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Leapfrogging the Competition

With a solid background in helping build IT departments from scratch, Mike Anselmo was a wise choice for a new startup of an old insurance company looking to reinvent itself.

By Sharon Baker | Updated on September 30, 2009

With a solid background in helping build IT departments from scratch–as well as the recipient of virtualization technology awards and patents for innovative business systems–Mike Anselmo was a wise choice for a new startup of an old insurance company looking to reinvent itself.

From the ashes of the rehabilitated Pawtucket Mutual Insurance, Narragansett Bay Insurance Company is underwriting specialized homeowners insurance for coastal and inland homes from Massachusetts to New Jersey and is in the process of being licensed in other states along the eastern seaboard. In 2005, the company was purchased by new owners who converted the P&C carrier into a privately owned stock company. In January 2008, Narragansett Bay Insurance Company received $200 million in capital from a private equity firm to support its new business plan. Anselmo came on board in February 2009 as CIO to help the “168-year-old startup” develop an innovative IT enterprise systems architecture and infrastructure.

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