IMUA Names New CEO to Lead Digital Transformation in Inland Marine Insurance Sector

The Inland Marine Underwriters Association (IMUA), representing over 90% of commercial inland marine insurers, has appointed Matthew Derrick as its new President and Chief Executive Officer, marking a significant shift toward digital transformation in the industry.

The appointment comes at a crucial time for the inland marine insurance sector, which is facing increasing pressure to modernize its operations and enhance professional development programs. Derrick's background in digital transformation and educational technology, including his previous role as CEO of Kodeco.com where he managed a global team of 300 and led a successful company rebrand, positions IMUA to accelerate its technological advancement initiatives.

Tony Falcone, President of Intact Inland Marine, emphasized the strategic importance of this appointment, particularly in relation to IMUA's recent digital initiatives, including a new website and learning portal. The move suggests a broader industry trend toward digital adoption and professional development in the insurance sector.

The appointment's significance extends beyond IMUA itself, potentially influencing the entire commercial inland marine insurance industry's approach to technology and professional training. As the industry's primary association since 1930, IMUA's strategic direction under Derrick's leadership could set new standards for how marine insurance professionals adapt to evolving market demands and technological changes.