22 November 2016News

XL Catlin bolsters Accelerate team with new CEO

XL Catlin, the global brand of Bermuda-based XL Group, has appointed Vincent Branch as chief executive of its new innovation and insurtech team Accelerate.

Branch will report to Paul Brand, XL Catlin’s former chief underwriting officer for insurance.

Most recently, Branch was the chief underwriting officer and chief actuary for VitalityHealth (part of the Discovery group).

Prior to this role, Branch served as the global chief underwriting officer for personal lines at Zurich Insurance.

Accelerate complements other innovation focused activities at XL Catlin. In 2015, it announced the creation of XL Innovate, an XL Group sponsored venture capital initiative.

XL Innovate is financially backed by XL Group an invests in companies that have a strategic focus on developing new capabilities in the insurance sector.

Brand said: “We all know our industry is undergoing a huge amount of change. New technologies are impacting our client’s risk profiles both in terms of creating and eliminating risk; they are also altering distribution channels and buying trends. How the market responds is going to determine the future survival of our industry.

“We understand the huge opportunities that technology and innovation presents for re/insurers that are prepared to push the boundaries. Our investment in this team is a further demonstration of our commitment to doing just that. The team will work across the business, with the business. It is charged with harnessing our collective expertise to deliver new solutions and services which ultimately deliver value by giving rise to better outcomes for our clients.

“I am delighted that Vincent has joined the team. The stand out work he has done in the personal lines space looking at how the insurance industry approaches and leverages wearables, telematics and automation, positions him ideally for this role and greatly enhances our play.”