American International Group under new CEO Brian Duperreault is moving quickly to pursue next-generation technology. The insurer has formally disclosed plans to name Hamilton USA CEO Seraina Macia as an executive vice president and leader of a new planned subsidiary that will focus on technological transformation of the insurer’s commercial insurance business.
Both Duperreault and Macia are former AIG executives. She became CEO of Hamilton USA in October 2016.
Duperreault, most recently CEO of Hamilton Insurance Group, joined AIG in May. As part of that deal, AIG announced plans to acquire Hamilton USA, with a bid of boosting the insurer’s use of emerging technology and data science to modernize and transform its underwriting and claims practices. At the time, a spokesperson confirmed to Carrier Management that Macia would stay CEO of the unit and report to Brian Duperreault once the $110 million deal closed, as she had done at Hamilton Insurance Group.
What’s new now is AIG has formalized Macia’s role with AIG.
The deal to acquire Hamilton USA is expected to be complete in the 2017 fourth quarter. Once this happens, Macia will still lead the newly acquired platform, according to the AIG announcement. Additionally, Macia will also be a key executive involved in what AIG said will be the “accelerated development” of Attune, a data- and technology-driven joint venture formed in 2016 by AIG, Hamilton and Two Sigma Investments. Attune focuses on small and medium-sized businesses with a strategy of development technology tools designed to help brokers and agents in the U.S. do their jobs better and quicker.
Duperreault said that Macia’s “perspective will be a valuable one to have on our leadership team.”
Macia “brings to AIG a rare combination of deep insurance expertise and an acute understanding of the role that technology and data analytics are playing in the ongoing evolution of our industry,” Duperreault said in prepared remarks.”
Macia, also in prepared remarks, said she is “looking forward to building on the progress we made at Hamilton USA in bringing technology and data analytics to risk selection, pricing and claims-handling processes.”
She said AIG’s purchase of Hamilton’s U.S. platform leaves it “poised to transform how our industry operates in a digital world and how we meet the needs of our clients.”
Before her stint running Hamilton USA, Macia held executive positions at AIG, including CEO and executive vice president of Regional Management and Operations. As well, Macia served as CEO and president of AIG’s EMEA region, during which she was responsible for business in 47 countries in Europe, the Middle East and Afrida.
Additionally, Macia has held executive level positions at other insurers including: CEO of XL Insurance North America, president of Zurich North America Commercial Specialties business, and head of investor relations and rating agency management at Zurich Insurance Group.
As well, Macia held various underwriting and finance leadership roles at Swiss Re in Switzerland.
Earlier this month, AIG appointed Marsh CEO Peter Zaffino as executive vice president and global chief operating officer. Zaffino worked closely with Duperreault at Marsh parent Marsh & McLennin Cos. when Duperreault ran the operation from 2008 through 2012.