CNA appoints Accenture veteran as new COO succeeding Merten
Chicago-based commercial insurer CNA has appointed Michael Costonis as its new chief operations officer (COO), responsible for leading all information technology, analytics and operations functions across the organisation.
Costonis succeeds Joseph Merten, who will retire at year-end after 30 years in the insurance and consulting industries.
Costonis joins CNA after a 26-year career at Accenture, where he was the global insurance industry practice Leader. He is said to have worked with more than 50 leading carriers in 21 countries, across all major segments of property & casualty (P&C) and life. According to CNA, Costonis has pioneered a patented analytical method for optimizing claim outcomes, which became the basis for several large claims transformations.
Costonis will report to Dino Robusto, chairman & chief executive officer of CNA, who said: "We are very pleased to have Michael, a recognized thought leader in the industry, join CNA. Michael brings a strong combination of industry insight, coupled with an execution mindset, which is very important to CNA as we continue to leverage advanced analytical technologies and digital platforms."
Robusto added: "I would like to thank J. (Merten) for the incredible work at evolving CNA's technology and digital capabilities, as well as streamlining our operations processes. We were fortunate that J. chose to work the last two years of his career at CNA and we all wish him well."
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