| Market Capitalization (Millions $) |
14,985 |
| Shares
Outstanding (Millions) |
160 |
| Employees |
10,910 |
| Revenues (TTM) (Millions $) |
13,348 |
| Net Income (TTM) (Millions $) |
703 |
| Cash Flow (TTM) (Millions $) |
-1,002 |
| Capital Exp. (TTM) (Millions $) |
137 |
Business Description
Company Profile: Unum Group
Company Overview:
Unum Group is a Delaware-based general business corporation that serves as the parent holding company for a diverse range of insurance and non-insurance subsidiaries. With comprehensive operations spanning North America, the United Kingdom, and select international markets, Unum Group has established itself as a leader in providing income protection solutions.
Core Operating Subsidiaries:
In the United States, the principal operating subsidiaries include:
- Unum Life Insurance Company of America (Unum America)
- Provident Life and Accident Insurance Company
- The Paul Revere Life Insurance Company
- Colonial Life & Accident Insurance Company
In the United Kingdom, the key subsidiary is Unum Limited. Collectively, these entities position Unum Group as the largest provider of both group and individual income protection insurance in North America and the UK.
Product Offerings:
Unum Group provides an extensive portfolio of insurance products that encompasses:
- Income Protection Insurance: Coverage designed to safeguard individuals and families from the financial implications of accidents or health issues.
- Long-Term Care Insurance: Aimed at helping individuals manage the costs associated with long-term care needs.
- Life Insurance: Protection policies to support beneficiaries financially in the event of the insureds death.
- Accident and Sickness Insurance: Providing essential coverage for unexpected incidents.
- Employer-Paid and Employee-Paid Benefits: A comprehensive suite of group benefits tailored for various employer and employee needs.
Sales and Distribution Strategy:
Unum Group employs a dedicated team of field sales personnel who specialize in:
1. Employer-sponsored plans for employees.
2. Supplemental benefit plans, including multi-life income protection and long-term care insurance, which are sold through payroll deductions at workplace settings.
These sales professionals collaborate with representatives from claims, customer service, and underwriting, alongside independent brokers and consultants, to create tailored solutions for new and existing customers.
Workplace Solutions and Management:
Unum Groups organizational structure and product breadth are specifically designed to assist employers in managing workplace absenteeism and enhancing productivity. Key integrated solutions include:
- Integrated Claims Management: Incorporating clinical resources to manage long-duration claims effectively, promoting quicker return-to-work outcomes.
- Return-to-Work (RTW) Program Planning: Customized RTW program resources aimed at decreasing lost workdays and overall healthcare costs for employers.
- Family Medical Leave Act (FMLA) Administration: Expert guidance in navigating complex FMLA regulations to improve absence management.
- Integrated Disability Management: Harmonizing early intervention, rehabilitation, and cost-containment practices with chosen workers compensation providers for efficient management.
- Comparative Reporting and Analysis: Tools that allow group customers to analyze their claim experiences against industry peers, empowering them to optimize their plans and policies.
Business Segments:
Unum Group operates through five reporting segments:
1. Income Protection Segment: Focused on insurance products that address loss of income due to sickness or injury, including disability management services.
2. Life and Accident Segment: Encompasses various life and accidental death insurance products.
3. Colonial Segment: Represents the Colonial Life & Accident Insurance Company, which offers life and income protection products through an agency sales force.
4. Other Segment: Contains products that are no longer actively marketed, with some exceptions for individual income protection offerings.
5. Corporate Segment: Involves the overall corporate governance aspects and related activities.
Competitive Landscape:
Unum Group operates in a highly competitive environment with over 1,800 legal reserve life insurance companies in the United States. Competition is particularly intense in the individual and group income protection markets, where Unum competes both regionally and nationally against major insurers, including significant players in the life and long-term care markets.
With a strong focus on integrated solutions and a diverse range of products, Unum Group aims to provide comprehensive protection and support for both individual customers and corporate clients alike.
Company Address: 1 Fountain Square Zagreb 37402 City of Zagreb
Company Phone Number: 294-1011 Stock Exchange / Ticker: NYSE UNM
|
61.56 %