Massachusetts Mutual Life Insurance Company (MassMutual) officially opened its Phoenix, Ariz., location. The 11001 North Black Canyon Highway location houses employees of the company’s U.S. insurance and retirement businesses, as well as enables the geographic expansion of the company’s customer service operations.
MassMutual plans to employ approximately 400 people at the Phoenix location by the end of 2014. A variety of professional financial services roles will be offered including customer service, sales, operations, underwriting, claims, and technology opportunities.
The company’s U.S. Insurance business includes the development, marketing, distribution, and servicing associated with MassMutual's core whole life insurance product and its comprehensive portfolio of insurance and accumulation products sold in the U.S. It also includes the technology, compliance, and finance functions associated with those products, which include life insurance, disability income insurance, long term care, and annuities.
MassMutual’s Retirement Services business will build on an existing Phoenix team acquired through the company’s recent purchase of The Hartford’s Retirement Plans business. The Hartford Retirement Plans business had a team of 70 employees in the area before the acquisition closed on Jan. 1, 2013.
In other industry news:
AssuredPartners Inc., through its subsidiary AssuredPartners of New Jersey, acquired Eastern Insurance Acquisition Agency LLC, dba Eastern Insurance Group. The agency specializes in commercial insurance, personal insurance and life, health and employee benefit programs for individuals and businesses of all sizes.
Eastern Insurance Group has helped clients manage their vulnerabilities, risks and health plans for more than 30 years. Comprised of three divisions, the agency offers services that include: risk management, loss control, personal and corporate planning, investment and insurance solutions. Eastern Insurance Group is one of the largest agencies in northeastern Pennsylvania, reporting revenues of approximately $4.3 million.
As part of the acquisition, more than 45 Eastern Insurance Group employees will join AssuredPartners of New Jersey. Operations are based in Wilkes Barre and Hazleton, Pa., and will continue under the local leadership of Brian Corbett and Paul “Chip” Siegel.
Employer groups signing up for an HSA Bank’s HSA program may elect to add the Tango Health solution to eliminate barriers to HDHP + HSA adoption, simplify eligible employee census management and streamline the payroll deduction process. Employees can now combine the benefits and features of their HSA Bank savings account with Tango’s solutions in an integrated and seamless manner.
Geneos Wealth Management and Kovack Securities announced that 500 of their Independent Financial Advisors are now new Financial Services Institute Financial Advisor Members. The Financial Advisors’ first-year membership is offered on a complimentary basis by the firms.
In addition to advocacy, FSI financial advisor members receive:
- Access to analyses of regulatory and legislative proposals;
- An Advocacy Action Center to easily communicate with legislators and regulators;
- Opportunities to visit Capitol Hill and educate lawmakers;
- Access to FSI’s first-ever Financial Advisor Summit; and
- Exclusive FSI publications and communications.
Thomas Valuck, MD, JD, joined Discern as a partner to help clients drive health system improvement and navigate post-reform challenges. Valuck is a nationally respected expert in value-based purchasing, having held leadership positions with the Centers for Medicare and Medicaid Services (CMS) and most recently the National Quality Forum (NQF).
Valuck joins Discern after four years at the National Quality Forum, where he served as the senior vice president, Strategic Partnerships. He managed NQF-convened collaborations — the Measure Applications Partnership (MAP) and the National Priorities Partnership (NPP) — as well as NQF’s engagement with states and regional community alliances. At CMS, Valuck advised senior agency and Department of Health and Human Services leadership regarding Medicare payment and quality of care issues, particularly value-based purchasing. While at CMS, he was recognized for his leadership in advancing Medicare’s pay-for-performance initiatives, receiving both the 2009 Administrator’s Citation and the 2007 Administrator’s Achievement Awards.
Valuck also served as the vice president of medical affairs at the University of Kansas Medical Center, and before that served on the Senate Health, Education, Labor, and Pensions Committee as a Robert Wood Johnson Health Policy Fellow; with the White House Council of Economic Advisers; and at the law firm of Latham & Watkins. He has degrees in biological science and medicine from the University of Missouri-Kansas City, a master’s degree in health services administration from the University of Kansas, and a law degree from the Georgetown University Law School.
For 10 years Discern has partnered with clients to create programs that align incentives with better health system performance.
Burnham Gibson Financial Group promoted Todd Stahl, CFP to director of wealth management and Brian Leonard to a senior analyst.
As the director of wealth management, Stahl will work heavily on portfolio design and monitoring where he hopes to help streamline processes and looks forward to supporting clients in exciting current market conditions. Leonard will research economic conditions, design asset allocation strategies, and service Burnham Gibson’s clients.
InsureXSolutions, a private insurance exchange, launched new resources at insurexsolutions.com, to help Illinois consumers and small businesses learn about their health insurance options within the complex new health laws.
The insurance exchange provides e-learning resources, including a glossary, blog articles and an FAQ library addressing the most common questions being asked by those in search of information on the new health insurance marketplace. Consumers can also determine if they qualify for health insurance premium assistance with the availability of a subsidy calculator.
Cooper Gay Swett & Crawford (CGSC), the leading global wholesale and reinsurance broking group, has appointed Martin Sullivan as Non-Executive Chairman of CGSC Delaware, the main board for the Group’s North American operations.
Sullivan served as president and CEO of AIG Inc. and more recently deputy chairman of Willis Group Holdings.
CGSC’s North America operations include Swett & Crawford, Energy Technical Underwriters and Managing General Agents (MGAs) Creechurch and Ethos Underwriting Services.