Unum 2013 Annual Report Download - page 6

4 / UNUM 2013 ANNUAL REPORT
In order to do so, we must better
educate the market on the need for
coverage, simplify our products and
services to make them more under-
standable and affordable, and do so
in a way that doesn’t compromise the
risk and financial objectives that have
been so important to our past success.
In our business, complexity is the
enemy — a concept that became even
more apparent with the confusion that
emerged around health care reform.
Consumers are already overwhelmed,
which means we have an even greater
responsibility to focus on simplicity
and to clearly highlight the value our
products represent to the financial
health of individuals and families. We
are continuing to make further invest-
ments in our consumer research and
marketing to better understand, engage
and inform consumers, and in stream-
lining and leveraging our core processes
and technologies across our three
operating businesses.
In short, there has never been a greater
need for the basic financial protections
we provide. To meet it, we must build
from the successes we’ve had in recent
years and continue to leverage our
capabilities across the entire company.
Our size and scale give us a tremendous
advantage as we look to expand the
market, and we fully intend to capitalize
on our unique position.
OUR PEOPLE AND CULTURE —
OUR GREATEST ASSETS
There’s a reason why we’ve been
able to deliver solid operating results
over an extended period of time, why
we haven’t lowered our investment
standards to stretch for yield, why we
haven’t chased underpriced business,
and why we’ve consistently been
recognized for outstanding customer
service. That reason is our people —
our nearly 10,000 employees who
care about this business and take
personal responsibility for doing
their part to ensure that we deliver
on our commitments to customers,
shareholders, regulators, communities,
and to one another.
We are reminded every day that we
work in an important and honorable
business. Last year alone, we paid
more than $6 billion in benefits to
protect the future of individuals and
their families; we helped more than
230,000 people return to work and
restore a more productive lifestyle;
and we enabled more than 25 million
individuals to take personal ownership
for their and their loved ones’ financial
protection. Throughout the company,
we take great pride in the difference
we make in the lives of millions by
protecting them when they need it
most. And we take seriously the
responsibility of maintaining the
financial strength to meet these
obligations, while also creating long-
term shareholder value.
Probably the most important thing we
can do to ensure we maintain this edge
is to continue to invest in our people —
through increased training, broadening
2009 2013
$32.32
$29.55
$26.33
$25.69
$23.20
BOOK VALUE PER
SHARE GROWTH*
*Excludes AOCI.
build from its rich history — through new
product and service offerings, through
continued enhancements to its operating
platform to better leverage its significant
scale advantage, and through maintaining
a culture where everyone takes pride in
doing the right thing to maintain the trust
and confidence of its customers.
As I mentioned earlier, our Colonial Life
subsidiary is celebrating its 75th anniversary
this year. As was the case when Edwin
Averyt and J. Clifton Judy founded the
business in 1939, what really defines a
company’s culture and brand is its people —
and that has never been more true than
today. Our nearly 10,000 people consistently
fulfill our commitments to our customers
and respect our history, but are also unafraid
to drive innovation and change to ensure
we maintain our leadership position in
our markets, take personally the responsi-
bility we have to our communities and
the environment, and, of course, do all
of this in an ethically and financially
responsible manner.
In short, throughout our entire history
we have built a tremendous legacy and
playbook to guide our future — a future
that looks both similar, and different, from
what we have seen up to now. With our
people ready and our playbook still in hand,
I’ve never been more optimistic about the
prospects for our business or more confident
in our company’s ability to build from our
past successes.