A new firm chaired by Bermuda insurance industry veteran Brian Duperreault aims to streamline the insurance process for small businesses has picked a chief executive officer.

And Attune — the creation of AIG, Mr Duperreault’s Hamilton Insurance Group and its tech partner Two Sigma — yesterday announced the appointment of James Hobson to the top management role.

Mr Hobson, who will step down from his role as chief operating officer of OnDeck, a US industry leader in online small business lending, in March to take up his new role.

He will be responsible for reaching Attune’s goal of using data science and advanced technology to improve the submission and insurance underwriting process for small businesses in the US.

Mr Duperreault said: “If it’s possible to describe an appointment as a perfect fit, then James and Attune meet that description.

“His deep experience of using technology to enable the growth of small businesses aligns with our objective of making it easier for companies in that segment to get the protection they need to succeed.

“I look forward to working with James to make Attune’s significant potential a reality.”

Mr Hobson’s responsibilities at OnDeck included operations, product, analytics, credit, risk management, platform solutions and business development. He also played a major role in OnDeck’s initial public offering three years ago and in the launch of OnDeck’s partnership with JP Morgan Chase in 2015.

He said: “When three companies of the calibre of AIG, Hamilton and Two Sigma come together, you pay attention.

“Attune has already transformed how a small-business owner’s policy is issued and I am excited to build upon this early success.

“I am humbled by the faith the Attune board has in me and am looking forward to working with the Attune team, Brian and the other members of the board and our partners to transform the way small businesses access the insurance they need to protect and grow their operations.”

Attune, launched last year, is a technology-enabled platform set up to meet the needs of the $80 billion small and medium enterprise commercial insurance market in the United States.

The company’s website said: “Attune offers a new vision for SME insurance — one that uses advanced technology to remove the cumbersome inefficiencies that are often resident in traditional underwriting processes.

“Working with brokers and agents, Attune draws on market experience and deep analytical capabilities to develop exactly the products business owners need — quickly and intelligently.”