InsurePay, a leading Insuretech Property and Casualty (P&C) billing and payments platform, including workers’ compensation insurance premium billing and payments, announced the appointment of Michael Carus as Chief Operating Officer & Chief Financial Officer.
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With over 25 years of experience as a technology industry executive, Carus brings an extensive background in the insurance industry, corporate strategy, administration, operations, company scaling, M&A and corporate planning. Carus has a proven track record of efficiently scaling rapid growth companies, which makes him the ideal candidate to support the significant growth opportunity that the InsurePay team is poised to accelerate.
Carus’ role will enable InsurePay to advance the delivery of world-class solutions, including its workers’ compensation Pay-As-You-Go (PayGo) platform that calculates workers’ compensation premiums based on actual payroll data rather than estimated annual payroll amounts, resulting in more accurate premium payments each pay cycle.
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“We are fortunate to capitalize on Michael’s experience of working with a variety of InsureTech and FinTech companies, from startups to enterprise-level organizations. With Michael spearheading our operating and financial initiatives, we will be prepared to extend our growth trajectory, attract new talent, and position the company for future strategic initiatives,” said Adam Beck, President & CEO at InsurePay. “Michael’s experience makes him the perfect leader to manage our long-term operating and financial goals and guide our growth.”
Before joining InsurePay, Carus was the COO and CFO of Utilant and President and COO of RedVision, (both InsureTech leaders). Before leading the sale of Utilant to Majesco in 2021 and the sale of RedVision to First American at the end of 2016, he served as General Partner, COO and CFO of Jerusalem Venture Partners, and COO and CFO of Fundtech, where he steered the company through its initial public and secondary offerings at values approaching $500 million. Prior to that, he was Finance VP of Geotek and Business Assurance Manager at PWC.
“I am excited to join InsurePay’s talented team who is impacting worker’s comp billing for our customers with industry-leading technology that matches insurance payments to risk,” said Michael Carus, COO & CFO at InsurePay. “Together we will work to realize the great growth potential for InsurePay by pursuing the large addressable P&C market.”
As InsurePay’s newly appointed COO & CFO, Carus will partner with Beck to guide the team through its next stage of growth. The appointment comes on the heels of recent InsurePay announcements including news about Insure Pay’s Series B investment and the acquisition of Split Limit Studios and its TRUPAY solution.
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