The firm’s new center of excellence will reduce the frictional costs of trading, improve risk management, and create cost-savings for clients, among other benefits.
“We recognize our clients have fully embraced digitally-augmented user experiences,” said McGriff Chief Executive Officer Rick Ulmer. “This new unit will fully meet that demand. We expect it to transform our firm, greatly benefit our client base, and make a significant contribution to the industry as a whole.”
The primary objectives for McGriff’s new Digital, Data & Analytics center of excellence are:
- Digitalization and enhancement of the client experience
- Data and analytic solution development
- Creation of new sources of value to expand the marketplace
- Collaboration and investment with insurtechs
- Delivery of effective and affordable risk solutions to small businesses and low-income households
Alan Renfroe, the firm’s first Digital Strategy Officer, will lead the new unit. He previously led the development of the firm’s business intelligence platform, McGriff Analytics Platform®.
“Our mission is the digital transformation of McGriff, from enhancing our clients’ experience to creating and delivering new products and solutions for our diverse group of clients,” Renfroe said. “To be successful in this, it is critical that we are collaborative with our resources and nimble as we operate across all of our business units.”
The unveiling of the new center of excellence is the next chapter of an internal restructuring and rebranding effort at McGriff that began in 2020 called “One McGriff.” The initiative included new appointments and updates to regional leadership teams, a consolidation of McGriff Insurance Services and McGriff, Seibels & Williams into a single McGriff brand, and a significant investment in digital technologies.
About McGriff
A subsidiary of Truist Insurance Holdings, McGriff is a full-service insurance broker providing risk management and insurance solutions to clients across the United States. The firm’s coverages include commercial property and casualty, corporate bonding and surety services, cyber, management liability, captives and alternative risk transfer programs, small business, employee benefits, title insurance, personal lines, and life and health.
About Truist Insurance Holdings
Truist Insurance Holdings, Inc., the sixth largest insurance broker in the U.S., is a wholly-owned subsidiary of Truist Bank. Truist Insurance Holdings operates more than 250 offices through its subsidiaries: McGriff Insurance Services, Inc.; CRC Insurance Services, Inc.; Crump Life Insurance Services, Inc.; AmRisc, LLC; and its Premium Finance companies (AFCO Credit Corporation, Prime Rate Premium Finance Corporation, Inc., and CAFO Inc.).