19 March 2018Insurance

QBE reshuffles roles; CIO resigns

QBE Insurance is aligning its technology and transformation teams under one business unit within its Australian and New Zealand Operations (ANZO), resulting in the creation of new roles and the redundancy of a senior executive.

As part of the transition, a new chief operations officer (COO) will have end to end responsibilities for the technology and business transformation. Steve Raynor will act as the interim COO while the insurer conducts an internal and external search for the expanded role.

The company will also appoint a new chief information officer, bringing together technology, data, transformation and business operations. As a result, the current CIO Tony Forward has resigned, and Val Matthews has been appointed in an acting capacity while an internal and external recruitment process is conducted for the redefined role.

QBE has also created a new strategy team to strengthen and simplify the business. The team will report into the chief financial officer Inder Singh.

Furthermore, New Zealand will be repositioned as a separate business unit. General manager, New Zealand Bill Donavan, will report to Singh.

CEO Vivek Bhatia said the move brought ANZO in line with other operating divisions in the group.

“Given technology’s intrinsic role in delivering on our business transformation, it also makes sense to have these functions aligned under the one business unit to drive greater focus and efficiencies,” Bhatia said.

“Tony was instrumental in modernising our core policy and claims systems with the launch of Guidewire. He was also a sponsor and ally of the QBE Pride Committee, making QBE a more inclusive place to work. I wish him all the best in his future endeavours,” he said.

“Late last year, the team developed our short-term priorities and is working hard on implementing that and transforming QBE. We’ve already made great progress on the insurtech front, with the establishment of QBE Ventures globally, while locally, we’re a founding partner of Insurtech Australia and recently joined Stone and Chalk’s inaugural Insurtech Program, working with startups to solve specific customer needs.

“The General Manager, Strategy role will help drive that agenda in this market, as well as align with global counterparts to ensure we leverage our global footprint and expertise.”

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More on this story

26 February 2018   Australia headquartered QBE has reported a net loss of $1.25 billion for 2017 driven by record catastrophes in the second half of 2017 together with deterioration in its emerging markets businesses and two significant non-cash items.
3 May 2018   Australia-based QBE Insurance Group has closed an investment into HyperScience while entering into a multi-year commercial use agreement to roll out HyperScience solutions across QBE globally.
11 April 2018   Australia-based QBE Insurance Group is replacing its group chief financial officer (CFO) Michael Ford who has assumed the role only in September 2017.