider for landlords and small businesses and brings significant industry experience to Ripe, which delivered 17% year-on-year growth across its SME, leisure and lifestyle product portfolio in its last set of results.
Thomas succeeds Paul Williams who, after almost eight years as CEO at Ripe, is moving to a non-executive director (NED) role at the company. Founder and managing director John Woosey will also move to a NED role. Following 15 years of double-digit growth, both executives will transition to advisory roles to continue supporting the business.
Incoming CEO Thomas said: “Ripe has been on my radar following its impressive trajectory in previous years, and I’ve long admired their unique approach of using data, digital marketing and technology to improve the way customers experience insurance. This is a great time to join Ripe, using the platform to transform the way consumers experience insurance, harnessing data and technology to turbocharge our expansion. With such strong foundations already in place within Ripe, I’m confident about what lies ahead and excited to begin this new chapter.”
Outgoing CEO Williams added: “Alan is the perfect person to lead the next phase of our journey. I couldn’t be prouder of the Ripe team and our success to date, and I have no doubt that Alan, with his wealth of strategic leadership experience and deep insurance industry knowledge, will achieve fantastic results. John and I look forward to supporting him and our team in our new roles and as significant shareholders, and we’re confident Ripe will continue to thrive and innovate in the years ahead.”
Founded in 1997 by John Woosey with the aim of providing a fresh approach to insurance, marketing expertise has always been part of Ripe’s DNA. Over the past 27 years, the company has made significant strides in achieving this goal, developing a proprietary technology platform and establishing an expert in-house marketing team. Looking ahead, Ripe is focused on an ambitious product pipeline, further M&A activities, and doubling its office space to support its increasing customer base.
Today, Ripe has evolved into a leading fintech firm, rapidly expanding its footprint in personal and commercial lines. The company serves over 360,000 policyholders, offering hyper-targeted insurance solutions across 20 different products.
In 2022, private investment firm Aquiline Capital Partners LP acquired a majority stake in the company. Since then, Ripe has significantly increased its policyholders and completed its first acquisition.
The new appointment is the second major addition in recent months, after Jamie Richards’ joined the organisation as Head of M&A in July. Thomas’ appointment is subject to regulatory approval and in the interim, Williams will continue as CEO and then work with Thomas to ensure a smooth transition.
