Sustainable Profitability

Boston Mutual Establishes New Enterprise Risk Management Department

Integrated Team Will Build Sustainable Strategies to Best Position Company to Manage Risk

CANTON, Mass. – (October 23, 2019) – Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, announced the introduction of its new Enterprise Risk Management (ERM) department. The ERM team is primarily accountable for the development and deployment of an operationalized ERM strategy and discipline across the entire company.

“Our ERM philosophy is to collaborate across our Strategic Business Centers and Staff Departments to create a company-wide risk-aware culture,” said Joseph Sullivan, Chief Risk Officer and Executive Vice President. “Boston Mutual is constantly evolving and our team will continue to closely research and update our established key risk and performance indicators, risk tolerances, and appetites to follow best practices.”

New and Next-Gen Products

Additional departmental responsibilities include managing reinsurance relationships and strategies, as well as developing new and next-generation products. In addition, the Internal Audit team will be part of the ERM department, resulting in enhanced organizational alignment and integrity.

Our ERM philosophy is to collaborate across our Strategic Business Centers and Staff Departments to create a company-wide risk-aware culture...

“The ERM department plays a key role in meeting Boston Mutual’s long-term strategic goals of achieving sustainable, profitable growth,” said Paul A. Quaranto, Jr., Chairman, Chief Executive Officer and President. “With our holistic ERM strategy and discipline, risk governance will now be more embedded in our day-to-day activities to help ensure we can continue to deliver on our promises to our policyholders and producers.”

 

 

About Boston Mutual Life Insurance Company
Boston Mutual Life Insurance Company is a national insurance carrier providing flexible insurance products for working Americans in the private and public sectors from coast to coast. Boston Mutual offers a range of insurance coverage options for both individuals and employers, with a product portfolio that includes life, accident, critical illness, and disability insurance coverage. Founded in 1891, the company, which is headquartered in Canton, Massachusetts, has enjoyed a long history of financial strength and stability. For more information, please visit www.bostonmutual.com or follow the company on Facebook (/BostonMutualLifeIns) or LinkedIn (/company/boston-mutual-life-insurance).