Karl Hersch has been named leader of Deloitte’s US insurance sector, which is a strategic focus area within the audit, consulting, and tax advising firm’s financial services industry business. Gary Shaw will be replaced by Hersch in the role. Shaw will continue to concentrate on the company’s most important and strategic accounts.
In his new position, Hersch will be in charge of approximately 3,000 practitioners who provide a wide range of services to insurance companies. Hersch, a Deloitte Consulting principal, will be in charge of the overall insurance sector strategy.
Hersch has more than 30 years of expertise and has held a variety of leadership positions. Prior to his new position, he was the head of the US insurance consulting practise. He was the insurance finance transformation practise leader and financial services leader at Deloitte.
“I’ve known Karl for 25 years, and I’m convinced that his commitment to serving our clients and developing our team will strengthen our ability to address our customers’ most pressing concerns in this ever-changing climate,” Shaw said.
“Our insurance sector has had incredible success,” Hersch said. “I am happy to head such a talented group of professionals who continue to bring deep experience and significant solutions for our clients.” “By providing market insights and purpose-driven transformation to help our clients prosper, we’re prepared to continue growing our business.” We will continue to influence the insurance business by bringing the best of Deloitte’s expertise to bear as technology and other sectors converge to define the future of insurance.
“Karl is an experienced leader who will bring his expertise of the insurance business, great client relationships, and powerful leadership to the post,” said Monica O’Reilly, Deloitte’s vice chair and US financial services market leader. “His ability to bring the organization’s breadth and depth to bear will continue to help Deloitte prosper in the marketplace and deliver long-term value to our clients.”