Piko Labs AI, Inc. (Piko) has appointed Steve McElhiney as vice chairman and chief commercial officer, effective March 2026. The industry veteran joins the Dallas-based technology firm from Augment Risk, where he served as partner for captive and alternative risk transfer (ART) solutions. In his new role, McElhiney will focus on the application of artificial intelligence (AI) and data modernisation to unlock value for captives and alternative risk structures. Piko, a venture capital-backed collective of technologists and insurance leaders, aims to eliminate operational friction in the captive insurance industry through AI-driven tools. The firm identifies unstructured and unstandardised data as a critical bottleneck preventing captive programmes from scaling effortlessly. By combining technical execution with a deep respect for the captive sector, the team at Piko is engineering solutions to transform fragmented operations into actionable truth. Central to this mission is the firm's focus on unified ledger technology and the removal of complex data management hurdles that often hinder bespoke insurance programmes. Commenting on his appointment, McElhiney says: “Operational friction has long constrained the growth and scalability of captives. Our mission is to remove that friction and unlock the next era of expansion for the industry.” He adds: “My career in captives and reinsurance has led me to this role at Piko. I am committed to creating a more efficient, data-driven, and strategically empowered future for captive owners and stakeholders.” McElhiney brings more than two decades of experience across risk financing, reinsurance, and the full lifecycle of captive insurance. His past experience includes serving as senior vice president and global director of reinsurance at Artex Risk Solutions. He also spent 16 years as president of EWI Re, Inc., where he simultaneously served as chief risk officer for Valhi Corporation and president of its Vermont captive, Tall Pines Insurance Company. A prominent figure in the industry, McElhiney is a former chairman of the Captive Insurance Companies Association (CICA). He has also served as president and chairman of the CPCU Society and chairman of the Vermont Captive Insurance Association (VCIA).
