Insurance for Digital
Asset Businesses

Led by a team of

  • Mike Sapnar CEO

    Mike Sapnar is Co-Founder and CEO of Proof. Mike also leads all insurance efforts across Stone Ridge. Prior to joining Stone Ridge in 2021, Mike served as the President and CEO of Transatlantic Reinsurance for nearly 10 years and held various positions domestically and internationally during his 26 years there. He holds a BA in Economics from the College of William & Mary and earned an MBA in Finance from New York University.

  • Matt Carey COO

    Matt Carey is Co-Founder and Chief Operating Officer of Proof. Matt most recently served as the U.S. Head of Insurance Solutions at NYDIG. Previously, Matt was the co-founder and CEO of Blueprint Income prior to its sale to MassMutual. Matt received an MBA from the Wharton School at the University of Pennsylvania and BA from the University of Pennsylvania.

  • Greg Flood Lead D&O Underwriter

    Greg Flood is Lead D&O Underwriter. He previously served as the head of underwriting at RELM Insurance, where he provided risk transfer solutions to the digital asset industry. Prior to that, he was a Financial Institutions Underwriter at CNA, focused on Specialty Lines Insurance. Greg has unique experience in underwriting complex risks in emerging global industries and innovating products to address new risks arising from the digital asset market. Greg earned a major in Economics from Hobart College.

  • Zach Kramer Lead Cyber Underwriter

    Zach Kramer is Lead Cyber Underwriter. He has previous underwriting experience in both the MGU and traditional carrier space, focusing on cyber, media, tech and professional coverage solutions for middle market and large entities. Prior to underwriting, he focused on automation and process efficiency for insurance operations. Zach earned a major in Finance from the University of Missouri-Columbia.

  • Ethan Kochav Head of Digital Asset Research

    Ethan Kochav is Head of Digital Asset Research of Proof. He was previously a Research Analyst at NYDIG, where he collaborated on a weekly newsletter and numerous research reports. Ethan has vast experience in synthesizing complex concepts, especially in the digital asset complex, and explaining them in clear terms. Before working in the digital asset industry, Ethan was employed in the traditional finance sector, with stops at AQR and J.P. Morgan. Ethan received his B.Sc in Operations Engineering from Columbia University.

Who we are

Proof is a subsidiary of Stone Ridge, a holding company that has built several market-leading businesses
across both insurance and digital assets.

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