Unum 2007 Annual Report Download - page 17

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15
Who We Are
Colonial Life is one of the nation’s leading
providers of voluntary worksite benefits –
benefits for employees and their families
that are sold through the workplace.
Voluntary benefits complement an
employer’s core benefits program and
enable employees to choose the coverage
that best meets their individual and family
needs. At the same time, voluntary benefits
allow employers to offer an expanded
benefits package to their employees with
little or no impact on the employers’
bottom line.
Since 1939, Colonial Life’s market
leadership has been built on providing
benefits solutions to meet individual
needs. Today, the company offers many
solutions in one neat package: excellence
in benefits communication, enrollment,
service, and personal insurance products
that “make benefits count” for employers
and their employees alike.
The Benefits We Offer
A broad portfolio of personal insurance
products is the price of entry into the
employee benefits market, and Colonial
Life’s are among the most competitive,
including disability, accident, life, cancer,
critical illness, hospital confinement and
limited benefit medical coverage.
But what makes the company unique
are the benefits communication and
enrollment capabilities provided to
customers through a strong national
distribution system. Colonial Life believes
working Americans deserve to understand
and appreciate the benefits they have
available to them through the workplace.
The company’s foundation is built on
establishing one-to-one relationships that
educate employers and their employees
about the benefits they have as well as
any possible gaps that may exist in their
coverage.
State-of-the-art enrollment systems and
best-in-class service after the sale are also
key components of Colonial Life’s value in
the marketplace. In 2007, for instance, the
company introduced a new enrollment
system that offers flexible, daily enrollment
reporting at no direct cost to business owners.
What’s Ahead
Rising health insurance costs, an aging workforce
and shifting workplace demographics are creating
a need for diverse benefits – and a growing
demand for voluntary products. At the same
time, there’s an emerging need for benefits
education as employers and employees struggle
to understand the choices available to them
and select the options that best meet their
individual needs.
Colonial Life will continue to expand its
communication and enrollment options to
offer businesses and their workers the
flexibility they need. Continually enhancing
customer service and refreshing the company’s
product portfolio to meet changing market
needs will also ensure that Colonial Life is
“future ready” and well-positioned to capitalize
on these opportunities.
“ The rapidly evolving benefits environment is creating opportunities
for providers who can offer a wider range of solutions for employers
and their employees. Benefits are becoming increasingly complex,
and customers need help understanding their options. Our benefits
education and enrollment capabilities, coupled with our broad portfolio
of voluntary coverage, put Colonial Life in a strong position to capitalize
on these opportunities.”
Randy Horn, President and Chief Executive Officer, Colonial Life
15