Boat Fix named Penny Searles as its new CEO. Searles joins the remote monitoring and mechanical support company with more than 25 years of experience in the financial technology and services sectors.
Searles sees Boat Fix — with telematics provided mainly to small and midsize boats — as a solution that reduces potential loss for owners and insurers.
“The global insurance market is facing a challenging time,” Searles said in a statement. “Insurers and reinsurers have been hit hard by the Covid pandemic on multiple fronts [and] … companies are re-evaluating their exposure in all markets, including marine.”
Searles will be tasked with increasing Boat Fix’s collaboration with OEMs, managing the company’s development of new technologies, and progressing its suite of products to benefit insurers and boat owners.
“The advancement of telematics in the marine industry has created a wealth of opportunities throughout the value chain,” Boat Fix founder Alastair Crawford said. “We are thrilled to have Penny take the reins and use her unparalleled business and financial services acumen to advance the benefits of telematics to the marine industry.”