Manchester fintech company, Ripe, has appointed Alan Thomas, the former UK CEO at Simply Business, as its new CEO. Thomas was pivotal in shaping Simply Business’s strategic direction and elevating its status as a leading insurance provider for landlords and small businesses. He brings considerable industry experience to Ripe, which recently reported 17% year-on-year growth in its SME, leisure, and lifestyle product portfolio.
Thomas succeeds Paul Williams, who, after nearly eight years as CEO at Ripe, is transitioning to a non-executive director (NED) role alongside Founder and Managing Director John Woosey, who will also become a NED. Both executives will remain involved in advisory capacities to support the business, continuing a legacy of 15 years of double-digit growth.
Incoming CEO Thomas remarked, “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 expressed, “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 with the aim of providing a fresh approach to insurance, Ripe has made substantial progress toward this goal over the past 27 years. The company has developed a proprietary technology platform and established an expert in-house marketing team. Looking forward, Ripe is focused on ambitious product pipeline developments, further M&A activities, and doubling its office space to support its growing customer base.
Currently, Ripe has evolved into a leading fintech firm, rapidly extending 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, a majority stake in the company was acquired by a private investment firm. Since then, Ripe has significantly increased its policyholders and completed its first acquisition.
Thomas’s appointment follows another significant addition to the team, with Jamie Richards joining as Head of M&A in July. Subject to regulatory approval, Thomas will commence his role, during which Williams will continue as CEO and work with Thomas to ensure a smooth transition.
Alan Thomas’s appointment as CEO marks an exciting new chapter for Ripe, a company known for its innovative use of data and technology in the insurance sector. With a strong foundation and ambitious plans for the future, Ripe looks poised to continue its growth and transformation under Thomas’s leadership.