Editor's note: Updated 2:10 p.m. ET
(Bloomberg) – American International Group Inc., the largest commercial insurer in the U.S. and Canada, named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.
Lewis, 51, joins from JPMorgan Chase & Co., where he was most recently global chief technology officer for digital at the consumer businesses, the New York-based insurer said Thursday in a statement. He will report to Chief Information Officer Philip Fasano and replaces Rahul Samant who left to become chief information officer of Delta Air Lines Inc.
|Improving digital capabilities
Chief Executive Officer Peter Hancock is working to better integrate operations at a company that was built through decades of acquisitions and then abruptly shrunk through asset sales that were required to help repay a 2008 bailout. The company hired Fasano in 2014 from Kaiser Permanente and then added Michael Brady the next year to the new post of chief technology officer.
Chief Executive Officer Peter Hancock is working to better integrate operations at a company that was built through decades of acquisitions and then abruptly shrunk through asset sales that were required to help repay a 2008 bailout. The company hired Fasano in 2014 from Kaiser Permanente and then added Michael Brady the next year to the new post of chief technology officer.
"Improved digital capabilities will create a global competitive advantage," Fasano said in the statement. "Michael's proven record of success in developing and executing visionary digital transformation strategies will provide a strong foundation for the overall digital landscape we are working toward."
|Customers, employees
AIG's business provides access to huge amounts of data on the frequency of natural disasters, industrial mishaps and auto accidents. The company is hoping to better use that information to price policies and decide which risks to pursue. Lewis will also work on "enhancing the customer and employee experience," AIG said.
At JPMorgan, Lewis worked on applications such as Chase Pay for handheld devices and helped integrate the bank's cards with Apple Inc.'s mobile wallet, according to the statement. He previously had senior technology roles at Lloyds Banking Group Plc and Bank of America Corp. Peter Costanzo, a managing director in technology at JPMorgan, will take over Lewis's responsibilities, said Trish Wexler, a spokeswoman for the bank.
Chubb Ltd., the insurer formed by Ace Ltd.'s acquisition of Chubb Corp., announced Thursday that Ed Levin is taking the newly created post of digital business officer, reporting to CEO Evan Greenberg and Chief Operating Officer John Keogh. Levin is currently division president of accident and health for overseas general insurance.
"Appointing an executive of Ed's caliber to be our first digital business officer demonstrates how important all things digital are to Chubb," Greenberg said in a statement.
Chubb named Jorge Luis Cazar to replace Levin in the accident-and-health role later this year, according to a separate statement. Cazar is currently regional president of Latin America, a role that will be handled by Juan Luis Ortega.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
