(Michael Costonis, Chief Operations Officer, CNA. Image source: Accenture.)
CNA (Chicago) has announced the appointment of Michael Costonis as Chief Operations Officer, reporting to Dino E. Robusto, Chairman & Chief Executive Officer, CNA. Costonis will lead all of CNA’s information technology, analytics and operations functions across the organization.
Costonis is well known to the insurance technology community for his most recent role as Global Insurance Industry Practice Leader at Accenture, where he spent 26 years. He has worked with more than 50 leading carriers in 21 countries, across all major segments of the property/casualty and life insurance industries. Costonis has led major initiatives to launch digital programs utilizing Service Design techniques, incorporating modern API architecture, largely deployed in the cloud. He also has pioneered a patented analytical method for optimizing claim outcomes, which became the basis for several large claims transformations.
“We are very pleased to have Michael, a recognized thought leader in the industry, join CNA. Michael brings a strong combination of industry insight, coupled with an execution mindset, which is very important to CNA as we continue to leverage advanced analytical technologies and digital platforms,” comments Robusto.
Costonis, whose appointment is effective September 5, 2018, succeeds J. Merten, who will retire at year-end after 30 years in the insurance and consulting industries.
“I would like to thank J. for the incredible work at evolving CAN’s technology and digital capabilities, as well as streamlining our operations processes,” Robusto adds. “We were fortunate that J. chose to work the last two years of his career at CNA and we all wish him well.”