QBE’s Australian and New Zealand Operations division will bring its technology and transformation teams together within what’s to be called a “chief operations office” and will also create a new strategy team.

Steve Raynor will act as interim Chief Operations Officer, effective today, while a search is conducted for the expanded role, and a new chief information officer will move into the team.

Current CIO Tony Forward has accepted a redundancy and Val Matthews has been appointed in an acting capacity from March 29 while a recruitment process is conducted for the redefined position.

Australia and New Zealand Operations CEO Vivek Bhatia, who joined QBE at the start of last month, says the new arrangement brings the division into line with other parts of the group.

“Given technology’s intrinsic role in delivering on our business transformation, it also makes sense to have these functions aligned under the one business unit to drive greater focus and efficiencies,” Mr Bhatia said.

A dedicated strategy team to develop the longer-term vision will be established, reporting to division CFO Inder Singh, with a new GM to be appointed.

Mr Bhatia says the company has made greater progress around insurtech, establishing QBE Ventures globally and locally becoming a founding partner of Insurtech Australia and working with start-ups.

“The GM Strategy role will help drive that agenda in this market, as well as align with global counterparts to ensure we leverage our global footprint and expertise,” he said.

New Zealand will be repositioned as a separate business unit, with GM Bill Donavan reporting to Mr Singh.