Insurance Information Institute names Patrick Schmid chief insurance officer

The Insurance Information Institute has announced that Patrick Schmid will assume the role of chief insurance officer on July 11, 2025. Schmid will also lead the Catastrophe Resiliency Council and the Insurance Research Council, taking over from Dale Porfilio.

According to the Institute, Schmid's appointment follows Porfilio's four-year tenure. Porfilio is leaving to explore new opportunities. Triple-I CEO Sean Kevelighan praised Porfilio for his leadership, highlighting his contributions to major initiatives and enhancing the organization's value to its members and the broader insurance industry. The transition is part of a strong succession plan aimed at fostering ongoing innovation in insurance research and communication.

The Institute reports that Schmid will continue as president of The Institutes’ RiskStream Collaborative while leading both councils. He will report to Kevelighan for his new roles and to Pete Miller, president and CEO of The Institutes, for his RiskStream responsibilities. This organizational structure is intended to promote cross-functional collaboration and support industry-wide initiatives in catastrophe resilience, research, and innovation.

According to Triple-I’s official press release, Schmid holds a master's degree and a Ph.D. in economics from Temple University. He has been with The Institutes for 17 years in various leadership and research roles. His experience includes positions such as vice president of RiskStream Collaborative, assistant vice president of enterprise research, and director of research at the Insurance Research Council. Additionally, he has taught at several Philadelphia-area universities, including the Wharton School, and worked as an economist for Moody’s Analytics before joining The Institutes.

As said on its official website, the Insurance Information Institute (Triple-I) is an affiliate of The Institutes dedicated to improving public understanding of insurance through education, research, and industry outreach. Triple-I provides authoritative analysis and data aimed at informing consumers, policymakers, media, and insurance professionals about key industry trends and emerging risks. It is recognized for its expertise in catastrophe resilience, insurance economics, and strategic communication.