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June 30, 2016 at 09:40 AM
(Bloomberg) — American International Group Inc., the largest commercial insurer in the U.S. and Canada, named Michael Lewis chief digital officer as the company turns to technology to simplify operations and gain an edge against smaller rivals.
Related: The power of technology in insurance
Lewis, 51, joins from JPMorgan Chase & Co., where he was most recently global chief technology officer for digital at the consumer businesses, the New York-based insurer said Thursday in a statement. He will report to Chief Information Officer Philip Fasano and replaces Rahul Samant, who left to become chief information officer of Delta Air Lines Inc.
Chief Executive Officer Peter Hancock is working to better integrate operations at a company that was built through decades of acquisitions and then abruptly shrunk through asset sales that were required to help repay a 2008 bailout. The company hired Fasano in 2014 from Kaiser Permanente and then added Michael Brady the next year to the new post of chief technology officer.
“Improved digital capabilities will create a global competitive advantage,” Fasano said in the statement. “Michael’s proven record of success in developing and executing visionary digital transformation strategies will provide a strong foundation for the overall digital landscape we are working toward.”
Customers, Employees
AIG’s business provides access to huge amounts of data on the frequency of natural disasters, industrial mishaps and auto accidents. The company is hoping to better use that information to price policies and decide which risks to pursue. Lewis will also work on “enhancing the customer and employee experience,” AIG said.
At JPMorgan, Lewis worked on applications such as Chase Pay for handheld devices and helped integrate the bank’s cards with Apple Inc.’s mobile wallet, according to the statement. He previously had senior technology roles at Lloyds Banking Group Plc and Bank of America Corp. Trish Wexler, a JPMorgan spokeswoman, didn’t immediately respond to a request for comment.
