McHugh told Insurance Business what motivates him as he takes on his new role.
“I have a deep affinity and genuine passion for being there when people need us the most,” he said, referring to his track record running personal injury, life and travel insurance portfolios over the last 20 years.
“To be able to lead a business whose DNA is being there for people in times of need is a great privilege,” he said, a response that would have been equally appropriate if he was back with the police force.
At Suncorp, McHugh led the combined operations of workers’ compensation, compulsory third party insurance (CTP) and travel insurance.
The new CEO played a part in government reforms of workers’ compensation schemes. In a paper looking at the impact of privatising personal injury insurance schemes he argued that governments should regulate personal injury insurance schemes but leave the rest to the market, “to increase productivity and maximise value for the community.”
Now, he believes his new role with Allianz Partners is fundamentally one of leadership.
“Specifically, leading the strategic development of the organisation as it navigates the transition through a challenging period for many organisations impacted by the constraints of COVID-19 toward a post COVID environment, ensuring the organisation is well placed to respond and adapt to the opportunities that will present themselves to our business,” he said.
He also wants to increase the level of integration between Allianz Partners’ Australian business and the global Allianz organization.
McHugh said this was about, “ensuring we capitalise on the global scale and capabilities of our organisation that are cost effective and fit for purpose for the Australian market.”
He also aims to ensure Allianz Partners embodies, “the highest levels of customer centricity and technical excellence.”
One obstacle to the new CEO’s plans, however, could be rising costs.
Yet McHugh said his main challenge is the ongoing impact of COVID-19 on the markets Allianz Partners operates in.
“Assisting the team and broader business to navigate this period in a way that ensures we are highly adaptive to our volatile environment, as well as ensuring we are best placed to capitalise on opportunities as they arise in the transition out of COVID-19 is critical,” he explained.
A key focus, he said, will be managing the delicate balance of the business’s immediate and strategic needs. He hopes to re-establish the overseas student health market, for example, as quickly as possible.
“I think there is opportunity, at the right time, for all stakeholders in this sector to align and support the safe and durable re-entry of students into Australia. We have a role to play in advocating for and supporting this process with industry stakeholders, universities and students to re-establish this critical market as quickly and sustainably as possible,” he said.
McHugh also pledged Allianz Partners’ support for the United Nation’s Sustainable Development Goals as part of his company’s new relationship with the World Trade Organisation (WTO).
McHugh replaces acting CEO, Miranda Fennell, who returns to her role as Allianz Partners’ chief risk and compliance officer for the Australian region.
