(Kyle Schmitt,Managing Director, Global Insurance Practice, J.D. Power. Image source: J.D. Power.)
Kyle Schmitt, an insurance business strategist, has joined J.D. Power as Managing Director of the firm’s Global Insurance Practice. Schmitt will report directly to Keith Webster, Senior Vice President and General Manager, Global Financial and Service Industry Division.
J.D. Power reports that Schmitt will lead the growth strategy for the Global Insurance Practice supervising a team of practice leaders and working closely with the unit’s sales, marketing, analytics and research groups. The firm characterizes the appointment as supporting carrier’s needs as the insurance industry continues to face challenges from emerging technologies and in delivering outstanding service to their customers. “Schmitt and his team at J.D. Power are well equipped to provide insights and advice that will drive performance improvements for our clients and for the industry at large,” says a J.D. Power statement announcing the appointment.
“J.D. Power is extremely pleased to add such a forward thinking, prominent member of the insurance industry to our leadership team,” comments Webster. “Schmitt’s previous work experience gives him the unique global and corporate view of insurance that will be extremely beneficial for us as well as our clients.”
Roles at State Farm and Barclay’s M&A Division
Schmitt was most recently a Director leading Business Strategy within key operating units at State Farm Insurance Companies (Bloomington, Ill.). He has spent his career focusing on growth, market strategy and corporate finance solutions, according to J.D. Power. While at State Farm, he led several growth and performance improvement initiatives within the life insurance and P&C claims business units. Prior to State Farm, Schmitt was VP of Investment Banking in the insurance M&A division at Barclays in London where he advised global executives and boards on market strategy, deal structuring, risk management and valuation optimization.