Chubb appoints chief digital officer and new chief actuary

Chubb has appointed executive vice president Sean Ringsted to a newly-created position of chief digital officer.

Ringsted is currently the chief risk officer and chief actuary at Chubb and serves as its executive vice president. Prior to ACE's acquisition of Chubb in January 2016, he held these positions at ACE.

In his new role, Ringsted will lead Chubb's digital efforts aimed at transforming the company into a digitally integrated organisation. He will continue to report to chairman and chief executive officer (CEO) Evan Greenberg.

Ringsted will also continue to serve as the chief risk officer. However, the company has promoted Paul O'Connell as senior vice president to succeed Ringsted as chief actuary.

O'Connell is currently the vice president and chief actuary, global property and casualty, and chief actuary, North America Insurance.

In his new position, O'Connell will oversee all actuarial functions, including reserving, pricing and capital performance measurement. He will report to executive vice president and chief financial officer (CFO) Philip Bancroft.

Greenberg said: "Chubb's vision of digital integration encompasses all underwriting, claims, sales and service functions that touch prospective customers, our policyholders, distribution, all internal operations, as well as deepening our insights and transforming the nature of the product we sell and service – in a word, converting the company to a digital enterprise."

"A deep thinker and manager, Sean has the vision, experience and depth of industry knowledge to lead this strategically important mission for our company. While transformations don't occur overnight, I have the greatest confidence in Sean's leadership to drive steady and substantial progress to achieve this strategic objective."

Bancroft added: "We are delighted to promote and appoint Paul to the important role of senior vice president and chief actuary. Paul's extensive experience is matched by his judgment, technical capabilities and management. He has the skills and broad operational perspective needed to guide the actuarial function at Chubb and ensure our continued commitment to risk management excellence."

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