Chubb has merged its lower middle market and digital small business divisions in North America to form a single unit called North America small and lower midmarket.
New Division Combines Expertise
The newly formed division will integrate the underwriting expertise of the lower middle market with the capabilities of the digital small business division. The unit will offer a comprehensive suite of products and services, including property and casualty, financial lines, cyber, and multinational offerings.
Juan Luis Ortega, Executive Vice President of Chubb Group and President of Chubb North America, highlighted the growth potential in these market segments. “The small business and lower middle market segments provide growth opportunities for the company,” he said.
Leadership Appointments
Chubb has appointed Rob Poliseno as the 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 brings 28 years of experience in the insurance industry, including nearly 17 years at Chubb. His previous role was division president of small business and North America digital. Ranucci has 17 years of insurance experience, including serving as head of North America lower middle market and as global chief underwriting officer for small business. In his new role, Ranucci will oversee operations, including profit and loss management, field and home office underwriting, product development, pricing, portfolio management, and analytics.
Rockwell emphasized the importance of the new division. “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.”
Expansion Initiatives
The company is also moving forward with major expansion plans. Chubb recently awarded a $94 million contract to Turner Construction Company for the interior fit-out of its new headquarters in Philadelphia. This expansion is part of a broader commitment to Pennsylvania, where the company plans to add at least 1,250 jobs and is committed to preserving 3,200 existing jobs over the next five years.
