Chubb’s former SVP and Deputy CRO, Frances O’Brien has been promoted to the position of Executive Vice President and Chief Risk Officer (CRO) at P&C insurer Chubb, effective April 1, 2023.
O’Brien has been serving as Senior Vice President and Deputy CRO since January 2022, and in her new role, she will be responsible for Chubb’s enterprise risk management organization and the implementation of the firm’s enterprise risk strategies and processes.
With over four decades of experience in the insurance industry, O’Brien previously held senior positions at Chubb, including Division President and Senior Vice President, CRO of Chubb Corporation.
Chubb promotes CRO to new Chief Digital Business Officer
In the meantime, Sean Ringsted, the current CRO of Chubb, will take on a new role as Chief Digital Business Officer. Ringsted, who has over 30 years of experience in the insurance industry, will lead the expansion of the company’s digital business unit globally and oversee the use of data and analytics to inform decision-making across the firm.
Both O’Brien and Ringsted will report to Evan Greenberg and John Keogh, President and Chief Operating Officer of Chubb.
Greenberg said, “Fran is a seasoned executive with extensive underwriting, risk, actuarial and management experience.
“She has a long track record of success and I have every confidence in her ability to lead this important aspect of our company. Managing our own risk exposures well is foundational for a company in the risk business.”
He continued, “This change in executive leadership responsibilities recognizes the significant opportunity we have to harness our resources and deploy cutting-edge technologies, including machine learning, artificial intelligence and large-scale data, to deliver business value and strategic advantage to Chubb’s businesses.
Greenberg added: “Under Sean’s leadership, we will also continue to expand Chubb’s digital product and service offerings.”
Chubb is expanding its global offerings
As a global insurance company, Chubb offers a wide range of products and services, including property and casualty insurance, life insurance, accident and health insurance, reinsurance, and specialty insurance. The company was founded in 1882 and is headquartered in Zurich, Switzerland, with operations in more than 50 countries and territories worldwide.
Th industry leader provides insurance coverage for individuals, small businesses, and multinational corporations across a variety of industries, including aerospace, construction, energy, financial institutions, healthcare, hospitality, real estate, and technology. The company’s products and services are designed to help clients protect their assets and manage risk in an increasingly complex and uncertain world.
In addition to its insurance offerings, Chubb is known for its strong commitment to corporate social responsibility and sustainability. The company has established a number of initiatives aimed at promoting environmental stewardship, supporting local communities, and promoting diversity, equity, and inclusion within its own workforce and in the broader business community.
Chubb strengthens its commitment to ESG
Chubb has been actively expanding its insurance offerings and partnerships, as well as strengthening its commitment to sustainability and social responsibility. Here are a few highlights:
- In January 2022, Chubb announced that it had entered into a strategic partnership with Doma, a leading force in the digitisation of the residential real estate and mortgage industries, to offer streamlined insurance solutions to homeowners across the United States.
- In October 2021, Chubb announced that it had expanded its parametric insurance offerings to include new products designed to help businesses and individuals manage the financial impact of climate-related events, such as wildfires and droughts.
- In September 2021, Chubb announced that it had established a new Environmental, Social, and Governance (ESG) Advisory Council, comprised of leading experts from academia, non-governmental organisations, and industry, to help guide the company’s sustainability and social responsibility initiatives.
- In August 2021, Chubb announced that it had achieved carbon neutrality for its global operations, and had committed to reducing its operational emissions by 30% by 2025
