CHATTANOOGA, Tenn. (June 26, 2008) – With the addition of 23 states in June, Unum (NYSE: UNM) has expanded the availability of its next-generation benefits offering, Simply Unum, to 41 states nationwide.
The nationwide launch began in April after a highly successful pilot phase during which sales for Simply Unum were nearly 60 percent ahead of projections. To date, nearly 1,000 lines of coverage have been sold through the Simply Unum offering, and it is receiving praise from the brokerage community.
“Unum is offering a benefits program in which they are the sponsor, the administrator, the communicator and the answer place when someone has questions,” said Dave Stetler, principal at Stetler Associates in Westlake, Ohio. “That’s the thing that makes Simply Unum unique in the marketplace today – nobody else is bringing them together in a consolidated package.”
Designed specifically for small to midsize businesses, Simply Unum provides a base of group disability and life insurance coupled with voluntary benefits. With more than 28,000 product combinations possible, an employer can offer benefit options that best meet the specific needs of their workforce at a price that doesn’t strain the bottom line. It operates on a single technology platform, creating one path from benefit package design to quoting to enrollment to ongoing billing and administration.
“Across the benefits industry, the needs of small to mid-size companies are driving a focus on flexible benefits choices,” said Mike Simonds, senior vice president of product development and marketing and chief marketing officer for Unum US. “Simply Unum offers these choices in a package that provides effective education to employees, keeps plan administration simple and costs contained.”