Michael Morrow Named Chief Actuary at Benefits Science Technologies
Morrow will apply 20+ years of actuarial experience to help BST clients improve their healthcare plans while lowering costs and driving sustainable results.
BOSTON, Dec. 2, 2019 /PRNewswire-PRWeb/ -- Benefits Science Technologies (BST) announced today that Michael Morrow has been named Chief Actuary. He brings an actuarial perspective to the company's healthcare analytics platform and provides counsel on the actuarial implications of business strategies and regulatory changes.
Michael is a seasoned actuary and risk leader with more than 20 years of financial and quantitative analysis, product development, and consulting expertise. In his senior management role, Michael works with the BST data science team to identify key areas of risk and cost in order to create customized solutions to improve client health plans.
"Michael brings significant technical expertise and client-focused experience to our team." said Stephen Sofoul, MBA, CEO & President. "His leadership will play an important role as we continue to execute our strategic priority to lead innovation in the healthcare decision space – to help clients better define, predict and prescriptively respond to risk."
Michael applies his experience in analytics and machine learning models to identify key cost drivers, improve risk margins, and recommend predictive risk and underwriting methodology changes to help clients optimize their complex healthcare decisions.
"A primary area of focus in my various leadership roles has been to reduce repetitive work so colleagues could spend more time solving client problems." said Morrow, "The unique innovations being developed by Benefits Science align perfectly with that mission. These powerful capabilities help clients improve the efficacy of their health benefits while balancing costs, and ultimately help employees make smarter healthcare choices."
He previously served as US Chief Actuary and Health Analytics leader for Aon, where he led a team of approximately 300 actuaries, underwriters and data scientists. Michael earned his MBA degree from the University of Denver, Denver, CO. He received his B.S. in Actuarial Science, graduating with honors from Drake University, Iowa. He is a Fellow with the Society of Actuaries and member of the American Academy of Actuaries. Michael and his family currently reside in Denver, Colorado.
About Benefits Science Technologies
BST provides data analytics software/analysis to help manage the risk of self-funded health plans. Plan holders improve their connection to data, empowering optimal decisions to control costs, and improve the quality of care for plan members. The company distributes these capabilities to employers directly, through brokers/consultants, or by association with carriers (stop-loss and voluntary benefits providers), benefit administrators, PEOs, TPAs, PBMs, and/or cost-containment providers.
Founded in 2012, the company is recognized as a world-leading research and applied science team, applying advanced analytics and Robust Optimization to complex health insurance decisions. Led by a 30-year MIT professor and Co-Director of the Operations Research Center, the MIT-trained team combines world-class technical knowledge and practical financial experience.
A powerful and unique feature of the platform lies in its ability to provide prescriptive recommendations. The company's Health Plan Optimizer designs optimal health plan configurations while obeying overall premium, business quality, and other plan owner-specified criteria. These tools enable consultants/brokers and employers to model "what if" scenarios for plan configuration, including stop-loss and supplemental plan design. BST delivers timely, customized business intelligence, tailored to the specific healthcare needs of the group, empowering decision-makers to maximize every healthcare dollar. The company is headquartered in Boston, MA, with offices in Atlanta, GA, and Houston, TX.
SOURCE Benefits Science Technologies
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