Chubb appoints new chief claims officer from AIG
Property/casualty insurer Chubb has hired Michael Smith as its new chief claims officer. He was most recently chief transformation officer at AIG.
Smith takes over the position from Frank Lattal, the company's chief claims officer since 2003, who will continue to serve as senior vice president, Chubb Group and will be responsible for managing the company's largest and most complex claims globally. In addition, he will provide strategic leadership and management oversight to the company's Brandywine run-off operations.
Smith will lead the company's claims organisation globally and be responsible for all aspects of executive claims management, service and administration for Chubb through its worldwide network of claims offices. He will report to Paul Krump, executive vice president of Chubb Group and president, North America commercial and personal insurance.
"Chubb's claims capabilities are a core and defining strength of this company, and we are pleased to welcome Mike to our leadership team," said Evan Greenberg, chairman and chief executive officer. "Mike brings deep experience in both executive claims management and running significant insurance businesses. He's a strong, hands-on leader with proven success managing and executing change across large, global organizations.
Smith has more than 30 years of experience in insurance and law. Over the last 17 years at AIG, he served as chief transformation officer; chief operating officer, global commercial insurance; president, global financial lines; president, US financial lines; president, financial lines claims; president, miscellaneous professional liability; and chief underwriting officer, miscellaneous professional liability.
Krump added: "Mike has the breadth and depth of expertise in claims, operations and transformational management to help Chubb optimize a claims organization for the digital age. I'm also excited about Frank taking on this new role, which is a terrific use of his proven abilities. I have great confidence in both Mike and Frank, who together share Chubb's steadfast commitment to delivering exceptional claims service and settling claims fairly and promptly."
Greenberg said: "I also want to recognize the significant contributions Frank has made to Chubb's claims organization since he joined the company 20 years ago. His exceptional technical skills and claims adjudication expertise will be a strong asset in his new role handling the company's most complex and challenging claims."
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