AUSTIN, Texas, July 14, 2020 — Overhaul, an intelligent, real-time supply chain visibility and risk management technology provider, announced today the addition of former Senior Vice President of Great American Insurance Group, Lloyd J. “Pat” Stoik as Chief Risk Officer.
“Pat offers a wealth of underwriting knowledge from assessing and managing motor carrier and cargo risk portfolios,” says Overhaul CEO, Barry Conlon. “With Pat’s hard-won experience in an evolving market, Overhaul gains key insights and a playbook for focusing on what needs to change to stabilize a volatile insurance market that is not working for the North American trucking industry,” Conlon concludes.
In his new role as Chief Risk Officer, Pat will provide leadership for Overhaul’s short- and long-term vertical business strategy aligning technology with insurance, as well as continuing to expand the company’s risk management solutions. With insurance premiums rising by over 40% since 2016, according to a FreightWaves report, and only continuing to increase, both transportation companies and insurers need a solution to balance the risk and impact of nuclear verdicts.
Pat brings over 35 years of underwriting and broker experience to Overhaul, most recently serving as Senior Vice President for Great American Insurance Group. He held reporting responsibilities for four underwriting divisions in the United States and Europe.
Prior to his role at Great American Insurance Group, Stoik spent 27 years with the Chubb Group of Insurance Companies in numerous senior leadership positions, including Senior Vice President of Global Marine with extensive experience managing a global portfolio of business. Pat graduated from Colorado State University with a B.A. and holds the Associate in Risk Management (ARM) and the Certified Insurance Counselor (CIC) designations.
“I’ve long advocated the use of technology to mitigate risk within the transportation industry,” states Stoik. “Barry Conlon and the Overhaul team truly innovate. I’m excited to be part of this groundbreaking insurtech solution for our supply chain clientele.”