Chubb Limited announced that Sean Ringsted has been appointed executive vice president, Chubb Group, and chief digital officer, a newly created position. Currently, Ringsted is executive vice president, chief risk officer and chief actuary. In his new role, Ringsted will lead Chubb’s digital efforts aimed at transforming the company into a digitally integrated organization. He will continue to serve as the company’s chief risk officer.
Paul O’Connell has been promoted to senior vice president, Chubb Group, and will succeed Ringsted as chief actuary. Currently, O’Connell is vice president and chief actuary, Global Property & Casualty, and chief actuary, North America Insurance.
As chief digital officer, Ringsted will lead the transformation of all areas into a digital environment, including underwriting, analytics, claims, marketing, internal operations and technology. He will continue to report to Evan G. Greenberg, chairman and chief executive officer.
“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,” said Greenberg.
As chief actuary, O’Connell will oversee all actuarial functions, including reserving, pricing and capital performance measurement. He will report to Philip V. Bancroft, executive vice president and chief financial officer.
Ringsted has 25 years of experience in the insurance industry. Prior to ACE’s acquisition of Chubb in January 2016, Ringsted was chief risk officer and chief actuary of ACE Limited. He was named chief actuary in 2004 and, in 2008, was appointed to the additional role of chief risk officer. He was appointed executive vice president, ACE Group, in March 2014. Ringsted’s previous leadership roles at ACE include serving as executive vice president and chief risk officer for ACE Tempest Re from 2002 to 2004, and senior vice president and chief actuary for ACE Tempest Re from 1998 to 2002. Prior to ACE, Ringsted was a consultant at Tillinghast-Towers Perrin.
O’Connell has more than 35 years of experience in the property/casualty insurance industry. Prior to ACE’s acquisition of Chubb in January 2016, O’Connell was chief actuary, Global Property and Casualty for ACE, a position he held since 2010. He was appointed vice president, ACE Group, in March 2014. Prior to joining ACE in 2002, he was a principal at PricewaterhouseCoopers. He began his career at Continental Insurance.
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