Boston Mutual Life Insurance Company Acquires IT Outsourcing Service from Onyx Data Solutions
National life insurance carrier strengthens information technology operations to bolster continued innovation
Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace, today announced the acquisition of the Information Technology (IT) Outsourcing Service from long-term partner Onyx Data Solutions, a technology company engaged in the business of IT strategy, development, management, and consulting. The acquisition became effective in November 2020, with all Chief Information Officer (CIO) responsibilities transitioning back to Boston Mutual Life by mid-January 2021. As part of the acquisition, the IT Outsourcing Service staff were offered and accepted positions at Boston Mutual Life, adding 26 employees to the organization.
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The result is a turnkey insourcing of IT operations, anticipated in Boston Mutual Life’s long-term strategic plan. Specifically, the strategic plan calls for an enhanced state of organizational readiness to support sustainable, profitable growth and to future-proof the company. The transaction achieves these objectives and further diversifies the company from a talent, experience, and geographic perspective.
“We are pleased that the entire Onyx Data Solutions IT Operations team will be a part of our organization and we welcome them to the Boston Mutual Life family,” said Paul A. Quaranto, Jr., Chairman, CEO and President at Boston Mutual Life Insurance Company. “We look forward to the impact that an integrated IT Operations area will have on our ability to effectively execute our strategic plan on an accelerated timeline – allowing us to create an even better customer experience for our policyholders, producers, and employees.”
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Boston Mutual Life’s history with Onyx Data Solutions dates back almost five years. In 2016, the national life insurance carrier engaged the organization to help develop an overall approach that would support the company’s strategic plan. The partnership allowed Boston Mutual Life to make considerable progress in modernizing its technology infrastructure, operations, and capabilities.
“Onyx Data Solutions has served us well during our long-term partnership. We cannot thank them enough for the good work they have done on our behalf and their support with the acquisition,” added Quaranto. “We wish Chief Executive Officer Dan Blaney and Onyx Data Solutions the very best in the future.”