The Big Interview: Liberty Mutual CIO Monica Caldas

“We think 24/7 about risk and price and trajectory and trend,” said Liberty Mutual Group’s CEO Timothy Sweeney during an investor day in June. The company’s team has to: Liberty Mutual is one of the largest global property and casualty insurers out there, with ~$166.7 billion in assets, $50.2 billion in revenues and over 40,000 employees in 2024. 

It is also, said Hamid Talal Mirza, president of US retail markets, speaking at the  June 5 event, “super focused on sophistication in our pricing and underwriting and out-segmenting others... That is just going to be a really important thing for us, as the cost just has gone up for our customers.” 

“Large tech debt and data debt”

Getting this done isn’t easy. Liberty Mutual is over a century old. 

It comprises “businesses that were acquired through multiple acquisitions over the years. A lot of those acquisitions were not integrated… So we're dealing with a large tech debt and data debt,” added Neeti Bhalla Johnson, president of global risk: “But there is an enormous opportunity for us to modernize our base and really create operating leverage.”

Enter… the CIO

People, process, technology. Any transformation involves all three.

But these investor day quotes highlight (certainly to The Stack) how central technology will need to be, as a fulcrum of Liberty Mutual’s efforts.