Headquarters:
California
Year founded:
2025
Number of employees:
65
Phone:
866 595 8413
Email:
RPS.Marcomm@RPSins.com
Website:
balavantinsurancegroup.com/
LinkedIn:
linkedin.com/company/balavant-insurance-group/
“We prioritise embracing cutting-edge technologies, creative problem solving and continuous improvement to enhance our premium funding solutions and provide exceptional value to our clients”
Brett Bastow, IQumulate Premium FundinG
Rekha Skantharaja
Chief Executive Officer
Michael Sothen
Chief Financial Officer
Tracy Bernard
Chief Program Officer
Leadership
Rekha Skantharaja is CEO of Balavant, an independently owned platform that scales specialty insurance companies through strategic partnerships, disciplined growth, and a people-first approach. With 16+ years of executive leadership, she previously led Tangram Insurance through significant financial growth, cultural transformation, and multiple specialty acquisitions, building a majority-female executive team and expanding opportunities for veterans and underrepresented talent. Today, she leads Tangram alongside Balavant’s portfolio companies, targeting $1 billion in premium.
A first-generation American, Skantharaja has been honored with Insurance Business America’s Elite Women, three consecutive Hot 100 recognitions, and Business Insurance’s Women to Watch award.
Chief Executive Officer
Rekha Skantharaja
Michael Sothen is chief financial officer of Balavant Insurance Group, where he leads finance and accounting across the platform. A leader with more than 25 years of experience, he previously served as chief financial officer of Nation Safe Drivers and spent nearly nine years at Brown & Brown and its MGA subsidiary Arrowhead, where he was divisional CFO for services and national programs.
Chief Financial Officer
Michael Sothen
Tracy Bernard is chief program officer of Balavant Insurance Group, where she leads insurance product development, reinsurance, and underwriting strategy across the platform. She brings more than 20 years of experience across reinsurance, specialty program underwriting, and brokerage partnerships.
Bernard previously served as senior vice president, underwriting and reinsurance at Energi Insurance Services and spent seven years in treaty reinsurance at Aon Benfield.
Chief Program Officer
Tracy Bernard
Omeed Kazemi
Chief Operating Officer
Omeed Kazemi is chief operating officer at Balavant, where he leads strategic growth initiatives, M&A integrations, and operational excellence across the portfolio. He brings extensive experience at the intersection of insurance, technology, and financial services. His background includes overseeing business operations, revenue and retention strategy, and complex cross-functional initiatives.
Chief Operating Officer
Omeed Kazemi
John Jankowski
Chief Information Officer
John Jankowski is chief information officer at Balavant, where he leads enterprise applications, IT operations, and technology strategy across the platform. He brings more than 20 years of technology leadership experience spanning IT, program operations, claims, and business change. He most recently served as chief information officer of Trium Cyber, an MGA specializing in cyber and property insurance, and previously held senior technology and operations roles at Aspen Insurance Group, including CIO and Head of IT for the Americas.
Chief Information Officer
John Jankowski
Stevens & Associates Lawyers is a leading and trusted employment law firm based in Sydney known for delivering high-quality legal expertise in the area of employment law and industrial relations across Australia, alongside a proven track record of effectively and swiftly resolving a variety of workplace law issues.
In the past year, the firm’s growth has been notable. It has:
• experienced a 213% growth in the number of client matters, increasing from 149 client matters in the 2022 financial year to 390 client matters in the 2023 financial year
• improved its online visibility, leading to over 50 online enquiries each month and a conversion rate of client leads of up to 40%
• significantly expanded the breadth and type of matters that it advises on day to day, which has increased the firm’s skillsets, diversity and resilience
• expanded its community outreach by collaborating with local Sydney venues for client seminars and continuing active participation in a Sydney small/family business group
Stevens & Associates Lawyers has adapted to digital trends by implementing an effective strategy with SEO and web design, resulting in a structural shift that has seen increased representation of employees where the firm previously mainly advised employers.
The firm’s recognition as a “Fast Firm” attests to its momentum in the employment law space.
“IQumulate is on a technology journey, and we’re just getting started”
Wayne Tower,
IQumulate Premium Funding
Jim McKenney
Chief Digital Officer
Elizabeth Bounds
General Counsel
Nealy Farshadi
Principal, Strategic Client Relations
Pam Chhabra
Manager – Residential Strata
Jim McKenney joined RPS as chief digital officer in 2025, bringing more than 25 years of digital leadership experience across insurance, technology, product, underwriting, and finance. He previously spent more than two decades at Liberty Mutual Insurance and served as CEO of an insurtech startup focused on modernizing broker and carrier operations.
At RPS, McKenney leads the company’s digital strategy, using data analytics and innovation to identify growth opportunities and strengthen client solutions. He holds a BBA in accounting from the University of Massachusetts, Amherst, and is a Certified Public Accountant.
Chief Digital Officer
Jim McKenney
Elizabeth Bounds oversees Brown & Riding’s legal, risk management, and claims departments. As the company’s chief legal resource, she reviews and negotiates corporate contracts and manages the firm’s litigation, internal legal resources, and relationships with outside counsel.
She also works closely with B&R’s senior management in developing overall risk management strategies for the firm and is directly accountable to the Board of Directors for implementing risk control measures and for the facilitation and oversight of corporate liability insurance placements. In the claims department, she takes an especially active role in policy interpretation and client claims advocacy.
