Zurich Insurance Group has announced that it has begun a process to reshape and simplify the group. Over the coming months, Zurich said, it plans to move to a more customer-oriented structure, reducing complexity, creating greater accountability, and empowering teams to deliver products and services in a differentiated way.
“This new organization will be more agile and more accountable, with a clearer line of sight between the top of the company and the people looking after our customers,” said the group's chief executive officer, Mario Greco. “We will approach our target customers with a unified and distinctive face to the market. We will prioritize sound customer outcomes and in so doing ensure that the business delivers consistent levels of profitability.
“I want to renew the sense of an ambitious, entrepreneurial, and innovative culture at Zurich, where talented team members put the customer at the center of everything they do and have all the tools to develop their business within a clearly defined framework towards a shared vision for the company overall.”
Zurich said that its new structure will have the heads of regions (North America; Europe, Middle East and Africa; Latin America; and Asia Pacific), global corporate, farmers, and investment management report to the group chief executive officer.
Zurich also is creating the new role of chief operating officer, which combines responsibility for operations and technology with underwriting, claims, reinsurance, actuarial, and pricing.
Zurich also announced that its executive committee, effective July 1, 2016, will be formed of the following members:
- Mario Greco – Group CEO
- Urban Angehrn – CIO
- Jeff Dailey – CEO Farmers
- Mike Foley – CEO North America
- George Quinn – CFO
- Cecilia Reyes – CRO
- Gary Shaughnessy – CEO EMEA (Europe, Middle East, and Africa)
- Kristof Terryn – COO
“This new organization and strong accountability, empowerment, and outcome orientation will be the foundation for our future strategy. We will see greater market focus and simplification, and deliver the transformation we need for future success in a disciplined way,” continued Mr. Greco. “The simplified structure will also allow us to become more efficient and support the implementation of our communicated cost reduction programs.”
The company also said that Robert Dickie, its chief operations and technology officer, has decided to step down by mutual agreement with the board of directors to pursue other opportunities outside Zurich.
Learn more: https://www.zurich.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].