United Insurance Holdings Corp. (NASDAQ: UIHC) (UPC Insurance or the Company)
, today announced that the Company has appointed Deepak Menon as Vice President of Operations and Business Development. In this newly created cross-functional position, Mr. Menon will be responsible for driving strategic growth efforts of UPC Insurance in all states in which the Company operates. Mr. Menon will work with all departments of the Company to help identify and implement ways to accelerate profitable growth in new and existing markets while improving operating efficiencies throughout the organization.
Mr. Menon, 41, brings to UPC Insurance an extensive 18-year background in the insurance industry, with experience in marketing leadership positions focused on distribution strategy, executing new initiatives and successful state expansion. He also holds the Chartered Property Casualty Underwriter (CPCU) designation. Mr. Menon most recently served as Marketing Director for American Strategic Insurance (ASI), a $1.0 billion premium St. Petersburg, FL-based homeowners insurer. Mr. Menon worked closely with the product, underwriting, claims, and IT departments, and coordinated ASI’s expansion into 22 states as well as the District of Columbia. During his tenure from 2007 until his appointment at UPC Insurance, ASI grew from a small regional carrier to a national carrier ranked as the 19
largest homeowners writer in the U.S and Canada. Mr. Menon played a key role in facilitating that growth and in helping ASI forge strategic partnerships that were instrumental to its successful roll-out.
Mr. John Forney, Chief Executive Officer of UPC Insurance, stated, “We are delighted to have Deepak join our Company, as his impressive experience in our industry and strong business acumen makes him the ideal candidate for this position. I am confident that Deepak will be a valuable asset for increasing and maintaining expansion in existing markets, and will be crucial for the deployment of our programs in new states. We are greatly looking forward to leveraging Deepak’s ideas and initiatives as we continue to expand and grow UPC Insurance throughout the country.”