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Unum Group 
Insurance and reinsurance / Insurance
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The Unum Group is a leading provider of employee benefits and insurance products and services. It was founded in 1848 as the Union Mutual Life Insurance Company and has since grown to become a Fortune 500 company with over 10,000 employees. Unum offers a variety of insurance products, including disability, life, and accident insurance, as well as financial protection products such as dental and vision plans. The company's mission is to help people protect their income, family, and future. Unum serves customers in the United States, the United Kingdom, and other international markets. The company is headquartered in Chattanooga, Tennessee.
What is special about the company?
1. Providing employee benefits and insurance solutions: The Unum Group is a leading provider of employee benefits and insurance solutions in the United States and the United Kingdom.
2. Long-standing history: The company has a long-standing history with roots tracing back to 1848 when the first predecessor company was formed. It has been operating under its current name, Unum Group, since 1986.
3. Focusing on diversity and inclusion: Unum Group is committed to diversity and inclusion in its workforce and has received numerous awards for its efforts, including being named one of the Best Companies for Multicultural Women by Working Mother magazine.
4. Strong financial stability: With over $61 billion in total assets and consistently strong financial ratings from major credit rating agencies, the Unum Group is well-positioned for long-term success.
5. Customer-centric approach: The company is recognized for its customer-centric approach, with a strong focus on providing personalized, high-quality service to its customers.
6. Corporate social responsibility: Unum Group is committed to corporate social responsibility and is dedicated to making a positive impact in the communities where its employees live and work.
7. Embracing innovative technology: The Unum Group is constantly seeking ways to leverage technology to enhance its services and improve the customer experience.
8. Support for employees: The company offers a range of employee benefits and support programs, including training and development opportunities, wellness initiatives, and flexible work arrangements.
9. Award-winning workplace culture: Unum Group has been recognized for its positive workplace culture and has been named one of the Best Places to Work by Glassdoor.
10. Commitment to sustainability: The Unum Group has a strong commitment to sustainability and has implemented numerous initiatives to reduce its environmental footprint and promote sustainable business practices.
2. Long-standing history: The company has a long-standing history with roots tracing back to 1848 when the first predecessor company was formed. It has been operating under its current name, Unum Group, since 1986.
3. Focusing on diversity and inclusion: Unum Group is committed to diversity and inclusion in its workforce and has received numerous awards for its efforts, including being named one of the Best Companies for Multicultural Women by Working Mother magazine.
4. Strong financial stability: With over $61 billion in total assets and consistently strong financial ratings from major credit rating agencies, the Unum Group is well-positioned for long-term success.
5. Customer-centric approach: The company is recognized for its customer-centric approach, with a strong focus on providing personalized, high-quality service to its customers.
6. Corporate social responsibility: Unum Group is committed to corporate social responsibility and is dedicated to making a positive impact in the communities where its employees live and work.
7. Embracing innovative technology: The Unum Group is constantly seeking ways to leverage technology to enhance its services and improve the customer experience.
8. Support for employees: The company offers a range of employee benefits and support programs, including training and development opportunities, wellness initiatives, and flexible work arrangements.
9. Award-winning workplace culture: Unum Group has been recognized for its positive workplace culture and has been named one of the Best Places to Work by Glassdoor.
10. Commitment to sustainability: The Unum Group has a strong commitment to sustainability and has implemented numerous initiatives to reduce its environmental footprint and promote sustainable business practices.
What the company's business model?
The Unum Group is a leading provider of financial protection benefits, with a primary focus on disability, life, and supplemental health insurance. The company's business model is based on selling insurance policies and collecting premiums from individuals and businesses, and then paying out claims when a covered event, such as a disability or death, occurs.
The company operates through its core businesses of Unum US, Unum UK, Colonial Life, and Closed Block. Unum US provides disability, life, and other insurance products to businesses and individuals in the United States. Unum UK offers similar products to businesses and individuals in the United Kingdom. Colonial Life specializes in voluntary insurance products and services for the workplace, such as accident, cancer, and critical illness coverage.
Unum Group's Closed Block division manages and services legacy insurance products that are no longer actively marketed but are still in-force. This allows the company to continue collecting premiums and paying out claims on these policies while focusing on its core businesses.
