Federato Appoints New Chief Revenue Officer to Accelerate AI Integration
Federato has appointed Yogesh Sapre as its chief revenue officer, marking a significant addition to its leadership team. Sapre brings over 25 years of experience in the property and casualty insurance sector, particularly in core systems, to the AI-native insurance platform. His appointment follows Federato’s recent $100 million Series D funding round led by Growth Equity at Goldman Sachs Alternatives.
Federato specializes in developing AI-native software aimed at assisting insurers, MGAs, and aggregators in modernizing their operations and enhancing efficiency in underwriting and core workflows. The platform integrates AI directly into insurance operations, providing an alternative to traditional systems that layer AI on top of existing infrastructure.
Sapre's addition supports Federato’s growth strategy as insurers increasingly seek to incorporate AI into their underwriting and policy administration processes. The company plans for international expansion in the EMEA, Asia Pacific, and Japan (APJ) regions. Former chief revenue officer Dave Frechette will remain with the company, focusing on these international growth efforts.
In its ongoing expansion, Federato has been onboarding experienced executives from established software firms. Notable hires include former Sapiens executive Ben Howell and former Guidewire executive Roland Slee. This strategic move aligns with Federato's vision of integrating cutting-edge AI solutions into the insurance risk management framework.
Federato co-founder and CEO Will Ross highlighted the industry’s shift towards AI-native technologies, stating that Federato is now a priority at the board level for many insurers. He emphasized Sapre's extensive expertise in P&C insurance systems and his understanding of integrating AI as a transformative element rather than an add-on to legacy systems.
Yogesh Sapre expressed his enthusiasm about joining Federato, citing the company's strong engineering focus and its role in accelerating the adoption of AI-native technologies within the insurance sector. He noted the increasing eagerness of insurers to employ AI throughout the policy lifecycle to achieve efficiencies within regulatory compliance frameworks.
Roland Slee, regional vice president for APJ, commented on the technology’s impact in the region, noting that insurers in APAC and Japan are realizing the limitations of legacy systems with bolt-on AI solutions. According to Slee, Federato's approach of embedding AI into the core of operations offers tangible business benefits and improved outcomes in claims processing and risk assessment.