Openly Announces Independent Board of Directors Appointments

Business Wire

Appointments bring decades of insurance, investment, and governance experience as Openly continues scaling its homeowners platform

BOSTON--(BUSINESS WIRE)--
Openly, the premium homeowners insurance company delivering modern coverage through independent agents, today announced new board leadership as the company continues to scale its platform. Michael Watson has joined the Board as Executive Chairman, Mark Flaherty joins as an Independent Director, and existing board member Bart Hedges has been named Lead Independent Director.

The appointments reflect Openly’s continued growth and the increasing scale of its homeowners platform. Watson, Flaherty, and Hedges bring decades of combined experience across insurance, investment management, and corporate governance that will help guide the company’s next phase of growth and strengthen its relationships with independent agents across the country.

“These appointments reflect where Openly is today and where we’re headed,” said Ty Harris, CEO and Co-Founder of Openly. “Michael, Mark, and Bart are exactly the kind of experienced, expert leaders you want around the table as you scale in a complex industry, and we’re thrilled to welcome them into these roles.”

“Openly has built something rare, a technology-forward insurance company with genuine underwriting discipline,” said Watson. “The homeowners market is ripe for a scaled, modern carrier, and I see a tremendous opportunity to help Openly become that. I’m looking forward to working closely with Ty and the board to accelerate that vision.”

“What attracted me to Openly is the combination of a strong leadership team, a clear market opportunity, and a business model that’s proving itself at scale,” said Flaherty. “I’ve seen firsthand how the right governance can unlock the next stage of growth, and I’m excited to contribute to that here.”

Michael Watson – Executive Chairman

Watson is a 45-year veteran of the global financial services industry with experience across the U.S., European, and Asian markets. He is the founder and former CEO and Chairman of Canopius Group, which he built from a $40 million initial capital investment to a $3.5 billion specialty insurer and reinsurer through management buyouts, strategic sales, and major acquisitions. Watson is also a former member of the Council of Lloyd’s and Director of Lloyd’s Market Association.

Currently, Watson is the Chairman of both Carrick Group Limited, a reinsurer, and InsurX Holdings Limited, a digital risk placement exchange. He also serves as a Director for Carbon Underwriting Limited, a data-driven, tech-enabled Managing General Underwriter.

Mark Flaherty – Independent Director

Flaherty brings a career spanning investment management, private equity, and governance. He previously served as Senior Partner and Vice Chairman at Wellington Management, a global investment firm overseeing more than $1 trillion in assets. Prior to Wellington, Flaherty was a Partner at Standish, Ayer & Wood, where he led Global Equity Trading.

He is currently an Independent Director for Goldman Sachs Group, Lead Director at Suffolk Technologies, a venture capital platform specializing in the built environment, and Senior Advisor to RedBird Capital, a $12 billion private equity firm specializing in the sports, media, and financial sectors.

Bart Hedges – Lead Independent Director

Hedges brings more than 30 years of insurance and actuarial experience to his expanded role on the Openly board, where he has served as an Independent Director since 2021. He is also an Independent Director at Trisura Group Limited, a North American specialty insurance company that has scaled to $3 billion in diversified premiums.

Hedges previously held an extensive career at Greenlight Re, Ltd., where he served as President and Chief Underwriting Officer before becoming Chief Executive Officer, leading both the reinsurance and capital management of nearly $1 billion in premium. His deep actuarial expertise enables him to provide strategic counsel on underwriting and pricing initiatives

To learn more about Openly, visit www.openly.com.

About Openly

Openly is a premium homeowners insurance provider. Its centralized platform offers comprehensive coverage, market-leading technology, and exceptional service. Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America. For more information, visit Openly.com or linkedin.com/openlyllc.