1) The Hartford
Location: Hartford, Conn.
Sales premium LTD/STD: $121.8/$78
Market share LTD/STD: 13.3%/19.4%
General broker contact: Rick Guerrini, VP of distribution development, group benefits division, 860-843-4605; Richard.Guerrini@hartfordlife.com
Disability sales director: Bob Reiff, senior VP, distribution and field service, group benefits division, The Hartford, 860-843-1994, Robert.Reiff@hartfordlife.com
Group sizes served: 4+ lives, up to employers that have 50,000+ lives.
Products available: The Hartford offers group life insurance, supplemental life insurance, accidental death and dismemberment insurance, short and long-term disability insurance, statutory plans, Family Medical Leave (FML) administration, as well as a group retiree health offering.
States available: All U.S. states
Sweet spot: The Hartford, a leading provider of group life and disability insurance, is focused on expanding its presence in the public and education sector, providing government entities and educational institutions with group life and disability insurance, retiree health insurance, and Family Medical Leave (FML) administration.
What you do better than the rest: The Hartford's claims management expertise and superior underwriting and risk management capabilities make it a market leader.
What brokers love about you: Producers love the local sales and service support that they receive from The Hartford. The Hartford has more than 30 sales and service offices throughout the U.S. with local representation that understands the market dynamics of that specific area. The local presence also provides an opportunity to develop more intimate relationships with customers.
One tip for brokers in 2008: Producers can best serve their employer clients when they have a clear understanding of insurance carriers' contracts and services. When they understand the competencies of each carrier, producers can move away from making recommendations based solely on price and direct their client to the best solution based on their specific needs.
Your best rep: The Hartford looks for these competencies when searching for successful sales representative candidates — initiative, achievement drive, self confidence, interpersonal skill, influence and persuasion, and resilience.
2) Unum
Location: Chattanooga, Tenn.
Sales premium LTD/STD: $101.7/$41.6
Market share LTD/STD: 11.1%/10.3%
General broker contact: 37 field offices across the US —www.unum.com/contactus/locator.aspx
Group sizes served: 2+ lives & up
Products available: Group short and long term disability, self insured, group life, group long term care, individual and voluntary (disability, life, accident, critical illness, cancer, supplemental health) products
States available: All U.S. states
Sweet spot: As one of the world's leading benefit providers, Unum helps protect more than 25 million working people and their families in the event of illness or injury. We complement our leadership and expertise in disability insurance and employee benefits with outstanding education and enrollment services and excellent, local customer service.
What you do better than the rest: Unum delivers intelligent, forward-thinking benefit programs to prepare businesses — and their employees — for the future. Our benefit programs can help businesses attract and retain quality people, reduce the cost of absenteeism and return employees to work after an illness or injury — creating a more satisfied and productive workforce. We show companies how to get the most from their benefit programs, helping them to build a stronger workforce — and ultimately, a stronger business.
What brokers love about you: Integrated benefit solutions, ease of doing business and quality of sales and service reps.
One tip for brokers in 2008: Today's economy is forcing employers to do more with less. Employers may be putting new limits on benefit programs because of escalating medication expenses, but this may threaten their ability to recruit and retain the qualified workforce they need to succeed. Unum is a great partner in these times — specializing in helping to protect the financial security of employees while supporting business efforts to manage benefits, costs and productivity.
3) Cigna
Location: Philadelphia, Pa.
Sales premium LTD/STD: $93.7/$23.2
Market share LTD/STD: 10.2%/5.8%
General broker contact: group@cigna.com, 215.761.1000
Disability sales director: Jim Jacobsen, jim.jacobsen@cigna.com
Group sizes served: Large Market (5,000+ employees), Middle Market (200-5,000 employees), Small Market (50 - 200 employees)
Products available: Insured short-term disability, mid-term, and long-term disability (both employer and employee paid); short-term administrative services only with insured long-term disability; short-term disability advice to pay with insured long-term disability
States available: All U.S. states
Sweet spot: Cigna has industry-leading disability management solutions. Our Cigna Disability & HealthCare ConnectSM integrates resources from all of our offerings including medical, behavioral health, vocational rehabilitation, case management and disease management.
What you do better than the rest: Utilizing expertise across the enterprise, we encourage early claim notification and follow up with proactive outreach, which enables us to more quickly resolve claims and get people back to productive work.
What brokers love about you: Our best-in-class disability claims management model
One tip for brokers in 2008: Integration of medical and disability insurance can be very valuable to employers as they have an opportunity to increase productivity and reduce absenteeism while providing their employees with a more comprehensive health benefits package.
4) MetLife
Location: New York, N.Y.
Sales premium LTD/STD: $84.4/$31.6
Market share LTD/STD: 9.2%/7.9%
General broker contact: James McConville, 908-253-1386, jmcconville@metlife.com
Group sizes served:2 employees and up
Products available: STD, LTD, FML/Total Absence Management
States available:50 states availability (some state variations apply)
Sweet spot: Disability Market Leader with strength in serving large employee populations.
