Insurance solutions provider enters 130th year poised for continued growth and innovation in commitment to the future
“As we enter our 130th year, Boston Mutual Life remains committed to building on our founding as a progressive life insurance company, adapting our business practices to keep momentum in the markets we serve, and continuing to deliver on our commitment to providing peace of mind to those who rely on us,” said Paul A. Quaranto, Jr., Chairman, Chief Executive Officer and President at Boston Mutual Life Insurance Company. “We anticipate these new initiatives will have a significant impact on our success and position us well as we transition to a post-pandemic world.”
Launch and Expansion of Strategic Project Management Office (SPMO) and Innovation Lab
One year ago, Boston Mutual Life introduced its SPMO and Innovation Lab areas, with staff based in Omaha, Nebraska, and Canton, Massachusetts. With the Omaha office as the first non-sales office outside of the company’s headquarters in Massachusetts in its history, the joint mission of the two teams is to support key projects and develop and implement solutions throughout the company.
The two teams have since been involved in a number of critical projects, including assisting with business continuity plans related to the coronavirus pandemic. The department spearheaded the company’s transition from fully in-office working arrangements to majority operating in a remote environment. The department also assisted business areas in the completion of 26 projects by the end of 2020.
Led by Vice President Jennifer Helms, the area welcomed Jennifer King in November 2020 to complete the build out of its leadership team. King, Director – SPMO, is based in the Canton office and will serve alongside her counterpart, Andrew Sherwood, Director – Innovation Lab, as a leader for the SPMO team, helping to further mature practices and processes. King brings with her more than 20 years’ experience in project and program management in the financial services industry.
Strategic Growth Through Hiring, Acquisition, and Advancement in Employee Opportunities
The acquisition of Onyx Data Solutions’ IT Outsourcing Service last November accelerated the company’s progress by enabling a turnkey insourcing of IT operations and an enhanced state of organizational readiness to support the deployment of technology as part of the company’s future-state strategies.
As part of the acquisition, the 26 employees of the IT Outsourcing Service area were offered and accepted positions at Boston Mutual Life, contributing to the company’s personnel growth. Jennifer Helms leads the IT Operations department as the Interim Vice President of IT Operations, with assistance from Mikaela Pappas, Second Vice President of IT Operations.
Other recent key moves towards organizational alignment include the appointment of Regional Sales Vice President Josh Police to the newly created role of Vice President of Market Strategies, serving as a dedicated resource focused on challenges and opportunities resulting from an unprecedented year in 2020. In this role, he will strategically assess existing and new markets, products, and distribution channels to best position the company for the next normal.
The organization also furthered its commitment to its people with the introduction of the company’s Diversity, Equity and Inclusion (DEI) Action Plan: The Future of Work. On behalf of the company, Quaranto signed the CEO Action Pledge for Diversity and Inclusion – the largest CEO-driven commitment to advance diversity and inclusion in the workplace, as well as endorsed the American Council of Life Insurers (ACLI)’s Economic Empowerment and Racial Equity Initiative – aligning Boston Mutual Life’s efforts internally with those across the industry.
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