Mike Foster

Mike Foster

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Head of Insurance Operations
Boston, Massachusetts, United States

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Jobs verified_user 0% verified
  • Counterpart
    Head of Insurance Operations
    Counterpart
    Apr 2024 - Current (2 years 5 months)
    🔑 KEY RESPONSIBILITIES: Responsible for strategy and operational execution spanning product development and launch, carrier and reinsurance partnership operationalization, quote-to-bind pipeline optimization, billing operations, claims support operations, and oversight of outsourced operations. Also served asked subject matter expert for insurance systems, technical product manager and finance director on various initiatives. 🏆 ACCOMPLISHMENTS: - Launched 5 new insurance products (both non-admitted and admitted) across Management and Professional Liability that drove a 2.6x increase in annualized GWP run rate and +64% YoY GWP growth 2024-25 • Onboarded and operationalized 4 new carrier partners with more favorable terms and expanded unde
  • LINCOLN FINANCIAL GROUP
    Vice President, Strategy, Insights, & Business Solutions
    LINCOLN FINANCIAL GROUP
    May 2021 - Apr 2024 (3 years)
    🔑 KEY RESPONSIBILITIES: Led organizational transformation for a 500-person Operations organization, serving as the bridge between executive strategy and operational execution. Led Strategy, Analytics, Quality Assurance, and Training functions that delivered a continuous improvement flywheel while also leading a 75-person Customer Contact Center. Built functions from scratch, deployed enterprise technology platforms, and drove measurable improvements in quality, efficiency, and employee retention. 🏆 ACCOMPLISHMENTS - Designed and executed organizational restructure including ground-up builds of Training, Quality Assurance, Strategy, and Analytics teams that created the operational infrastructure for sustainable performance improvement -
  • LINCOLN FINANCIAL GROUP
    Vice President, Business Transformation
    LINCOLN FINANCIAL GROUP
    Jan 2020 - May 2021 (1 year 5 months)
    🔑 KEY RESPONSIBILITIES: Served as the organization's primary integrator between strategy and execution by identifying high-impact initiatives, building cross-functional coalitions, and driving implementation through complex organizational dynamics. Also served as the SBU lead on several enterprise-wide critical initiatives and partnered directly with C-suite executives on annual strategic planning. 🏆 ACCOMPLISHMENTS: - Created $12M+ annual run rate expense savings through strategic initiative portfolio: team restructures, the company's first partner API integration, RPA deployment for invoice processing, eBilling launch, and digital forms processing - Sponsored and provided day-to-day leadership for new policy administration system imple
  • LINCOLN FINANCIAL GROUP
    Vice President, Shared Services
    LINCOLN FINANCIAL GROUP
    May 2018 - Jan 2020 (1 year 9 months)
    🔑 KEY RESPONSIBILITIES: Led a 300 person team within Group Benefits Claims supporting internal and external customers spanning Payment and Financial Services, Appeals, Training, Quality Assurance, Project Management, Continuous Improvement, and administrative services. Accountable for workforce alignment, vendor management, quality, and cost efficiency. Joined following a significant acquisition with a mandate to rationalize the operating model, align team capabilities to customer needs, and lead the successful exit of the post-acquisition transitional services agreement. 🏆 ACCOMPLISHMENTS: - Realigned operational teams to better match skill sets with customer needs, reducing administrative headcount expense by nearly 15% while simulta
  • Liberty Mutual Insurance
    Vice President, Strategy, Planning, & Analytics
    Liberty Mutual Insurance
    Oct 2017 - May 2018 (8 months)
    🔑 KEY RESPONSIBILITIES: Responsible for the strategic and analytical infrastructure and executive leadership supporting operational decision-making across the 2500-person Claims organization. Scope included workforce planning, technology and project prioritization, real-time capacity modeling, and leading the Claims integration workstream through a major post-acquisition Day 1 cutover. 🏆 ACCOMPLISHMENTS: - Built real-time production inventory, staffing, and capacity models in partnership with Talent & Enterprise Services and Data Science, improving staffing accuracy and cost-efficiency across Claims, with the model subsequently expanded to additional departments.  • Overhauled technology and business project intake, discovery, requiremen
  • Liberty Mutual Insurance
    Director, Operations & Systems
    Liberty Mutual Insurance
