Pittsburgh-based Innovu, Inc. announced the appointment of global retirement and employee benefits leader, Hugh O'Toole, to the position of Chief Executive Officer and Chief Commercial Officer.
O'Toole joins the company after serving as Senior Vice President of MassMutual and recently joining the Innovu board of directors. With this move, founding President and CEO, Pat Stewart, will remain as President to lead the company's partner and client experience, operations and innovation functions.
"The appointment of Hugh as our new CEO is a response to the rapid growth we've experienced and the need to be well-positioned to address the complex challenges advisors and their employer clients face," Stewart commented. "As a leading expert in the retirement and employee benefits sectors, Hugh's experience enables Innovu to merge insights from retirement, benefits, and workforce risk to reflect the industry's desire to manage risk on an integrated basis. He has been a valued and trusted adviser to me as a member of our board, and I am thrilled to partner with him on taking Innovu into the future."
With the addition of O'Toole to the executive leadership team, Innovu plans to scale rapidly to align with advisors to penetrate new markets and industries with its InnovuLens™ suite of solutions.
"I'm excited to join the Innovu leadership team as the CEO and help continue the legacy of growth and success that Pat has built as the founder of this company," O'Toole said. "As someone who has spent his entire career in retirement and employee benefits, I am confident in saying that Innovu is a true disruptor in the marketplace and has changed the way advisors and employers look at and leverage benefits and risk data. I'm looking forward to guiding the organization forward."
Improving the health and cost burden for the employer and the employee is at the heart of Innovu's mission. For example, a workforce with major chronic disease, such as diabetes and hypertension, can consume up to 75% of the cost paid by the employer and employee in the course of a single year. Innovu's innovative technology identifies the key drivers of these expenses and assists the advisor in intervention techniques to mitigate the cost and improve the health of the workforce.
The InnovuLens value lies not only in the data collection, aggregation, and analysis but also in the strategic solutions it provides to advisors and their client employers. The Innovu approach is simple – employee well-being is an interconnected, interdependent "wheel" that includes healthy families, healthy to work, and healthy retirement. When all components of the wheel are healthy, so are employees. With the InnovuLens solution, advisors can pinpoint where in that well-being wheel an employer's human capital risk lies and recommend targeted solutions to address issues.
"Data analytics is a topic that is not well understood in the world of employee benefits, workforce risk, and retirement. Everyone is thinking about how to use it to make the right business decisions for their employees and their bottom line," Drew Murphy, Economics professor, Gettysburg Collegecommented. "Hugh has been at the forefront of this industry and knows firsthand how important it is for advisors to be able to leverage data to help employers create a healthier, more productive workforce. Innovu's solutions pair well with his experience and his expertise will only further expand their reach in the marketplace."
About Innovu, Inc.
Innovu was founded in 2014 to transform the way benefits advisors and their clients use data. Through their InnovuLens platform, advisors help employers identify and mitigate business and population risk by implementing strategic intervention techniques that address the key risk drivers. Learn more at www.innovu.com.
