Envelop Risk poaches former Hannover Re Bermuda executive

Global specialty cyber insurance analytics and underwriting company Envelop Risk has appointed Aritra (Ari) Chatterjee as its chief underwriting officer. Chatterjee was formerly the lead cyber underwriter with Hannover Re (Bermuda), a line of business he helped to establish.

"We are honored that a market leader of Ari’s stature is joining Envelop,” said Jonathan Spry, chief executive officer of Envelop Risk. “His proven business acumen and technical know-how will complement our team's specialist knowledge and expertise, as we go to market with our advanced form of insurance underwriting, reinsurance transactions, and risk quantification."

According to the company Chatterjee applied a unique conceptual and mathematical underwriting methodology called, "PTBA - Resilience Matrix," which quantifies the risk landscape by mapping data assets to threat trends. He has used this and other approaches to consistently outperform the market. He will share elements of this approach in a forthcoming academic paper.

At his previous position as an Actuarial Underwriter with Hannover Re, Chatterjee underwrote cyber (Re)Insurance, a line of business he helped develop and grow profitably. He has led several cyber reinsurance placements in the US and International markets. Beyond cyber (re)insurance, he has underwritten marine & energy, property catastrophe, credit and surety, intellectual property, and motor deals. Prior to Hannover Re, Chatterjee worked with Flagstone Re and GE Insurance Solutions. Chatterjee led the start-up project “Bernoullian” for MIT Future Commerce course and was voted as one of the finalists out of 200 start-ups.

Ari Chatterjee stated, "After a long pursuit to find the right InsurTech firm that will create the future of cyber insurance, I found Envelop Risk. Envelop’s technology platform and business approaches address quantification and distribution needs for the cyber insurance ecosystem. I was impressed with the dynamic and highly innovative team, and with the corporate governance. I am thrilled to be a part of Envelop, and to help and grow this business."