(Zurich, location of Chubb headquarters. Photo credit: MadGeographer.)
Chubb Limited (Zurich) has appointed Michael W. Smith Chief Claims Officer. In this role, Mr. Smith will lead the company’s claims organization globally and be responsible for all aspects of executive claims management, service and administration for Chubb through its worldwide network of claims offices, according to a Chubb statement. Smith will report to Paul Krump, Executive VP of Chubb Group and President, North America Commercial and Personal Insurance. The appointment is effective immediately.
A 30-year veteran of the insurance industry, Smith arrives at Chubb from AIG, where he held a variety of leadership roles between 2000 and 2017, most recently Chief Transformation Officer. Smith
Frank Lattal, the company’s Chief Claims Officer since 2003, will continue to serve as Senior VP, Chubb Group and will be responsible for managing the company’s largest and most complex claims globally. He also will provide strategic leadership and management oversight to Chubb’s Brandywine run-off operations. Lattal will report to Mr. Smith.
“Chubb’s claims capabilities are a core and defining strength of this company, and we are pleased to welcome Mike to our leadership team,” comments Evan G. Greenberg, Chairman and Chief Executive Officer. “Mike brings deep experience in both executive claims management and running significant insurance businesses. He’s a strong, hands-on leader with proven success managing and executing change across large, global organizations.
“I also want to recognize the significant contributions Frank has made to Chubb’s claims organization since he joined the company 20 years ago,” Greenberg adds. “His exceptional technical skills and claims adjudication expertise will be a strong asset in his new role handling the company’s most complex and challenging claims.”
“Mike has the breadth and depth of expertise in claims, operations and transformational management to help Chubb optimize a claims organization for the digital age,” comments Krump. “I’m also excited about Frank taking on this new role, which is a terrific use of his proven abilities. I have great confidence in both Mike and Frank, who together share Chubb’s steadfast commitment to delivering exceptional claims service and settling claims fairly and promptly.”
During his 17 years at AIG, Smith served as Chief Transformation Officer; Chief Operating Officer, Global Commercial Insurance; President, Global Financial Lines; President, U.S. Financial Lines; President, Financial Lines Claims; President, Miscellaneous Professional Liability; and Chief Underwriting Officer, Miscellaneous Professional Liability. Prior to AIG, he served in executive management roles at XL American Insurance and Zurich US Specialties. Earlier in his career, he served as an attorney at several companies and firms.
Smith has a Bachelor of Arts degree in Accounting from the College of Business at the University of West Florida and a Juris Doctor degree from Fredric G. Levin College of Law at the University of Florida. He is a trustee of the University of Florida College of Law and a trustee of the Harlem Educational Assistance Fund (HEAF).