Carus’ role will enable InsurePay to advance the delivery of world-class solutions, including its Pay-As-You-Go (PayGo) workers’ compensation platform which calculates accident compensation premiums based on actual payroll data rather than estimated annual pay amounts, resulting in more accurate bonus payments with each pay cycle.
“We are fortunate to capitalize on Michael’s experience working with various InsureTech and FinTech companies, from startups to enterprise-level organizations. With Michael leading our operational and financial initiatives, we will be poised to expand our growth trajectory, attract new talent, and position the company for future strategic initiatives,” said Adam Beck, President and CEO of InsurePay. “Michael’s experience makes him the ideal leader to manage our long-term operational and financial goals and guide our growth.”
Prior to joining InsurePay, Carus was COO and CFO of Utilant and President and COO of RedVision, (both leaders of InsureTech). Prior to leading the sale of Utilant to Majesco in 2021 and the sale of RedVision to First American in late 2016, he was General Partner, COO and CFO of Jerusalem Venture Partners, and COO and CFO of Fundtech, where he led the business. by its IPOs and its reinsertions at values approaching $500 million. Previously, he was Vice President Finance at Geotek and Head of Trade Assurance at PWC.
“I’m thrilled to join the talented team at InsurePay who are impacting employee billing for our clients through cutting-edge technology that pairs insurance payouts with risk,” said Michael Carus, COO & CFO. at InsurePay. “Together, we will work to realize InsurePay’s great growth potential as we pursue the broad addressable P&C insurance market.”
As InsurePay’s new COO and CFO, Carus will partner with Beck to guide the team through its next stage of growth. This appointment follows recent announcements from InsurePay, including news of Insure Pay’s Series B investment and acquisition of Split Limit Studios and its TRUPAY solution.
InsurePay® is an Insuretech billing and payment provider whose solution enables insurers to seamlessly offer a Pay-As-You-Go (PayGo) billing and payment solution for the P&C market, including carriers. workers’ compensation insurance and policyholders, where insurers can monitor each policyholder’s exact premiums for each pay cycle, all through InsurePay’s secure and personalized portal with direct data connections to major companies of pay. Today, InsurePay processes more PayGo online billings than any other independent service company in the world. To learn more, visit www.insurepay.com or follow the company on LinkedIn.