Unum 2006 Annual Report Download - page 8

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Unum US is the largest of the three main businesses that comprise Unum
Group and one of the leading providers of employee benefi ts in the United
States. It is the market leader in both group and individual income protection
insurance — which provides benefi ts in the event an illness or injury impacts
an individual’s ability to work — and is one of the largest providers of
voluntary workplace benefi ts, group life and group long-term care insurance.
In addition to serving 40 percent of the Fortune 500, Unum’s customers
include thousands of small and mid-sized employers across the country.
2006 RESULTS
Unum US generated strong results in
most of its product lines last year,
including voluntary workplace benefi ts,
group life, long-term care and individual
income protection.
Additionally, the business saw steady
improvement in the profi tability of its
group income protection line. Highlights
of the year include:
° Improvement in operating income,
excluding claim reassessment charges,
led in large part by improved claims
management results and continued
disciplined pricing
° Strong persistency and renewal results
across all group product lines, voluntary
workplace benefi ts continuing its robust,
double-digit premium growth, and solid
performance in the long-term care and
individual income protection lines
° Signifi cant progress in a number of
key initiatives, including the design
and development of Simply Unum —
a platform that will transform the
way Unum builds, sells and services
its products to the small case market
— and the implementation of a lean
six sigma continuous improvement
business model
° Customer satisfaction and employee
work environment ratings that remain
at an all-time high
Unum US
“THE BENEFITS ENVIRONMENT IS RAPIDLY CHANGING. THOSE PROVIDERS
WHO RECOGNIZE THIS AND CAN RESHAPE THEIR BUSINESS STRATEGY TO
OFFER TARGETED SOLUTIONS WILL WIN IN THE MARKETPLACE. WE BELIEVE
WE ARE WELL POSITIONED TO CAPITALIZE ON THESE OPPORTUNITIES AND
EARN THE DISTINCTION OF BEING THE BENEFITS PROVIDER OF CHOICE.”
KEVIN McCARTHY | PRESIDENT, UNUM US