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QBE Insurance has announced the alignment of its technology and transformation teams under one business unit within its Australian and New Zealand operations (ANZO), as well as the creation of a new strategy team.
The new chief operations officer will have end-to-end responsibilities for QBE ANZO's technology and transformation; and will be headed by Steve Raynor as interim chief operations officer. An internal and external search is being made for the expanded COO role.
The new team will also be joined by a new chief information officer– a move that has led to current CIO Tony Forward accepting a redundancy and Val Matthews taking up an acting capacity. An internal and external recruitment process is also being conducted for the redefined role.
“Given technology’s intrinsic role in delivering on our business transformation, it also makes sense to have these functions aligned under the one business unit to drive greater focus and efficiencies,” CEO Vivek Bhatia said.
Meanwhile, a new strategy team will also be set up to develop the firm's longer-term vision, with the responsibility to focus the organisation's energy into becoming more innovative and customer-centred. The team will report to the chief financial office led by Inder Singh.
“We’ve already made great progress on the insurtech front, with the establishment of QBE Ventures globally, while locally, we’re a founding partner of Insurtech Australia and recently joined Stone and Chalk’s inaugural Insurtech Program, working with startups to solve specific customer needs,” Bhatia said. “The general manager, strategy role will help drive that agenda in this market, as well as align with global counterparts to ensure we leverage our global footprint and expertise.”
To further streamline the operating model, New Zealand will be repositioned as a separate business unit, with Bill Donovan taking up the role as general manager for New Zealand. In this role, Donovan will take overall responsibility for the operations of the business, while working closely with relevant leaders in Australia. Donavan will report to Singh.
