233 Millennium - Eighteenth Edition FINANCE AND INSURANCE Richard E. Stamets is an insurance industry innovator currently serving as the chief commercial officer of BluePond AI. An insurance tech startup dedicated to streamlining workflow for the commercial insurance industry. BluePond AI has developed a generative AI system with capabilities including policy validation and contract review. Throughout his career, Mr. Stamets has merged his interest in problem solving with emerging technologies with his passion for the insurance industry. After initially applying to study computer science, he earned a bachelor’s degree in business management with a concentration in computer systems from Moravian University. In 1995, he earned a CPCU designation, and in 2003, he completed an associate of commercial underwriting (AU) designation through the Insurance Institute of America. Mr. Stamets began his career in 1989 as an underwriter for Atlantic Mutual and went on to serve as a senior underwriter and officer at Chubb before becoming an associate vice president at Caliber One Indemnity Company in 1998. He continued to move into senior leadership roles through the 2000s, spending five years as a branch vice president for CNA before joining AIG as a vice president of distribution, rising to strategic sales and distribution executive by the time of his departure nine years later. Before accepting his current position at BluePond AI in 2024, Mr. Stamets took on a diverse range of underwriting and business leadership positions, serving as head of underwriting at Attune Insurance and senior vice president of business development at both Thimble and Arch Insurance Group. He hopes to draw on his unique perspective on the industry and its needs to continue to grow BluePond AI’s market share, emphasizing the value of introducing cutting-edge technology to a notoriously changeaverse field. Mr. Stamets credits his success to his grit and determination and underscores the value of committing to goals, no matter how unlikely. In his personal time, he volunteers for Habitat for Humanity and is a frequent donor to area charities. Millennium Magazine Featured Listee RICHARD E. STAMETS CHIEF COMMERCIAL OFFICER BluePond AI Mendham, NJ
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