Karl Hersch Named Leader of Deloitte's US Insurance Sector

NEW YORK, March 28, 2022 /PRNewswire/ -- Deloitte announced today that Karl Hersch has been named the leader of its U.S. insurance sector, a strategic focus area within the organization's financial services industry practice.

In this role, Hersch will oversee more than 3,200 practitioners providing a broad range of services to organizations across the insurance industry. Hersch, a principal with Deloitte Consulting LLP, will be responsible for leading the overall insurance sector strategy, bringing practice areas together to serve Deloitte's portfolio of insurance clients.

Hersch has 30 years of experience and has held numerous leadership roles, serving as the U.S. insurance consulting practice leader since 2019. Hersch has served many of the Deloitte's largest financial services clients, and he was the insurance finance transformation practice leader as well as the financial services industry enterprise performance practice leader. He has served insurance clients in the U.S. and globally, focusing on differentiating Deloitte in the market and delivering value to clients. Hersch will succeed Gary Shaw, who will continue to focus on the organization's largest and most strategic accounts. During his tenure, Shaw oversaw the exponential growth of the U.S. insurance practice, while also serving as the lead client service partner for a major global insurance company.

"I have known Karl for 25 years and am confident that his dedication to serving our clients and developing our team will enhance our capabilities to solve our clients' most important challenges in this continually evolving environment," said Shaw.

Hersch added, "Our insurance sector has seen tremendous success, and I am thrilled to lead such a talented group of professionals that continues to deliver deep experience and impactful solutions for our clients. We are poised to continue growing our business by delivering insights on the future of the industry and purpose-driven change to help our clients thrive. As technology and other sectors are converging to shape the future of insurance, we will continue to help influence the insurance industry by bringing the best of Deloitte to help clients navigate and solve the most complex and critical issues facing their businesses."

Deloitte's insurance group brings together specialists from actuarial, risk, strategy, operations, technology, tax and audit. These skill sets, combined with deep industry knowledge, allow Deloitte to provide a breadth of services to clients in the life and annuity insurance, property and casualty insurance, reinsurance, group insurance, and brokerage segments.

"Karl is a seasoned leader who will bring his knowledge of the insurance industry, strong relationships with clients, and impactful leadership to the role," said Monica O'Reilly, vice chair and US. financial services industry leader for Deloitte LLP. "His ability to bring the breadth and depth of the organization will continue to help Deloitte thrive in the marketplace and deliver lasting value for our clients."

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 345,000 people worldwide connect for impact at www.deloitte.com.

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SOURCE Deloitte