Nationwide’s Centennial Upgrade: Michael Carrel Steps Up to Lead a $1.5B Tech Revolution as the Latest CTO

It isn’t every day that a company celebrates its 100th birthday, and it certainly isn’t every day that they mark the occasion with a $1.5 billion investment in the future. As Nationwide enters its centennial year in 2026, the insurance and financial services giant is proving that you’re never too old to innovate.
To lead this massive technological charge, Nationwide has appointed Michael Carrel as its new Chief Technology Officer. Succeeding Jim Fowler—who is transitioning to a new role at Lumen Technologies—Carrel is stepping into the driver’s seat at a pivotal moment. With a mandate to accelerate technology and AI innovation through 2028, his leadership will define what it means to be “On Your Side” in the digital age.

The Internal Expert: Three Decades of Innovation
In an era where companies often look outside for “disruptive” talent, Nationwide found its best leader within its own walls. Michael Carrel is a 30-year veteran of the company, a tenure that gives him an unparalleled understanding of Nationwide’s complex infrastructure and unique culture.
Before taking the reins as the enterprise-wide CTO, Carrel served as the CTO for Nationwide Financial, where he successfully navigated the high-stakes world of financial services technology. His expertise hasn’t gone unnoticed by the industry, either; he was recently honored as the Ohio ORBIE Awards Large Enterprise CIO of the Year. Carrel isn’t just a steady hand; he is a decorated strategist who knows how to scale technology in a way that actually works for employees and customers alike.
The $1.5 Billion Vision: Scaling “Everyday AI”

Nationwide isn’t just dipping its toes into Artificial Intelligence; it’s diving into the deep end. The company has committed to a staggering $1.5 billion investment over the next few years, with a specific focus on making AI a part of the daily workflow.
The goals are ambitious. By next year, Nationwide aims for a 90% adoption rate of AI tools among its workforce. This isn’t just corporate jargon—the results are already visible. With over 2,000 custom AI agents already in use, the company has seen productivity gains ranging from 15% to 30%. Carrel’s mission is to ensure these gains translate into better service for you, the customer. By automating the routine, Nationwide’s team can focus on what they do best: being the “most trusted, caring, and customer-focused protection company” in the world.

A Seamless Transition for a New Century
Transitioning leadership during a $1.5 billion rollout could be risky, but Carrel’s deep roots at Nationwide ensure total continuity. He isn’t learning a new roadmap; he helped build it.
This appointment also aligns with Nationwide’s broader growth strategy. Coming off the heels of a $1.25 billion acquisition of a specialty benefits line from Allstate, the company is expanding its footprint while modernizing its core. Carrel’s job is to ensure that as Nationwide grows, its technology keeps pace, providing a seamless digital experience for a new generation of policyholders.

The Bottom Line
At 100 years old, Nationwide is refusing to act its age. By promoting Michael Carrel to CTO, the company has chosen a leader who blends deep institutional knowledge with a future-forward mindset.
Technology at Nationwide has evolved from a back-office support function into the primary engine of the business. As we look toward 2028, the “Network of the Future” isn’t just a dream—it’s a $1.5 billion reality being built right now.