Chubb hired an executive who will oversee its North America Claims operations. XL Catlin’s XL Innovate named a new principal who will help lead investments into novel areas. Catastrophe modeler RMS appointed a new chief financial officer, promoting from within.
Chubb appointed Megan Watt as executive vice president, Head of North America Claims.
In this role, she will lead Chubb North America claims management, service and administration for the commercial and personal insurance businesses. Watt will be based in Basking Ridge, N.J. and report to Michael Smith, Chubb’s Global Claims Officer. ‘
Ms. Watt has close to three decades of insurance experience and has served in a variety of leadership capacities. Before Chubb, Watt was head of Claims for Everest National Insurance Company, where she led a team of claims and operations professionals supporting multiple product lines.
XL Innovate, the InsurTech-focused venture capital arm of XL Catlin, named a new principal.
Specifically, the fund promoted Chris Downer from associate to principal. In his new role, Downer will help lead XL Innovate’s venture investments globally into new categories within InsurTech, including data and analytics, AI, and new insurance business models.
Since joining XL Innovate in 2016, Downer has focused on InsurTech investments in North America, Europe, and Asia, and led due diligence and deal sourcing for the fund. He has served as a board observer at Pillar Technologies, which sells an end-to-end environmental monitoring product for construction sites, and also Stonestep, which provides micro-insurance as a service in emerging markets. Downer contributes new ideas to the insurance technology industry, regularly speaking at conferences and on podcasts, dispensing the latest in InsurTech news via a daily newsletter, and writing articles on the future of the space.
Before joining XL Innovate, Downer worked in the alternative investments group at Goldman Sachs, in New York City and London.
RMS, a catastrophe modeling and analytics company, appointed Reed Birnbaum as chief financial officer.
This is a promotion for Birnbaum, who was previously senior vice president, Finance and Analytics at RMS.
As CFO, Birnbaum will report directly to Chief Executive Officer Karen White, and serve as a member of the company’s Executive Committee. Birnbaum will oversee the company’s financial management, including financial planning and reporting, accounting, tax, treasury, procurement and facilities functions. With his appointment, Birnbaum also joins the Board of Directors of RMS Japan.
Birnbaum is a 20-year finance industry veteran. Before joining RMS, he was vice president of Finance and Corporate Controller of Intermolecular, including through the company’s IPO in 2011. Before that, Birnbaum held positions in finance and accounting at Better Place, BigBand Networks, Cellon and Exodus. Birnbaum started his career in public accounting at KPMG LLP, where he earned his license as a certified public accountant.
Sources: XL Innovate/XL Catlin, RMS