The Sarasota-based technology-focused property casualty insurance company has acquired Centauri Insurance and Lilypad has appointed Rajiv Matta, a patent holder in machine learning, to use artificial intelligence to help expand insurance coverage in vulnerable coastal areas.
Lilypad announced that Matta, who has 20 years of experience working with large carriers and reinsurers, will serve as Lilypad’s Chief Innovation Officer. He most recently served as chief innovation officer for Millennial Specialty Insurance and was managing general agent for The Baldwin Group. Prior to that, he led the international real estate and specialty businesses at Assurant.
“Lilypad is built on a belief I’ve held for years: AI isn’t a feature you add to an insurance company, it’s the foundation you build on,” Matta said in a press release. “Coastal markets are at a structural inflection point. Insurers who are working to own data, enable intelligent automation, and price risk with precision will define the next decade.”
Lilypad, a subsidiary of Arbol Inc., was founded in 2024 when the company acquired Centauri Insurance, also based in Sarasota, from Applied Underwriters. Lilypad is not listed as an active insurance company by the Florida Office of Insurance Regulation. But OIR’s latest quarterly report shows Centauri Specialty Insurance had about 8,400 active policies in the state as of March.
Lilypad also manages companies covering Texas, Louisiana, Massachusetts, Oklahoma, Mississippi, Alabama, South Carolina, North Carolina and Hawaii, the company noted.
The insurance company also recently announced Andy Flanagan as vice president of claims and Tyler Warden as director of sales. Both men worked for Kin Insurance.
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