QBE has made significant cuts to its IT department following the implementation of a new operating model.

The insurer has declined to reveal the exact number of jobs axed, but reports put the job losses at around 200, mostly from its Sydney offices.

In a statement, QBE says the job cuts follow a recent review of the IT function, which resulted in “a new operating model aimed at providing more effective and robust IT services for its staff and customers”.

“Unfortunately, this process has resulted in a number of IT roles being made redundant and QBE remains committed to redeploying staff where possible.”

The review follows the departure in May of QBE Australia’s EGM Strategy, Technology and Operations Pranav Pasricha.

The company is now in the process of recruiting a new CIO, who will report into Asia rather than locally, according to reports, prompting speculation that some of the IT jobs may be moved to QBE’s operations in the Philippines.

QBE declined to respond to the speculation when contacted by insuranceNEWS.com.au, but says the company “maintains a significant IT presence in Australia, with over 400 IT staff employed across the country”.