The chair of Uber UK and Moneybox is to help lead a Greater Manchester-based technology company that sold a majority stake to a US private equity firm towards the end of last year.
Laurel Powers-Freeling has taken on the role of chairman at Wythenshawe-based Ripe Thinking.
She has chaired Uber UK since October 2017 and personal finance platform Moneybox since October 2021.
She has also held top positions at M&S Bank, Lloyds Bank and American Express.
The appointment comes after Aquiline Capital Partners, which is headquartered in New York, bought into Ripe Thinking last year.
A digital underwriting and insurance distribution platform, Ripe Thinking was founded in 1997 and has more than 280,000 policyholders, protecting their specialised needs across golf, boats, caravans, and cycles, as well as providing insurance to small business owners such as personal trainers, musicians and photographers.
Laurel Powers-Freeling said: “The Ripe team have an aptitude for innovation, the ability to digitally outpace the market and the tech infrastructure needed to change the future of insurance.
“Ripe’s developed a platform that can reach insurance customers in a hyper-targeted, efficient, and appealing way.
“For me, what is truly compelling about the business is that, while currently a bit modest in its footprint, it now has the formula – and the backing – needed to transform the sector – it’s a fintech primed to scale and win.”
She succeeds Colin Whitehead in the role of chairman who has stepped down to start his retirement.
Paul Williams, CEO of Ripe Thinking, added: “We’re accelerating towards an exciting phase – with the opportunity to explore new markets and the ambition to become a household name.
“We welcome our new chair at a pivotal time for Ripe. Laurel has unrivalled tech and financial industry expertise, and a track record of leading companies that are digitally transforming their sector.
“With Aquiline and Laurel’s strong belief in our potential, alongside significant investment now being deployed to scale up the business, we are on a path to redefine how insurance is done.”
