Selective Insurance Group, Inc. has appointed Wole Coaxum as an independent director, the Nasdaq listed property and casualty insurer said on 16 September 2026. The appointment took effect immediately and returns him to a board he served on between 2020 and 2025.
Coaxum also joins the audit committee and the compensation and human capital committee. His arrival takes the board to 13 directors, 12 of them independent.
He had resigned from the board on 30 July 2025 to concentrate on his founder role at Mobility Capital Finance, Inc., the digital banking platform known as MoCaFi, and the company said at the time that the decision reflected no disagreement over its operations or policies. In announcing his return he used the word rejoin.
Coaxum is founder and chief executive officer of On Our Block, a New York based strategic advisory firm that supports capital raising for owner operated businesses. He led MoCaFi, which he founded to serve financially underserved consumers, from 2015 until 2026.
Before turning to entrepreneurship he spent close to two decades in large bank financial services. He was a managing director at JPMorganChase from 2007, where he oversaw commercial credit card operations and sales, and held senior positions at Willis Group Holdings across the United States and Canada. He began his career at Citigroup. He holds a bachelor of arts in history from Williams College and a master of business administration in finance from the NYU Stern School of Business.
John J. Marchioni, chairman, president and chief executive officer of Selective Insurance Group, said: "Wole has a unique set of skills that will enhance our collective Board capabilities. He brings extensive expertise in financial services and FinTech, along with an entrepreneurial leadership background and a strong commitment to increasing economic access."
Coaxum said: "Selective has a proud 100-year legacy of serving customers and communities with leading insurance solutions. I am honored to rejoin the Board and support the company's continued success."
Selective Insurance Group is the holding company for ten property and casualty insurance companies rated A+ by AM Best. It distributes through independent agents and writes standard and specialty commercial lines and personal lines, and flood coverage through the National Flood Insurance Program.
The board addition is a fintech and financial inclusion seat rather than a conventional underwriting or actuarial one. Selective Insurance pointed to his financial services and fintech expertise, his entrepreneurial background and his record on economic access as the capabilities it was adding.
