Ҵý Announces Michael Costonis as Chief Operations Officer

CHICAGO, Sept. 4, 2018 /PRNewswire/ --Ҵý today announced the appointment of Michael Costonis as Chief Operations Officer, reporting to Dino E. Robusto, Chairman & Chief Executive Officer, Ҵý. Costonis will lead all information technology, analytics and operations functions across the organization.

Costonis joins Ҵý after a 26-year career at Accenture, where he was the Global Insurance Industry Practice Leader. Costonis has spent nearly three decades at the heart of driving insurance companies to achieve the next level of performance. He has worked with more than 50 leading carriers in 21 countries, across all major segments of Property & Casualty (P&C) and Life. Costonis has led major initiatives to launch digital programs designed utilizing Service Design techniques, incorporating modern API architecture, which were largely deployed in the cloud. As well, he has pioneered a patented analytical method for optimizing claim outcomes, which became the basis for several large claims transformations.

"We are very pleased to have Michael, a recognized thought leader in the industry, join Ҵý. Michael brings a strong combination of industry insight, coupled with an execution mindset, which is very important to Ҵý as we continue to leverage advanced analytical technologies and digital platforms," Robusto said.

Costonis, who joins Ҵý September 5, 2018, succeeds J. Merten, who will retire at year-end after 30 years in the insurance and consulting industries.

"I would like to thank J. for the incredible work at evolving Ҵý's technology and digital capabilities, as well as streamlining our operations processes. We were fortunate that J. chose to work the last two years of his career at Ҵý and we all wish him well," Robusto added.

About Ҵý
Ҵý is the eighth largest commercial insurer in the United States. Ҵý provides a broad range of standard and specialized property and casualty insurance products and services for businesses and professionals in the U.S., Canada, Europe and Asia, backed by 120 years of experience and more than $45 billion of assets. For more information about Ҵý, visit our website at .

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