Paul J. Krump, Vice Chairman, Chubb Group
Global Underwriting and Claims
Paul J. Krump is Vice Chairman, Chubb Group, Global Underwriting and Claims. In this role, Mr. Krump oversees high-level underwriting policy and standards-setting, and provides operational direction and oversight in underwriting execution across Chubb's property and casualty (P&C) insurance product lines, which include commercial P&C, personal lines and accident and health insurance globally. In partnership with the presidents of the company's North American and international P&C operations, he shares accountability for underwriting standards and the profitability of the P&C books of business. Reporting to Mr. Krump are global and corporate underwriting functions, as well as underwriting and product line managers on a matrix basis for underwriting. He supervises global product boards, portfolio management processes and underwriting audits.
Mr. Krump also has senior executive responsibility for global claims and risk engineering for the company. In this role, he oversees strategy, policy, delivery standards and overall execution excellence for two core capabilities that contribute significantly to the company's reputation: the Chubb claims organization and the team of more than 400 commercial risk engineers who help companies minimize potential costly exposures with loss mitigation services.
Mr. Krump has more than 35 years of insurance industry experience. Prior to his current role, he served as Executive Vice President, Chubb Group and President, North America Commercial and Personal Insurance. Prior to ACE’s January 2016 acquisition of Chubb, Mr. Krump was Chief Operating Officer of The Chubb Corporation, where he was responsible for the company’s Commercial, Specialty, Personal and Accident & Health insurance lines; Claims; Global Field Operations; Information Technology; Human Resources; Communications; and External Affairs. He joined the predecessor Chubb company in 1982 as a commercial underwriting trainee in the Minneapolis office, and has held numerous headquarters and field positions in the United States and Europe.
Mr. Krump holds a Bachelor of Arts degree in Business Administration from Saint John's University in Collegeville, Minn. He also has attended executive management programs at IMD in Lausanne, Switzerland; the Kellogg School of Management at Northwestern University in Evanston, Ill; and the U.S. Army War College/Columbia Business School. He currently serves on the executive committee of The Council of Insurance Company Executives and on the Board of Trustees of The Institutes, the leading professional development and research organization for risk management and insurance.