Assurant 2015 Annual Report Download - page 4

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2 | 2015 Assurant Annual Report
A MESSAGE TO OUR SHAREHOLDERS
HOUSING & LIFESTYLE SPECIALTY PROTECTION
We are focused on two key markets – housing and lifestyle specialty protection. We see great opportunities
to provide specialty protection for where people live and the goods they buy. Today, about 40 percent of our
revenues are from the housing market, with the balance of revenues coming from our lifestyle offerings.
HOUSING
In the housing market, we are taking many actions
to grow our leadership position. We already work
with nine of the top 10 mortgage originators. In
2015, we monitored more than 33 million mortgages
nationwide and processed close to 100 million
transactions. We also made signicant progress
transforming our lender-placed platform as that
business normalizes. These efforts will help us
maintain strong customer service levels and our
leadership position while we also generate savings in
2016 and beyond.
We are leveraging our deep industry expertise and
capabilities to increase revenue and protability in
areas we have targeted for growth. Revenue from
our Multi-family Housing business increased
22 percent in 2015 and accounted for
$280 million dollars of premiums and fees. We
increased our share of wallet with afnity partners
and added several new national property manager
relationships.
Similarly, our Mortgage Solutions business captured
share and generated nearly $290 million of fee
income for the year. Currently, we provide valuation
or property preservation services to seven of the top
10 servicers and many of the top mortgage
originators. We believe there are signicant
opportunities to cross-sell additional offerings and
grow with existing and new clients.
LIFESTYLE
Three global business lines are focused on lifestyle
specialty protection – Connected Living, Vehicle
Protection and Pre-funded funeral insurance. We
align with global market leaders in multiple
distribution channels as we work with large
distributors, mobile carriers as well as online
retailers. In 2015, we integrated our global business
lines and moved away from operating separately in
each country we serve. Now we take a global view to
deploy resources in support of the best opportunities
worldwide.
In 2015, we continued to strengthen our competitive
position in the mobile industry where we now protect
more than 29 million devices worldwide. Our logistics
and repair facilities in the United States processed
more than 8 million mobile devices that help people
stay connected.
We also provide protection products and services in
North and South America for 10 million vehicles. We
offer protection against mechanical breakdown or
failure and to safeguard against unexpected and
costly repairs once manufacturer warranties expire.
In 2015, we passed the $1 billion mark in vehicle
protection gross written premiums and delivered
record protability.
With two million contracts in force, our Pre-funded
funeral coverage offers peace of mind. Our long-term
partnership with Service Corporation International
aligns us with a market leader and offers a strong
base as demographic trends for future growth
indicate broader interest among baby boomers.