Brightway Insurance Announces the Appointment of Nick Clements as Chief Executive Officer, Rebrand, and $1.2 Billion of Gross Written Premiums in 2023

GlobeNewswire

JACKSONVILLE, Fla., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Brightway Insurance today announced the appointment of Nick Clements as its new Chief Executive Officer. His appointment is effective March 1^st and follows the launch of a refreshed brand in February and the milestone of more than $1.2 billion of premiums written in 2023.

Nick has more than 20 years of experience building and scaling fintech businesses, both as a founder and an operator within leading financial services organizations. He previously served as President of Credit Cards at OneMain Financial, Co-Founder and CEO of MagnifyMoney (acquired by LendingTree), and CEO of Barclaycard’s UK consumer credit card business. Nick’s career began at Swiss Re, a global insurance leader.

“Nick is a seasoned growth leader, with a strong track record of leveraging technology and data to drive transformational growth. We see tremendous opportunity at Brightway to utilize technology, data, and AI to create differentiated experiences for our customers, agents, and carrier partners and ultimately, drive outsized profitable growth for all stakeholders. We look forward to working with Nick and the entire team at Brightway as we continue on our journey to achieve this vision,” says Sumit Rajpal, Founder and Chief Executive Officer of GrowthCurve Capital which is the majority investor in Brightway Insurance.

Nick said, “I am honored to have the opportunity to lead Brightway. It is a differentiated platform that provides consumers with curated choice as they protect their most important assets, and it provides entrepreneurial agency owners with the opportunity to build and grow their own businesses. We expect to use the power of technology, data, and AI, to delight customers and enhance agent productivity. I look forward to working with the talented Brightway team members to accelerate our growth and welcome more customers and franchise agent owners over the coming years.”

Nick's appointment as CEO comes on the heels of a record year for Brightway, in which the business reached $1.2bn in gross written premiums and added over 100 new franchises, both new records for the business, and the launch of a refreshed brand. Brightway’s new brand represents the company’s commitment to its core values and purpose: helping people protect what matters to them most. The new brand was unveiled on the website February 6^th and will be rolled out across the network throughout 2024.

About Brightway Insurance

Established in 2008, Brightway has grown to become one of the largest personal lines insurance distribution platforms in the U.S. with more than 350 agencies in 35 states and more than $1.2 billion in annual premiums. Through our successful model, agency owners focus on protecting their client’s most important assets through consultation, curated choice, and confidence. Brightway focuses on enabling the success of our agency owners by providing access to a range of carrier partners, centralized back-office support, our purpose-built technology platform, and continuous learning and development resources. Learn more at www.brightway.com.

About GrowthCurve Capital

GrowthCurve Capital is a private equity firm focused on building world-class businesses by leveraging data, analytics, and machine learning, combined with a comprehensive approach to human capital, to accelerate growth and drive value creation. Founded by Sumit Rajpal, former Global Co-Head of the Goldman Sachs Merchant Banking Division, the firm focuses on data-rich control-oriented private equity investments primarily across the technology and information services, healthcare, and financial services sectors. For more information, please visit www.GrowthCurveCapital.com.

Contact:Charles BaumbergerHead of Marketing and Branding
Charles.baumberger@brightway.com