Kettle appoints former Root SVP of Reinsurance Espinoza as new CEO

Kettle, the reinsurance focused deep-learning and artificial intelligence (AI) MGA, has announced the appointment of Isaac Espinoza as its new CEO.

Kettle launched with a mission to enhance the understanding of catastrophe and climate exposures with its advanced technological approach to modelling risks.

The focus has predominantly been on wildfire risks, although the insurtech has also branched out to write hurricane reinsurance coverage with the assistance of Reask.

Using advanced AI and machine learning, Kettle aims to better-model exposures and then establish mechanisms and structures to transfer risks to both traditional and capital market sources of reinsurance capacity.

Back in 2022, the company launched Kettle Re Ltd., its own collateralized insurer class of company registered in Bermuda, through which its goal was to transfer a portion of the risks it underwrote to capital markets sourced reinsurance capacity.

Now, two of the Kettle co-founders Andrew Engler and Nathaniel Manning are transitioning to advisory positions at the firm, leaving a gap for a new CEO.

Taking on that challenge will be Isaac Espinoza, the former SVP of Reinsurance at insurtech Root.

Co-founder and CTO, Son Le, remains at Kettle as well and will lead the company alongside Espinoza.

Espinoza has almost 20 years of experience working in insurance, reinsurance, and insurtech.

Before joining Root, Espinoza was an investor and operator at Greenlight Re, supporting insurtech startups and working on the actuarial, underwriting and innovation teams. He began his insurance career as an actuary at Fireman’s Fund in California.

Espinoza commented on his appointment, “I’m excited to continue my career as an operator and leader, working on some of the most important existential questions for the insurance industry and for our planet.

“Kettle has a head-start on modeling emerging risks and providing insurance options in a market where protection is harder and harder to come by.”

Son Le added, “We’re at an inflection point where our unique models can offer protection to customers currently underserved by incumbent providers. Isaac’s arrival is exciting for Kettle and our future in the industry.”

Lauren Kolodny, partner at Acrew Capital, which led Kettle’s $25 million Series A round in 2021, commented, “Isaac’s arrival is an exciting evolution for Kettle as it expands into new lines and new states. This year has been an important growth year. We’re thrilled to welcome Isaac’s leadership.”