Liberty Mutual restructures leadership, Hippo deploys AI claims

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Liberty Mutual Insurance restructures leadership

Liberty Mutual Insurance announced a new leadership structure combining oversight of its Global Risk Solutions (GRS) and Liberty Mutual Investments (LMI) businesses, though the two units will not integrate operationally. Vlad Barbalat has been appointed president, global risk & capital solutions, while continuing as chief investment officer of Liberty Mutual Group, with strategic oversight for both GRS and LMI. The structure is effective immediately.

Matthew Moore will remain president of GRS, reporting to Barbalat. Adam Winn and Patrizio Urciuoli have been appointed co-presidents of LMI, also reporting to Barbalat. CEO Tim Sweeney said the changes aim to position the company to achieve its 2030 goal of becoming "the preeminent global insurance and capital solutions partner."

"What GRS and LMI share is fundamental — both underwrite risk and deploy capital into uncertainty. Together, they drive economic progress and enable our customers and business partners to build, grow and prosper," said Barbalat, in a press release.

Bestow appoints chief marketing officer

Bestow announced the appointment of Meagan Ward as its first chief marketing officer. The hire follows the company's $120 million Series D funding round led by Goldman Sachs and Smith Point Capital in 2025.

Ward brings over 15 years of marketing and communications experience in AI and SaaS sectors. She most recently served as CMO at Addepar, a wealth and asset management platform valued at over $3 billion, where she spent more than seven years scaling marketing and communications functions. Previously, she led communications at Qventus, an AI-powered hospital operations platform, and The Hatch Agency.

"As Bestow expands its platform and deepens partnerships with carriers, building a strong, recognizable brand is as important as the technology itself. Meagan has a proven track record of doing exactly that — establishing platforms like ours as the clear leaders in their markets," said Melbourne O'Banion, CEO and co-founder of Bestow, in a press release. In her role, Ward will oversee all marketing and communications for the life insurance and annuities platform.

Toyota Financial Services names new CEO

Toyota Financial Services (TFS) announced that Scott Cooke will retire as president and CEO effective June 30, 2026, after more than two decades with the company. Alec Hagey, currently TFS executive advisor, will assume the role of president and CEO effective April 6, 2026.

Cooke joined TFS in 2003 and held various leadership roles in risk, finance, treasury, and operations before becoming president and CEO. Hagey brings more than 36 years of experience with Toyota and previously served as senior vice president and chief operating officer, where he led sales and marketing for TFS and Lexus Financial Services. Cooke will remain as executive advisor supporting the Americas Oceania Region of Toyota Financial Services Corporation to ensure a smooth transition.

"Alec's deep experience and strong relationships across our organization make him the right leader to guide TFS into the future," said Mark Templin, chief operating officer of Toyota Motor North America, in a press release. 

Hippo deploys AI-driven claims system

Hippo Holdings announced the rollout of an AI-driven claims workflow centered on Clara from Claims, a 24/7 conversational AI agent that handles first notice of loss (FNOL) reporting. The company expects more than 70% of homeowners' claims to be filed digitally with the system, which captures claim data in real time, flags inconsistencies, and routes claims for faster resolution.

The San Jose, California-based insurer has embedded AI across the claims lifecycle, including triage, subrogation screening, fraud flagging, document review, and customer communications. Since deployment, initial contact with customers now occurs in under two hours on average. Based on internal modeling, Hippo expects its current staffing could support a 30-35% increase in claims volume without additional headcount.

"We've reimagined our claims operation from intake through resolution, moving from legacy systems to a unified platform that enables faster workflows, clearer communication, and more consistent outcomes for homeowners at scale," said Peter Piotrowski, chief claims officer at Hippo, in a press release. The company also uses aerial imagery and virtual inspections to enable remote estimating and faster payments.

Genpact partners with Parallel

Genpact announced a partnership with Parallel Web Systems to embed AI agents into insurance workflows to automate manual research in claims processing. Parallel, founded by former Twitter CEO Parag Agrawal, provides AI-native web research API technology that enables automated searches for real-time pricing and data validation needed to settle claims. 

Genpact's Property Contents Pricing AI Assist system uses Parallel's Task API to automate line-item pricing for like-kind-and-quality replacements in contents claims settlements, eliminating the need for adjusters to manually research item values or replacement costs.

"By combining Genpact's industry and domain expertise with Parallel's groundbreaking AI capabilities, we are poised to deliver exceptional value to clients," said Sanjeev Vohra, chief technology & innovation officer at Genpact, in a press release. 

NFP acquires Sherman Insurance Agency

NFP, an Aon company and property and casualty broker, announced the acquisition of Sherman Insurance Agency, Inc., a full-service agency specializing in trucking, commercial, personal and benefits insurance solutions. The South St. Paul, Minnesota-based firm will strengthen NFP's presence in the Upper Midwest and enhance its transportation and logistics practice.

As part of the transaction, Sherman leaders John Glieden, Kyle King and Peter Lobe will join NFP as senior vice presidents, and Jennifer Carter will join as vice president. All will report to Amanda Ruback, managing director of P&C for the Central region. 

"We're excited to welcome the Sherman team to NFP as we expand our risk management footprint across Minnesota and the Upper Midwest," said Mike Schneider, president of NFP's Central region, in a press release. "Sherman brings a well-established, multidisciplinary brokerage with deep expertise in trucking insurance."

Duck Creek Technologies launches reinsurance platform

Duck Creek Technologies announced the general availability of Duck Creek Reinsurance with Active Delivery. The cloud-based platform, built on AWS, delivers automated monthly product updates in the middle of each month and eliminates the need for traditional upgrade cycles. All updates are feature-flagged, allowing insurers to control activation timing, with customizations handled by the Duck Creek team.

The platform centralizes reinsurance contracts across treaties, facultative, assumed, and retrocession programs, providing real-time visibility of contracts, exposures, and recoverables. It aims to replace manual spreadsheet-based processes with automated workflows designed to reduce claims leakage, accelerate financial close, and improve cash flow.

"By eliminating upgrade cycles and enabling continuous delivery, insurers can respond faster to market changes, improve financial outcomes, and focus on optimizing risk strategies and driving growth, rather than maintaining legacy systems," said Celine Thierry, senior director of product management, reinsurance at Duck Creek Technologies, in a press release.

Progressive Insurance renews Mitchell contract

Mitchell, a provider of auto physical damage technology solutions, announced Progressive Insurance has signed a long-term contract renewal. The renewal gives Progressive continued access to Mitchell's software solutions for collision claims, damage appraisals, total loss valuations, and interactions with repair facility partners.

Progressive has used Mitchell as its primary auto physical damage technology provider since 2010. The company uses Mitchell WorkCenter and Mitchell Cloud Estimating for functions including assignment, damage appraisal, review, repair, and reporting. Progressive was the first insurer to implement Mitchell Cloud Estimating TruckMax, which enables use of a single platform for appraisals across passenger vehicles, motorcycles, and light, medium, and heavy-duty trucks.

This roundup was created with AI assistance. A Digital Insurance editor reviewed each item before publication.