Chubb has formed a new division within its North America middle market organization, combining its lower middle market and digital small business divisions into a single unit, called North America small and lower midmarket.
The new division integrates underwriting experience from the lower middle market with the digital small business division. It will offer a range of products and services, including property and casualty, financial lines, cyber and multinational.
Juan Luis Ortega, executive vice president of Chubb Group and president of Chubb North America, said the small business and lower middle market segments provide growth opportunities for the company.
Rob Poliseno has been appointed division president, reporting to Ben Rockwell, division president of Chubb North America middle market. Jason Ranucci has been named chief operating officer and will report to Poliseno. Both appointments are effective immediately.
Poliseno, who has worked in the insurance industry for 28 years, including nearly 17 years at Chubb, previously served as division president of small business and North America digital. His experience in underwriting and distribution supports his leadership of the new division.
Meanwhile, Ranucci has 17 years of experience in insurance and previously served as head of North America lower middle market and as global chief underwriting officer for small business. He will oversee operations, including profit and loss management, field and home office underwriting, product development, pricing, portfolio management and analytics.
“Launching this division represents an important milestone in how we serve the small and lower middle market business segment,” Rockwell said. “Rob and Jason will build on their successes in this space, leveraging our investments in a modern, automated and data-centric digital operating model that differentiates our approach.”
The company continues to expand its operations. In February, the company awarded a $94 million contract to Turner Construction Company for the interior fit-out of its new headquarters in Philadelphia.
The new headquarters is part of the company’s expansion in Pennsylvania, where the company said it plans to add at least 1,250 jobs and has committed to preserving 3,200 jobs in the state over the next five years.
