MassMutual's humble origins can be traced to Springfield, Massachusetts in 1851, when a group of 31 people started selling policies to "friends and neighbors." Crandall said that MassMutual still serves a circle of friends and neighbors – the scope of it has simply expanded from 31 to 5 million. As a company built on the tenet of providing protection for everyday Americans, Crandall said that MassMutual has a responsibility to help the "estimated 37 million American households who have no life insurance at all and, in many cases, need it more than the affluent people who do have life insurance."
"Following a thorough strategic assessment of our operations and footprint, we concluded that our home state of Massachusetts is the best place for us to grow and thrive over the long term," said Roger Crandall, the company's chief executive. "We have deep roots and a supportive community in our hometown of Springfield, and we will continue to invest and grow our workforce in the city."
A major corporate gift is aimed at supporting cutting-edge research at the University of Vermont. MassMutual and UVM announced Friday that the Springfield, Massachusetts-based life insurance company will give the university $5-million over five years, starting in 2019. That funding will create the MassMutual Center for Complex Systems and Data Science on UVM's Burlington campus, supporting data analytics work. According to UVM, some of the research conducted at the center will include studies on the link between people's physical and financial health and environmental impacts on human wellness. A Utah boy shredded over $1,000 of his parents money which they were saving to reimburse their parents for Utah Utes Football season tickets.
MassMutual is expanding its support of data science study at the University of Vermont in a big way. Just more than a year after donating $500,000 to the school's Complex Systems Center, the life insurer says it is providing $5 million in additional funding over five years beginning in 2019. The money will establish the MassMutual Center of Excellence for Complex Systems and Data Science, which will initiate research projects and programs aimed at better understanding human wellness through data analytics, as well as programming to cultivate a strong pipeline of data science talent, according to the company. "This new center will provide students with the opportunity to gain deeper insights into data assets, publish their findings, and ultimately identify trends in health and wellness to help people live healthier lives," said Roger Crandall, MassMutual's Chairman, President and CEO. "We look forward to continuing our partnership with UVM to foster greater talent in the data science field and working together to find new ways to harness the power of data to make a positive impact on our world."
How did Greenfield third-graders do on their standardized tests? How many cucumbers did Springfield's Gardening the Community sell this year, and which farmers market delivered the most sales? Number crunchers at MassMutual Data Science know the answers, having harvested statistics from several area nonprofits and community groups: Gardening the Community and its urban vegetable patches; CISA, which helps link consumers with farmers and locally grown foods; the Pioneer Valley Planning Commission; and others. This week MassMutual data scientists set aside the projects they are doing for the Springfield insurance giant and helped the community not only make sense of their data but also learn how to collect more of it. In the case of the planning commission, the data scientists helped come up with ways to present the information to the public in a coherent manner.