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Origami Risk LLC, a risk management and insurance software technology firm, has split its business into two operating divisions, one focused on claims, policy and underwriting software, the other on its traditional RMIS business, as it looks to tap future opportunities for growth.
Company veterans and former senior sales executives Christopher Bennett and Earne Bentley will lead the two units, the Chicago-based firm said Monday.
The new core business division, led by Mr. Bennett, will focus on serving risk pools, third-party administrators, property/casualty insurers, managing general agents and entities with large self-administered workers compensation plans, Origami said in a statement.
The risk division, headed up by Mr. Bentley, will serve Origami’s RMIS clients, as well as those needing health care risk management technology, environmental health and safety, and governance, risk and compliance, Origami said.
Both executives will report directly to Robert Petrie, CEO, Origami Risk.
“A couple years ago, we incubated a new set of tools to provide core processing technology to insurance companies, TPAs, MGAs, risk retention groups, essentially insurance companies and service organizations,” Mr. Petrie told Business Insurance.
“That side of the business now accounts for about one-third of Origami’s revenues,” so the firm is creating two stand-alone entities to “give them the bandwidth and full set of capabilities to focus on each of those complicated markets,” Mr. Petrie said.
Atlanta-based Mr. Bentley, who joined the firm in 2012, was previously executive director of sales at Origami, and responsible for its global sales initiatives. He was a 2018 Business Insurance Break Out Award winner.
Chicago-based Mr. Bennett, who joined the firm in 2011, was previously a sales team lead at Origami.
Origami recently introduced Origami Compliance, a claims-support program that provides adjusters with automated access to forms, rates, rules and regulations to streamline their adjudication process.
Risk management information system firm Origami Risk L.L.C. said Wednesday it has acquired workers compensation service provider Claimwire L.LC.