MassMutual has galvanized for over 160 years around its mission to help people secure their future and protect the ones they love. Today's technology and data are changing customer expectations. This allows new players to enter the market and dis-intermediate vertical insurance businesses. Mike Fanning, Executive Vice President at MassMutual Financial Group, shares how MassMutual is looking at the future of the insurance industry, what keeps him up at night, and MassMutual’s approach to dealing with the changing landscape of customer expectations, regulation, and data.
Mike Fanning is the head of MassMutual's domestic U.S. insurance and retirement businesses, representing $359 billion in assets under management, and serving more than five million individual and institutional customers with a broad range of financial solutions. Through MassMutual’s nationwide network of more than 9,000 financial professionals, its comprehensive workplace products and solutions, and extensive online tools, the company is committed to providing a personalized experience that empowers people to secure their future and protect the ones they love.
Prior to taking on his current leadership role, Mr. Fanning led MassMutual’s domestic insurance business, which saw substantial growth under his leadership, including industry-leading sales growth of individual and whole life insurance offerings, completion of the 2016 acquisition of the MetLife Premier Client Group, significantly expanding MassMutual’s distribution footprint, and the launch of several innovative approaches to reach more customers such as Society of Grownups, ValoraLife and Haven Life.
Mr. Fanning joined MassMutual in 2006 as head of operations in the company’s insurance business, where he was responsible for new business, underwriting, in-force service and claims as well as its broker-dealer MML Investor Services LLC.
Mr. Fanning is an industry authority on insurance and retirement and has served as a member of the board of LIMRA and LOMA, collectively known as LL Global. In addition, he has been a contributor to A.M. Best publications, The Wall Street Journal, The Huffington Post and other nationally recognized magazines and journals.
Mr. Fanning is a graduate of Brown University with degrees in Economics and Organizational Behavior and Management.
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