Liberty Mutual Insurance announced Wednesday that it has appointed Michael Prestileo as senior vice president & general manager of distribution, “with responsibilities for sales and service across the benefits organization.”
“Mike is the ideal choice to lead our distribution,” said Liberty Mutual Benefits president Rebecca Schechter. “He was part of the leadership team that brought together Liberty Mutual’s stand-alone Group Benefits, Individual Life and Accident & Health operations to create Liberty Mutual Benefits several years ago. He then drove the creation of effective go-to-market strategies for the new organization. And now he will execute those strategies, building scale and driving our mutual success with our distribution partners.”
Prestileo joined Liberty Mutual’s fold in 2006 and has held various positions across the company’s Commercial Insurance strategic business unit. He was most recently vice president and managing director of Liberty Mutual Benefits (LMB). He was also credited for creating business strategies for the business arm’s Employer and Individual segments.
LMB provides a range of employee benefits products and services, including disability, life, absence management and voluntary offerings, as well as individual life and annuities. According to a Gen Re Group Market Survey, LMB’s employer segment is the fastest growing group life and disability carrier. LIMRA’s first quarter 2016 data revealed that its individual segment is the leader in the bank life insurance market.
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