24/07/2012

Mark Stergio Named CEO of Risk Sciences Group®

Business and technology executive Mark Stergio has been named chief executive officer and senior vice president of Risk Sciences Group (RSG), a leading provider of risk management information systems (RMIS).

Stergio will be responsible for continuing the development of a long-term strategy for RSG that focuses on innovative technology, effective analytics and easy-to-use applications that help clients control their overall cost of risk. He has served as chief information officer for Broadspire®, a leading third party administrator of workers compensation claims, liability claims and medical management services, for the past five years.

"Mark and his group have accomplished a number of key technology initiatives, most notably the implementation of a new claims system, during his tenure at Broadspire," said Danielle Lisenbey, chief executive officer of Broadspire. "I am looking forward to his contributions to RSG as we seek to further the development of our RMIS products and strengthen our position in the market." Stergio reports to Lisenbey and continues as a member of her senior leadership team.

Broadspire and RSG are both business units of Crawford & Company (NYSE: CRDA; CRDB), the world's largest independent provider of claims management solutions. As a RMIS provider for both the TPA's clients and standalone clients, RSG reports to Broadspire.

In his role at RSG, Stergio will draw upon a rare skill set that combines 30 years of both business and technology leadership in the insurance and financial services industries. He served in a variety of roles in information and business technology for units of the Hartford Financial Services Group, including leadership of the Hartford's RMIS unit, for which he was responsible for financial results and product development.

He also held the position of chief information officer of claims and spent 10 years in actuarial research at the Hartford, with responsibility for premium and dividend reserving as well as national account profitability analysis. Before coming to Broadspire in 2007, he was vice president of the Hanover Technology group, where he managed technology development for the Hanover Insurance Group. He has earned the CPCU® designation from the Chartered Property Casualty Underwriter Society. 

At the same time, Brenda Rarick, former managing director of RSG, has been named senior vice president of strategic planning and performance development, reporting to Vince Cole, Crawford's executive vice president of strategy and performance development.

In her new position, she will bring her significant executive and strategic management skills to bear in overseeing key initiatives designed to increase revenues, develop new products and evaluate potential mergers and acquisitions for both Crawford and Broadspire.

Since becoming managing director at RSG in 2010, Rarick has been instrumental in developing and introducing the organization's newest RMIS product, the Dmitri Suite®, to the risk management market, and improving the overall quality and efficiency of RSG's products. "Dmitri is gaining momentum in the market and RSG is well-positioned for growth, thanks to Brenda's leadership and her talented team of RMIS professionals," Lisenbey said.

Prior to joining RSG, Rarick served in a variety of management and executive roles at Broadspire for 15 years. Her work focused on strategic planning, organizational development, process improvement and change management at both the global and corporate level.