RMS appoints Mike Pritula as president, effective March 1

Risk Management Solutions, Inc. (RMS) announced on Tuesday that it has appointed industry veteran Mike Pritula as president, effective March 1.

Mike Pritula has been appointed president of RMS, effective March 1.

Pritula will lead RMS’ client service and market development, advancing the company’s role in delivering value to enable its clients’ strategic success, the catastrophe risk modelling company explained in a press release.

As president, Pritula joins the RMS Executive Committee, which includes CEO Hemant Shah; chief financial officer Peter Eidelman; Mohsen Rahnama, chief risk modeling officer; Eric Yau, general manager of platform and software; and Michael Steel, global head of solutions.

Pritula joins RMS after a “distinguished 35-year career at McKinsey & Company, where he has worked closely with international insurers, reinsurers, brokers and industry associations on all facets of improving business performance,” RMS said in the release. He helped develop and implement growth strategies for leading participants in the industry, has worked on enhancing operational performance across all functions and has helped senior executives to improve their organization’s effectiveness. “He has been a leader in building McKinsey’s insurance practice into the most respected and broadest source of performance improvement counsel in the global insurance industry,” RMS said.

Pritula is a member of the Boards of the School of Risk Management at St. John’s, the International Insurance Society, the Insurance Industry Charitable Foundation, New York·Presbyterian Hospital and The Joyce Ivy Foundation. He holds degrees from Princeton University and Stanford University’s Graduate School of Business.

RMS said in the release that Pritula’s appointment “reflects RMS’ ongoing commitment to the global risk and insurance industry, strengthening its role as the market-leading global risk modelling firm and to elevating its role in helping clients’ business transformation through data analytics and platform-driven solutions.”

Shah, who is also the co-founder of RMS, said that he was “delighted” to welcome Pritula to RMS. “For more than two decades, I’ve had the opportunity to experience first-hand Mike’s leadership in the industry. He is the foremost counsellor to the industry’s senior executives, across all continents and market segments and a preeminent thought leader on strategic performance and transformation. But it’s more than that. Mike has a proven track-record of building and operating high-performing teams that are dedicated to customer success. Mike will be instrumental in taking RMS to the next level.”

Pritula noted in the release that companies in the risk and insurance industry, from start-ups to established leaders, are driving rapid change through adoption of sophisticated risk models as well as big data and scalable analytics technology across all of their functions. “Since its founding as a spin-off from Stanford University over 25 years ago, RMS has remained at the cutting edge in this regard,” he said. “I am impressed by RMS’ Silicon Valley-culture of innovation, its leadership at a crucial inflection point in the market, and its passion and positive vision for the role that the risk and insurance industry fulfils to ensure resiliency on a global scale.”