FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--New Paradigm Group, LLC (“New Paradigm”) today announced that insurance industry veteran Mark Groenheide has joined the organization as Senior Vice President & Director of Specialty Insurance Programs. In this role, Groenheide will lead a specialty unit dedicated to enhancing New Paradigm’s initiatives for aligning parametric risk transfer options with protection buyers’ traditional insurance or reinsurance programs.
“We’re excited that Mark has joined our team,” said Bradley Meier, New Paradigm’s Co-Founder, Chairman and Chief Executive Officer. “Mark is one of the industry’s foremost thought leaders for cutting-edge risk transfer programs. His expertise will complement our current and planned initiatives for innovation in the parametric risk transfer arena.”
Groenheide previously held senior roles with GuideOne Insurance Company, HDI Global Insurance Company, and Zurich Insurance Company. New Paradigm has emerged as a leading global insurtech, working with insureds, producers and risk counterparties to advance the use of parametric risk transfer solutions. Using proprietary technology and intellectual property, New Paradigm develops unique parametric programs with features that cannot be found elsewhere in the industry. New Paradigm’s solutions have focused on assisting clients in the corporate, municipal and personal sectors manage defined exposures such as hurricanes, earthquakes, peak catastrophe zones, and terrorism.
“I look forward to serving the industry in this new capacity,” said Groenheide. “New Paradigm is known for its innovation and its commitment to closing the protection gap that exists in many traditional insurance programs. I am grateful for the opportunities I’ve had at GuideOne and other insurers throughout my career. In my new role, I look forward to continuing to work with these companies and other participants throughout the risk transfer value chain.”
New Paradigm Co-Founder Evan Glassman added, “We continue to see growing demand for parametric risk transfer solutions as clients embrace their transparent, rapidly-settling claims processes that help bring certainty and closure to transactions. Mark understands our goal of our integrating parametric solutions into traditional programs, especially in the corporate and municipal sectors. His insights in these areas are unparalleled and will be a key part of our strategic growth going forward.”
About New Paradigm
New Paradigm Group, LLC is a Florida-based insurance holding company with subsidiaries specializing in providing parametric insurance and reinsurance solutions. New Paradigm can deploy substantial financial capacity to provide affordable, first dollar catastrophe cover for risks that are difficult or impossible to insure traditionally. New Paradigm utilizes proprietary parametric triggers featuring a claims settlement process that can be significantly quicker than traditional insurance. For more information about New Paradigm, please visit www.npuins.com.
