Assurant 2014 Annual Report Download - page 5
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3 ▪ 2014 ASSURANT ANNUAL REPORT
At Assurant Employee Benefi ts, voluntary premiums increased 12.1 percent last year, well in excess of the
market rate. With our robust Assurant Works administrative platform we continue to simplify the benefi ts
enrollment process to build upon our strengths. Looking ahead, the voluntary business will remain the growth
engine at Assurant Employee Benefi ts as employers shift more of the selection process and benefi t costs to
their employees.
Across Assurant we will build on the momentum and focus our efforts on specialty products and services that
require limited capital investment, generate attractive free cash fl ow and command market leadership
positions.
STRENGTHEN
As part of our ongoing efforts to strengthen our enterprise, we will continue to reallocate resources toward
targeted areas we believe will drive growth in earnings and free cash fl ow longer term. Our decision last year
to divest American Reliable Insurance Company is an example of our actions to realign capital to support our
long-term profi tability objectives.
In 2014, we continued to build capabilities in key areas such as digital and by investing in other consumer-
centric initiatives. We are commited to operational excellence throughout our enterprise.
We have reduced our corporate expenses largely due to lower benefi t and acquisition-related expenses .
Results for the year at Assurant Solutions refl ected restructuring actions that began in 2013. Assurant Specialty
Property invested in various initiatives to standardize our lender-placed platform, which will generate net
savings beginning later this year while allowing us to continue delivering high -quality customer service. At
Assurant Health, we maintained strict focus on operational discipline. Further expense actions at Assurant
Employee Benefi ts will help offset lower investment income and achieve specialty returns.
GROW
In 2015 and looking ahead, we will focus on three strategic priorities throughout Assurant :
• innovate faster around the end-consumer to generate organic growth;
• drive operational excellence to become more effi cient and deliver outstanding customer experiences; and,
• maintain our commitment to disciplined capital management.
We see great opportunities ahead as we pursue sustained outperformance for our customers, shareholders
and employees. From a solid and profi table foundation, we are building an even stronger Assurant for the
future.
Thank you for your investment in Assurant.
Alan B. Colberg
President & CEO
Assurant