Renasant Corporation, the parent company of Renasant Bank, headquartered in Mississippi, USA, has announced that its President and COO, Kevin Chapman, will assume the role of CEO for both the bank and the corporation.

Chapman will take over from Renasant’s current CEO, Mitchell Waycaster, who is set to step down in May 2025. Following his tenure as CEO, Waycaster will continue as Executive Vice Chairman for both Renasant Corporation and its banking subsidiary.

In a joint statement regarding Chapman’s promotion, Renasant’s Executive Chairman, Edward Robinson McGraw, and Waycaster hailed the new CEO as a “dynamic leader” with a deep understanding of both “corporate banking strategy and the financial services marketplace.”

Chapman, who will retain his current title and responsibilities as President of both the corporation and the bank, has been part of Renasant Bank since 2005, serving in various roles such as Chief Strategy Officer and Corporate Accounting Officer. Additionally, since 2011, Chapman has served as CFO of both the corporation and the bank.

Established in 1904, Renasant Bank recently reported its first-quarter earnings, revealing deposits and loans totaling $14.2 billion and $12.5 billion, respectively, indicating growth compared to the same quarter in 2023.

In other news, the North American financial sector witnessed a leadership change last week as Canadian Software-as-a-Service (SaaS) fintech Zafin announced Charbel Safadi as its new CEO, succeeding Al Karim Somji, who held the position for over two decades.

Source: fintechfutures.com

Open, a global provider of embedded insurance solutions, has unveiled a new travel insurance product tailored to the unique needs of both individual travelers and travel providers.

This latest offering from Open integrates their cutting-edge Instant Claims technology and introduces Smart Flight Delay, a feature that automatically grants lounge passes to travelers and up to four companions in the event of flight disruptions lasting 60 minutes or longer, as reported by InsurTech Insights.

The primary aim of this innovation is to provide timely assistance to travelers without the inconvenience of having to file a claim.

Built on Open’s digital-first approach, the travel insurance product allows customers to easily manage their policies, customize their coverage, and access support as needed.

It is designed to offer personalized complimentary coverage for partners in banking, telecommunications, and payment cards, ensuring that travelers receive trip protection tailored to their specific requirements.

Additionally, the platform enables travel providers to seamlessly integrate travel insurance into their existing offerings or provide standalone travel insurance for digital brands. This flexibility enhances their product portfolios and enables them to create compelling offerings across various contexts.

Sam Hoppe, Chief Commercial and Insurance Officer UK at Open, expressed, “We are thrilled about the launch of our latest travel insurance product, which aims to bridge the gap between modern digital travel experiences and innovative insurance solutions.

“The seamless, technology-driven journey that travelers expect from airlines and online travel agencies (OTAs) should extend effortlessly to insurance, and that’s precisely where we aim to lead the way.”

He added, “Exciting developments lie ahead for 2024 as we plan to introduce more travel features, including instant claims, cash settlements, and a pay-with-points feature. These advancements promise to drive continued evolution in the travel insurance landscape.”

Source: fintech.global