Naperville, IL – May 15, 2019 – Instec, the market leader in insurance software for commercial program and specialty writers, announced today the promotion of Mike Fagan to President of Operations. Most recently, Fagan was Vice President of Engagement and Product Management. Ray Simon will retain the role of CEO.
In his new role, Fagan will lead the product development, delivery, account management, and IT services groups. The new organizational structure brings together all the functional areas responsible for customer success, from initial engagement through post-production.
“With the growth of our business and more of our customers moving to the cloud, the time was right to consolidate all of our product and post-sale functions under one organization,” said Ray Simon, Instec CEO. “Mike has worked in many areas at Instec. This, coupled with his industry experience, made him the obvious choice for this move.”
Fagan has worked in property and casualty insurance and automation for over 30 years, including ten years with Cigna's Special Risk Facilities. He joined Instec in 1996 and has worked closely with Instec’s clients and delivered many of Instec’s new software releases. In his most recent role, he was responsible for both new product planning and management of new client implementations.
“Instec has had tremendous growth over the past four years,” said Fagan, “and I look forward to maintaining that momentum. In this rapidly changing industry, our customers have remained steadfast and loyal. Our new organization will enable us to better build on the trust they place in us.”
Under the new organization structure, Ray Simon retains the role of CEO and will focus on strategic partnerships, business process, and customer relationships. Sales and Marketing, Human Resources, and Finance will continue to report to him. The organization change is effective immediately.
Instec’s unique approach to systems for the insurance industry enables P&C carriers, MGAs and MGUs to launch programs and specialty offerings from start to first quote in as little as four weeks. With built-in bureau content and reusable business rules, Instec systems provide a platform for innovation with reduced risk. In addition, cloud-based deployment and subscription-based pricing enable insurers to test new programs at a low cost of entry and scale up affordably as the business grows. To learn more, visit instec-corp.com.
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