The president and CEO of Teachers Life, Doug Baker, will be retiring from his position as of Sept. 30, 2017.
He has held this position since April 2006 and had served on the board for 17 years before his appointment. Mark Cummings will succeed as president and CEO as of Oct. 1.
“I would like to acknowledge Doug Baker for his brilliance and his long-lasting contribution to Teachers Life,” said Randy McGlynn, chair of the Teachers Life board. “His dedication to continually improving the company is a valuable legacy to all our members, the board and the staff.”
When he was appointed, Baker aimed to modernize the company’s technological infrastructure as a way to compete with larger companies with more resources.
Under his leadership, the company rethought its product line and expanded its strategic partnerships. In addition, it grew from being a provincial to a federal incorporation under the Office of the Superintendent of Financial Institutions.Teachers Life is now licensed in every Canadian jurisdiction.
Award winning model
In 2016, financial services research firm Celent recognized the accomplishments of the company by awarding them with the 2016 Model Insurer Award for Excellence in Insurance Legacy and Ecosystem Transformation.
“It has been my pleasure to be a part of Teachers Life’s transformation over the past 11 years,” said Doug Baker. “We have built strong and lasting partnerships to help Teachers Life grow and prosper. On a personal note, I want to thank the staff, the board, our members and all our valued partners for helping us with our transformation. I firmly believe that our organization will continue to draw on the energy we have created collectively for years to come.”