HONG KONG - Media OutReach - 11 September 2019 - Galileo Platforms Limited (Galileo Platforms), an insurance technology company using blockchain to revolutionise the sector, today announced the appointment of Simon Copley to the Board of Directors as an independent director.
Mr. Copley is the first independent director to join the Galileo Platforms board. Based in Hong Kong, his appointment took effect 1st August 2019.
The appointment represents a significant step forward for Galileo Platforms, a business-to-business operation, as it readies for fresh funding and a pending product launch. The move also ties in with the company strategy to expand the use of blockchain across more sectors of the insurance industry and in a greater number of markets, partnering with challenger insurers, incumbent insurers, distributors and reinsurers.
"We welcome Simon to the board," said Galileo Platforms CEO Mark Wales. "He brings a wealth of very valuable industry experience both in Hong Kong and across Asia Pacific. We see him playing an important role as we push into new markets and expand our product portfolio."
From the UK originally, Mr. Copley worked for more than 30 years advising many of the leading financial services groups in Europe and Asia, mostly on insurance, risk management, banking and capital markets. His experience extends to providing counsel on IPOs. During 21 years as a partner at PwC in Hong Kong, he led the firm's regional insurance industry practice in what was a period of huge sector growth and transformation in the region.
Chair of Galileo Platforms Annette King commented: "Simon will bring additional experience and oversight to our governance and business expansion, which is important given the rapid growth of our business. This knowledge is obviously transferable to our product development and marketing, which is very important too."
Mr. Copley joins Ms. King and Mr. Wales, who co-founded Galileo Platforms in 2016, on the company's Board of Directors.
Galileo Platforms currently serves the property and casualty, health insurance and life insurance market. Using blockchain, it restructures the way insurance is designed, distributed and managed, offering a secure platform that reduces IT costs and eliminates high-cost, low-value components in the insurance distribution chain. It provides the tools for client centred, agile design of insurance products, including real-time transactions for purchasing and claims, on-demand insurance and micro-duration insurance innovations.
About Galileo Platforms Limited
Galileo Platforms is a technology company serving the insurance sector (www.galileoplatforms.com). Using blockchain technology, Galileo Platforms connects participants in the insurance ecosystem, enabling them to deliver revolutionised client experience and reducing costs. It takes much of the functionality typically found in legacy policy administration systems and encodes it in smart contracts in a blockchain. This mutualises the policy administration function, creating new opportunities for insurance. Galileo Platforms enables the insurance of tomorrow.