Deloitte has named Karl Hersch as the leader of the firm’s US insurance sector.
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 will succeed Gary Shaw, who will continue to focus on the organisation’s largest and most strategic accounts. During his tenure, Shaw oversaw the exponential growth of the US insurance practice, while also serving as the lead client service partner for a major global insurance company.
Shaw said: “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.”
Hersch has worked as the US insurance consulting practice leader since 2019. He 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.
Monica O’Reilly, vice chair and US financial services industry leader for Deloitte LLP, said: “Karl is a seasoned leader who will bring his knowledge of the insurance industry, strong relationships with clients, and impactful leadership to the role. 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.”