    Dec 2015 - Oct 2017 (1 year 11 months)
    🔑 KEY RESPONSIBILITIES: Sitting at the intersection of IT and business, accountable for successfully bringing an internal startup from 0 to 1 through leading the technology build of a fully integrated quote to claim cloud-native administration platform while designing and launching an innovative operational service model supporting the brand new customer segment and products. Responsible for the end-to-end operational design, technology buildout, and go-to-market execution required to stand up the new line of business. Also provided executive leadership for innovation and experimentation initiatives, including the launch of fully digital direct-to-consumer products. 🏆 ACCOMPLISHMENTS: - Launched a fully integrated, cloud-based quote-t
  • Liberty Mutual Insurance
    Director, Product Management, State Operations
    Liberty Mutual Insurance
    Jul 2014 - Dec 2015 (1 year 6 months)
    🔑 KEY RESPONSIBILITIES: P&L accountability for a $350 million personal lines portfolio across auto, home, umbrella, renters, condo, and other specialty Personal Lines insurance products. Responsible for product strategy, pricing, and market performance, partnering with actuarial, underwriting, and distribution teams to drive profitability and top-line growth through segmentation improvements and new product launches. 🏆 ACCOMPLISHMENTS: - Drove an 11% improvement in portfolio profitability through enhanced customer segmentation analysis and targeted pricing adjustments • Supported the development and launch of a new affluent home product, contributing to a 6% increase in top-line property insurance growth. • Grew auto product top-line rev
  • Liberty Mutual Insurance
    Senior Business Consultant
    Liberty Mutual Insurance
    Jul 2012 - Jul 2014 (2 years 1 month)
    🔑 KEY RESPONSIBILITIES: Internal strategy and transformation consultant deployed across Liberty Mutual's domestic and international operations. Assignments ranged from eCommerce strategy and technology investment planning to post-merger product integration and rationalization, international financial operations buildout, and enterprise procurement transformation, requiring the ability to drive outcomes across functions without direct organizational authority. 🏆 ACCOMPLISHMENTS: - Delivered an investment strategy framework and technology roadmap governing Liberty Mutual's $40 million annual eCommerce budget, including improved controls for customer experience analysis and quote funnel optimization. • Led a cross-functional post-merger pro
  • Liberty Mutual Insurance
    Senior Business Analyst + Lean Management System Leader
    Liberty Mutual Insurance
    Mar 2009 - Jul 2012 (3 years 5 months)
    🔑 KEY RESPONSIBILITIES: Dual-role position within Liberty Mutual's Small Commercial Underwriting department, combining hands-on analytical and systems work with enterprise-wide Lean transformation leadership. As Senior Business Analyst, responsible for underwriting quality, data analytics, and platform modernization. As Lean Management System Leader, responsible for deploying a new management system across multiple locations, coaching executives on root cause problem solving, visual management, and continuous improvement. 🏆 ACCOMPLISHMENTS: - Drove 50% improvements in underwriting quality and accuracy through enhanced auditing processes and reporting capabilities - Contributed to the launch of a new underwriting platform through testing,
  • Liberty Mutual Insurance
    Claims Team Manager
    Liberty Mutual Insurance
    May 2002 - Mar 2009 (6 years 11 months)
    🔑 KEY RESPONSIBILITIES: Front-line claims management role specializing in Workers' Compensation across multiple jurisdictions, serving some of Liberty Mutual's largest mid-market customers. Progressed from individual contributor to managing several front-line teams spanning medical-only and claims support through high-value medical and legal claims. Also served as the office liaison for external legal firms, state EDI relationships, and financial controls review for duplicate claims and payments. 🏆 ACCOMPLISHMENTS: - Created and led a new litigation unit from the ground up, developing protocols and best practices for complex litigated claims that reduced allocated legal expenses by 33% and improved overall disposition outcomes. - Success
Education verified_user 0% verified
  • Wake Forest University School of Business
    MBA
    Wake Forest University School of Business
  • UMN Carlson School of Management
    BS, Finance and Insurance/Risk Management
    UMN Carlson School of Management
Projects (professional or personal) verified_user 0% verified
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