Performance director Michael Scott said outside help would be brought in to assist with putting the sport on the right path towards Rio, after they won just three medals at their home Games - a silver and two bronzes - compared with six in Beijing.
O’Shea, the former national director of the English Institute of Sport and current Director of Rugby at Harlequins, is appointed due to his strong expertise and understanding of coaching as well as sport science and sport medicine.
Lurz, a two-time Olympic marathon swimming medallist for Germany in 2008 and 2012, will use his vast experience to contribute to analysis of open water performance.
The panel will be chaired by independent member of the British Swimming management board Craig Hunter, who is currently working as chef de mission to the British Paralympic team, and will be completed by Scott.
Scott has said 'everything is on the table' and wants to conclude the debrief by the end of October this year.