InsLogic, a leading provider of online insurance infrastructure services, has appointed former Bank One Chairman and CEO John McCoy to the InsLogic Board of Directors.
“Over the last 30 years John McCoy has earned a reputation as a financial services visionary. His experience in guiding strategic growth, developing new markets and delivering customer satisfaction is going to be of tremendous value to the company,” said InsLogic CEO Peter Berczi. “The insight that John will bring to InsLogic will be a crucial element in the continued expansion of our operations in the U.S.,” Berczi said.
InsLogic has been operating in the Canadian market for more than five years prior to its expansion into the U.S. in Q2 2000. The company provides a series of multi-channel, insurance infrastructure and agency services linking insurance companies to consumers through established brands. Earlier this year InsLogic received a $30 million in investment from Warburg Pincus, Marsh & McLennan Capital and majority shareholder Onex Corporation.
“After I reviewed InsLogic’s capabilities I knew I wanted to be involved with the company,” McCoy said. “The insurance business is rife with inefficiencies that prevent customers from getting what they want, when they need it, and how they want it. InsLogic’s multi-channel approach to selling and servicing insurance through established, brand-name institutions is a natural solution for addressing these inefficiencies,” McCoy said:
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