Deloitte has announced the appointment of Karl Hersch as leader of its US insurance sector, a strategic focus area within the audit, consulting and tax advisory firm’s financial services industry practice. Hersch will succeed Gary Shaw in the role. Shaw will continue to focus on the organization’s largest and most strategic accounts.
In his new role, Hersch will oversee more than 3,000 practitioners providing a spectrum of services to organizations across the insurance industry. Hersch, a principal with Deloitte Consulting, will lead the overall insurance sector strategy.
Hersch has 30 years of experience and has held numerous leadership roles. Prior to taking his new role, he served as US insurance consulting practice leader. He has been Deloitte’s insurance finance transformation practice leader and financial services industry enterprise performance practice leader.
“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,” Shaw said.
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“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,” Hersch said. “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.”
“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 at Deloitte. “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.”