Standard Insurance Company, known as The Standard, has appointed Nicola Barrett as its new second vice president and actuary. This announcement comes as part of the company’s efforts to enhance its risk management and governance strategies. Barrett will play a key role in developing and implementing frameworks that govern actuarial practices and enterprise risk management.
Barrett’s responsibilities will include integrating effective governance practices throughout the organization. Lauren Canfield, who is the vice president and chief risk officer at The Standard, expressed excitement about Barrett’s appointment, highlighting her extensive experience in both consulting and industry roles. Barrett has worked with various companies, including MassMutual, where she led the development of financial forecasting models.
She holds degrees in decision sciences and actuarial science from Georgia State University and is a fellow of the Society of Actuaries. Additionally, she serves as the president-elect of the Caribbean Actuarial Association.
This leadership change follows The Standard’s recent completion of a $2 billion acquisition of Allstate’s employer voluntary benefits business. This deal, which closed on March 31, 2025, was initially announced in August 2024. The acquisition is expected to enhance The Standard’s offerings in the workplace benefits sector by allowing its products to reach Allstate customers through a strategic distribution partnership.
With Barrett’s appointment and the recent acquisition, The Standard is positioning itself to strengthen its competitive edge in the benefits market.