General Counsel
Elizabeth Bounds
Nealy Farshadi is instrumental in helping strengthen and grow Brown & Riding’s client relationships. She maintains and improves quality procedures, oversees B&R’s ISO certification, and manages the firm’s client feedback program. Her contributions enable the executive management team to act on client input effectively. As a result, B&R’s client feedback scores greatly exceed the average and continue to improve each year.
Farshadi also supports and furthers the growth of B&R and its employees by contributing to professional development within the organization and being a resource to staff.
Principal, Strategic Client Relations
Nealy Farshadi
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
One culmination of these efforts has been the real-world, needs-based IQEdge solution. A one-stop online quoting tool designed for both the Australian and New Zealand markets, IQEdge delivers quotes in under 60 seconds. Plus, the solution offers quote comparison and quote versioning capabilities, enabling users to review vital historical and financial data in a single page view.
IQEdge can streamline and automate application processing, underwriting document verification and payment collection, cutting the need for manual labour and minimising processing errors. A digital “self-service” platform, IQEdge, reduces the need for customer and administrative support. Meanwhile, borrowers can access their accounts, make payments and manage their policies independently and through sales and support teams, which are always available for further assistance.
“We’ve created a quality platform that simplifies the quoting process yet amplifies the customer experience,” says Gordon. “It’s a real game changer.” IQumulate offers an online digital quoting tool to clients. The best-in-market solution enables IQumulate to tailor funding offerings to brokers that align with their prefered distribution channel.
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What does IQumulate have in mind for the future?
“IQumulate is on a technology journey, and we’re just getting started,” says Wayne Tower, CEO. “Through continuous engagement with our clients, partners, marketplace and industry, we will listen to the needs as they arise and position our business to be agile and respond to changes as they occur.
“Faster decision-making innovations such as AI-powered decision support systems can expedite the underwriting and approval process, leading to quicker responses to clients. This can improve client satisfaction and potentially attract more business, with the potential to allow IQumulate to capture a larger market share, whilst continuing to deliver service excellence to clients.”
“As forward-thinkers with a digital and ‘do it better’ mindset, we collectively and proactively look to learn and improve on our customer experience for our clients, paving the way for successful business outcomes for our clients and our business in the coming years ahead.
“We’re excited for the future and look forward to what’s on the horizon.”
Adam Basaldella
Manager – Claims
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Product Manager
Claire Watson
Stephen McMillan first entered the financial services Industry when he joined GE Capital as a finance analyst in 2008, from which he progressed through roles working both onshore and offshore. From there, he moved into Pacific Premium Funding as a financial planning and analysis leader in 2012 and was a key resource in the evolution of the business, first with the successful sale to Macquarie Pacific Funding and then the following progression into IQumulate Premium Funding, where he is now the commercial manager.
As commercial manager, McMillan leads a team that is responsible for commercial analysis and business support, identifying and reporting improvement initiatives, and the securitization and treasury functions of the business.
Commercial Manager
Stephen McMillan
“RPS is committed to driving an inclusive workplace for the benefit of our clients, employees, and the communities in which we live and work. We foster an environment that embraces the diverse talents, perspectives, and ideas of all employees, enabling everyone to reach their fullest potential”
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“We invest in growing and training all of our employees, starting with early talent up through our highly experienced employees, in an effort to set them up for success and a long career within RPS and this industry”
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Ivan Verescuk
Chief Executive Officer and Managing Director
Shaun O’Brien
Head of Underwriting
Emily Walker
Head of Strata and Development
Rex Oakman
Head of Operations and Risk
Sandy Newton
Head of Underwriting
Andrew Mitchell
Manager – NSW
Michael Prokopis
Manager – Southern Region
Pam Chhabra
Manager – Residential Strata
Jeffrey Valdivia
Manager – Commercial Strata
Adam Basaldella
Manager – Claims
Balavant Insurance Group is a leading platform for MGAs. It provides its portfolio companies with shared platform services, such as capital, carrier capacity, marketing, best-in-class technology, finance, and operations infrastructure, so underwriting teams can stay focused on programs and clients while Balavant bears the operational weight.
Balavant’s portfolio companies maintain full underwriting authority over programs, pricing, and client relationships, and keep their entrepreneurial culture intact.
Formed in 2025 and backed by SkyKnight Capital, Balavant is anchored by Tangram Insurance Services, with over $200 million in gross written premium across more than a dozen programs. The platform grows through organic expansion, team recruitment, and strategic acquisitions across admitted and E&S lines.
The talent strategy itself spans the full employee lifecycle. RPS has built on the success of its college intern and early talent programs by introducing structured coaching and mentoring relationships, while expanding recruiting efforts that support its diversity and inclusion initiatives. Central to this is a learning and development function offering skill development paths tailored to career growth across RPS’s varied business lines – brokerage, binding and MGA, programs and wholesale benefits among them.
That people-first approach extends to how RPS defines its culture of inclusion. The firm describes a workplace built to embrace diverse talents, perspectives and ideas, with the stated goal of helping every employee reach their fullest potential for the benefit of clients, employees and the communities RPS operates in.
RPS is committed to ensuring cultural standards are upheld, and provides opportunities for every employee voice to be heard. Every other year, the firm fields an employee engagement survey, using the results to identify strengths, surface opportunities and prioritize actions that improve the workplace experience. It’s a vital opportunity for employees to directly help shape how the organization works.
For clients and partners, RPS says that investment in people translates into a strategic partnership grounded in deep expertise and a willingness to handle risk with the same care clients would apply themselves, customizing solutions rather than offering one-size-fits-all coverage.
As RPS continues to expand its talent pipeline and deepen its learning infrastructure, the firm is positioning its people strategy as the mechanism that will continue to drive its performance in the years ahead.
