SPRINGFIELD, Mass., Aug. 11, 2017 /PRNewswire/ -- The Shingo Institute has awarded Massachusetts Mutual Life Insurance Company (MassMutual) the prestigious Shingo Silver Medallion award in recognition of the company's continuous improvement transformation efforts. An added plus: MassMutual becomes the first and only insurance company in the world to achieve this recognition from the renowned Shingo Institute.
"It is a sincere pleasure to add organizations and individuals each year to our distinguished group of Shingo Award recipients," said Ken Snyder, executive director of the Shingo Institute. "MassMutual is truly leading the way in this new era of enterprise excellence. MassMutual's efforts distinguish it as a member of an elite group doing world-class work."
The Shingo award is based on a comprehensive assessment of an organization's culture and how well it is fundamentally improving for the long term.
"MassMutual's engaged workforce, open mindedness and creativity of the organization, corporate caring for associates, environmentally friendliness and leadership alignment are some of the reasons cited by the Shingo Institute for the Silver Medallion," said Roger Putnam, head of insurance operations at MassMutual.
Only one notch from the highest attainable Shingo award, the Silver Medallion – issued annually by the Utah State University affiliated institute – recognizes organizations committed to achieving sustainable world-class results.
"This is a wonderful honor for MassMutual and our employees, and it is an important and historic milestone in our journey toward operational excellence," said Elizabeth Ward, chief financial officer and chief actuary at MassMutual. "This important external validation marks a milestone and opportunity to reflect on our journey in helping more people secure their future and protect the ones they love."
A program in the Jon M. Huntsman School of Business at Utah State University and home of the Shingo Prize, the Shingo Institute supports organizations on their journey to enterprise excellence. According to the Institute, the Shingo Model has become a standard of excellence to which organizations across the globe aspire.
MassMutual is a leading mutual life insurance company that that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit massmutual.com.