21 February 2018Insurance

Travelers creates chief data role to drive tech innovation

US property/casualty insurer Travelers has created a new position within the organisation to strengthen its data and analytics capabilities and advance its innovation agenda.

With the appointment of Bruce Gifford as enterprise chief data and analytics officer, responsible for overseeing the practice, the company aims to enhance focus on its innovation priorities, which include extending its lead in risk expertise; enhancing the experience for its customers, agents and brokers; and improving productivity and efficiency, according to a Feb. 21 press release.

In his new role, Gifford will be responsible for accelerating the transformation of data into insights through the use of existing and emerging technologies, including artificial intelligence tools and techniques.

Gifford will report to Michael Klein, executive vice president and president, personal insurance, and head of enterprise business intelligence & analytics, and to Madelyn Lankton, executive vice president and chief information officer, enterprise operations and eBusiness.

“Data and analytics have long been core components of our business and key competitive advantages for us,” said Klein. “From the development and delivery of our products and services to the ways we interact with our customers and distribution partners, data influences the decisions we make and drives innovation throughout the organization.

"Bruce’s deep knowledge of our company and our industry, together with his background as an actuary, makes him uniquely qualified to take our leading data and analytics capabilities to the next level.”

Lankton added: “Bruce is a proven leader and has played a significant part in growing our existing analytics practice. Our technology, operations and business strategies rely on actionable insights from data, and Bruce will be essential in seamlessly integrating those insights across the organization.”

Gifford joined Travelers in 2009, and has over 30 years of experience in the insurance industry. Previously, he served as senior vice president and chief actuary for the company’s bond & specialty insurance segment while also leading the enterprise business intelligence & analytics function.

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