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Vivint Smart Home Appoints Ron Davies as Company’s First Chief Insurance Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Vivint Smart Home has appointed Ron Davies as the new Chief Insurance Officer, a role created to enhance its smart insurance business. Davies will oversee the development of the company's market strategy and its Managing General Agent (MGA) with proprietary products. Reporting to CEO David Bywater, Davies brings over 20 years of experience in the insurance sector, previously transforming Safe Auto Insurance Group into a technology-driven leader. His appointment aligns with Vivint's strategic vision to disrupt the insurance industry leveraging data insights from more than 26 million devices installed.
Positive
Appointment of Ron Davies as Chief Insurance Officer expected to enhance Vivint's strategic positioning in the smart insurance market.
Davies' background includes successfully transforming Safe Auto Insurance Group into a technology-driven company, indicating potential for similar success at Vivint.
Vivint's smart home technology may provide unique data analytics capabilities that can improve customer service and product offerings.
Negative
Appointment of a new Chief Insurance Officer may indicate potential turnover or instability in Vivint's management structure.
Insurance industry veteran brings extensive experience developing innovative solutions to smart home industry leader
PROVO, Utah--(BUSINESS WIRE)--
Vivint Smart Home, Inc. (NYSE: VVNT) today announced that Ron Davies has been named chief insurance officer. In this newly created role, Davies will lead all aspects of Vivint's growing smart insurance business, including the development of its market strategy, the company’s development of its MGA with proprietary products, as well as its insurance agency. Davies will report to Vivint CEO, David Bywater.
Ron Davies, Chief Insurance Officer at Vivint (Photo: Business Wire)
“Our entrance into the smart insurance industry is highly strategic to our smart home vision, and I can think of no one better than Ron to help make this a reality,” said David Bywater. “He’s a proven leader that has showcased his ability to transform and build insurance companies. He brings a rare blend of strategy, a data-driven approach, and a track record of operational execution that make him a critical and exciting addition to Vivint Smart Home.”
Davies has more than two decades of experience in the insurance industry. Most recently, Davies was the President, CEO and Director of Safe Auto Insurance Group, where over the course of his nine years he transformed the business from a founder-led company to a technology-driven industry leader. By incorporating data analytics that provided insights into customer acquisition and retention, the highly profitable company grew into an extremely capable franchise under Davies’ watch, leading to its acquisition by Allstate in 2021.
Prior to his time at SafeAuto, Davies held a variety of executive and leadership positions with leading insurance brands, including Allstate and Progressive Insurance, as well as smaller more specialized companies.
Davies will be joining forces with 25-year industry veteran Phil Brubaker, who recently came to Vivint from American Strategic Insurance (owned by Progressive Insurance) as Vice President of Insurance Product, and James Nuttall, Senior Director of Insurance Strategy and Planning.
“After hearing David’s vision for the company, meeting the team, and seeing the powerful platform insights that Vivint has with over 26 million devices installed across 1.8 million homes, it was obvious to me that Vivint has serious potential to disrupt the insurance industry,” said Davies. “The opportunity to leverage data that no other insurance company has in order to provide homeowners with an even greater layer of protection is incredible, and I can’t wait to bring our offering to market.”
Davies graduated from the United States Military Academy West Point with a Bachelor of Science in both Economics and Finance, and later received his Master of Business Administration from Harvard Business School.
About Vivint Smart Home
Vivint Smart Home is a leading smart home company in North America. Vivint delivers an integrated smart home system with in-home consultation, professional installation and support delivered by its Smart Home Pros, as well as 24/7 customer care and monitoring. Dedicated to redefining the home experience with intelligent products and services, Vivint serves more than 1.7 million customers throughout the U.S. and Canada. For more information, visit www.vivint.com.
Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including statements regarding, among other things, the Company’s plans, strategies and prospects, both business and financial, including without limitation statements regarding the Company’s current and planned insurance product offerings and marketing strategies within the insurance industry. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties, including those discussed in Part I, Item 1A. “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2022 (the “Form 10-K”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Although Vivint Smart Home believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in those statements will be achieved or will occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Except as required by law, Vivint Smart Home does not undertake and expressly disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. You should read the documents Vivint Smart Home has filed with the SEC, including the Form 10-K and the Company’s other periodic filings, for more complete information about the Vivint Smart Home. These documents are available on both the EDGAR section of the SEC's website at www.sec.gov and the Investor Relations section of Vivint’s website at www.vivint.com.