In addition to selling insurance products, Unum Group also offers tools and resources to help employers and employees manage their benefits, such as online enrollment and claims processing, as well as financial education and wellness programs. This adds value to the company's offerings and helps differentiate it from its competitors.
Overall, Unum Group's business model is based on offering a range of financial protection products and services to businesses and individuals while constantly innovating and improving its offerings to meet the evolving needs of its customers.
The company operates through its core businesses of Unum US, Unum UK, Colonial Life, and Closed Block. Unum US provides disability, life, and other insurance products to businesses and individuals in the United States. Unum UK offers similar products to businesses and individuals in the United Kingdom. Colonial Life specializes in voluntary insurance products and services for the workplace, such as accident, cancer, and critical illness coverage.
Unum Group's Closed Block division manages and services legacy insurance products that are no longer actively marketed but are still in-force. This allows the company to continue collecting premiums and paying out claims on these policies while focusing on its core businesses.
In addition to selling insurance products, Unum Group also offers tools and resources to help employers and employees manage their benefits, such as online enrollment and claims processing, as well as financial education and wellness programs. This adds value to the company's offerings and helps differentiate it from its competitors.
Overall, Unum Group's business model is based on offering a range of financial protection products and services to businesses and individuals while constantly innovating and improving its offerings to meet the evolving needs of its customers.
Interesting facts about the company
1. Unum Group was originally founded in 1848 as the Union Mutual Life Insurance Company of Maine.
2. In 1989, the company rebranded as Unum and became the first disability insurer to sell policies online.
3. Unum provides disability, life, and accident insurance to more than 39 million people worldwide.
4. The company has approximately 10,000 employees and operates in several countries including the United States, United Kingdom, Ireland, and Poland.
5. Unum was the first company to offer individual disability insurance in the United States.
6. Unum ranked #299 on the Fortune 500 list in 2020.
7. In 2016, Forbes named Unum one of America’s Best Employers for Diversity.
8. Unum is committed to corporate social responsibility and has received recognition for its efforts in sustainability and community involvement.
9. The company has a strong focus on employee development and offers various training and development programs, as well as tuition assistance for employees to further their education.
10. Unum’s philanthropic arm, the Unum Foundation, provides grants and volunteer support to organizations focused on education, health, and financial stability.
11. In 2020, Unum was ranked #1 in the life and health insurance industry on the Just 100 List, which recognizes companies for their commitment to ethical and responsible business practices.
12. Unum has been recognized as a leader in diversity and inclusion, with recognition from organizations such as DiversityInc, Human Rights Campaign, and Forbes.
13. The company has a strong track record of financial stability, with consistent positive ratings from major credit ratings agencies.
14. Unum is a member of the United Nations Global Compact, a voluntary initiative to promote responsible business practices and sustainable development.
15. Unum’s subsidiary, Colonial Life, has been in operation since 1939 and has a long history of providing financial protection to American workers.
See Company Due Diligence:
2. In 1989, the company rebranded as Unum and became the first disability insurer to sell policies online.
3. Unum provides disability, life, and accident insurance to more than 39 million people worldwide.
4. The company has approximately 10,000 employees and operates in several countries including the United States, United Kingdom, Ireland, and Poland.
5. Unum was the first company to offer individual disability insurance in the United States.
6. Unum ranked #299 on the Fortune 500 list in 2020.
7. In 2016, Forbes named Unum one of America’s Best Employers for Diversity.
8. Unum is committed to corporate social responsibility and has received recognition for its efforts in sustainability and community involvement.
9. The company has a strong focus on employee development and offers various training and development programs, as well as tuition assistance for employees to further their education.
10. Unum’s philanthropic arm, the Unum Foundation, provides grants and volunteer support to organizations focused on education, health, and financial stability.
11. In 2020, Unum was ranked #1 in the life and health insurance industry on the Just 100 List, which recognizes companies for their commitment to ethical and responsible business practices.
12. Unum has been recognized as a leader in diversity and inclusion, with recognition from organizations such as DiversityInc, Human Rights Campaign, and Forbes.
13. The company has a strong track record of financial stability, with consistent positive ratings from major credit ratings agencies.
14. Unum is a member of the United Nations Global Compact, a voluntary initiative to promote responsible business practices and sustainable development.
15. Unum’s subsidiary, Colonial Life, has been in operation since 1939 and has a long history of providing financial protection to American workers.
See Company Due Diligence:
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