What you do better than the rest: Understand risk and provide a best in class service model and contract that promotes return to work when appropriate. Work in consultative way to customize solutions for employers.
What brokers love about you: Our consultative and collaborative approach to bring solutions to their clients as well as our consistent delivery on commitments.
One tip for brokers in 2008: Mega-trends, such as rising health care costs; a diverse, aging workforce; and individuals facing additional financial responsibilities for their health and retirement decisions, are making disability insurance protection more important than ever. It's important to assess the overall value of a disability program and how the claims are serviced. Brokers should take advantage of services carriers offer to increase consultative opportunities with their clients and help drive improved productivity and lower overall costs.
5) Standard Insurance Company
Location: Portland, Ore.
Sales premium LTD/STD: $77.8/$16.7
Market share LTD/STD: 8.5%/4.2%
General broker contact: Contact your local sales & service office at 800-633-8575
Group sizes served: 2+
Products available: STD, LTD, others
States available: All except N.Y. In N.Y. disability insurance products are offered by The Standard Life Insurance Co. of New York, headquartered in White Plains, NY.
Sweet spot: We offer quality products and services to groups of all sizes.
What brokers love about you: We aim to offer long term stability through consistent pricing. And we support our products with expert claim handling from highly-trained, empathetic employees and local service representatives in more than 40 cities across the nation.
6) Aetna
Location: Hartford, Conn.
Sales premium LTD/STD: $72.4/$26.4
Market share LTD/STD: 7.9%/6.5%
General broker contact: John Miskel, III, National Accounts Sales, 954-693-2790, MiskelIIIJ@Aetna.com, Steve Valenti, Middle Market Sales, 513-232-8500, ValentiS@Aetna.com
Group sizes served: Aetna Disability and Absence Management provides products and services to groups with a minimum of 50 lives up to jumbo national accounts.
Products available: We offer STD, LTD, Integrated Health & Disability (IHD) and absence management including FMLA administration. All products are available as self-funded or fully insured. They can be sold stand alone, or in any combination.
States available: Aetna provides disability and absence management in all states except New Mexico. We offer statutory plans in New York, New Jersey, California and Hawaii. We also provide supplemental Aetna STD and LTD plans in California.
Sweet spot: While Aetna has experience administering disability and absence management benefits for all size groups in many industries, our general book of business is within the 1,000-15,000 life groups in banking, telemarking and technology and aerospace industries.
What you do better than the rest: Aetna specializes in providing integrated absence management as well as customized processes and workflows for large, national account customers. Our flexible and easy-to-use disability and leave management products and services can fit any type of business and provide the absence management services customers require. Our sophisticated WorkAbility Claim Management system provides an integrated solution for managing short- and long-term disabilities and other employee absence programs, including FMLA.
What brokers love about you: Aetna is a fair, responsive collaborator with brokers. We understand the nature of their business and work with them to accomplish a mutual goal of selling new business and retaining existing business. Additionally, we will work with brokers to develop and provide a variety of continuing education opportunities to better enhance understanding of products and services and maintain a strong presence in the market place.
One tip for brokers in 2008: In today's benefit market, employers are required to make difficult choices about how to structure their benefits. Aetna recommends submitting quote requests early so that there is ample time to fully communicate with clients about Aetna's wide variety of absence management products, Integrated Health and Disability process, integrated absence management and FMLA administration and how all of these products and services together can truly benefit employers and their employees.
7) Prudential
Location: Newark N.J.
Sales premium LTD/STD: $67.9/$25
Market share LTD/STD: 7.4%/6.2%
General broker contact: Under 15,000 lives: John Delorenzo, john.delorenzo@prudential.com, (904) 313-1536; 15,000 and above, Mike Prochno —mike.prochno@prudential.com, (763)-553-8750
Disability sales director: John Wolff - john.wolff@prudential.com/(952) 934-1616
Group sizes served: 25 lives and up
Products available: STD, LTD, Leave Management
States available: All U.S. states
Sweet spot: Traditionally a large market player, Prudential is re-focusing on the under 1,000 market in 2008.
What you do better than the rest: Very strong disability claim management capabilities with unique capacity focused process. Leading edge critical illness rider. One of the few carriers that will write stoploss coverage over an ASO LTD plan.
What brokers love about you: Our excellent customer service, flexibility and ability to customize.
One tip for brokers in 2008: Prudential is redrafting its disability story. The new plot will "leave" a lasting impression; contact your local Prudential Group Insurance Rep to learn more.
Your best rep: Brian Roth, works from Roseland, New Jersey and services the Northeast region. Outstanding service to his producers, extensive product knowledge, and his general love of the business are just a few reasons Prudential nominated Brian Roth for EBA's 2008 best disability rep contest.
8) Sun Life Financial
Location: Wellesley Hills, Mass.Sales premium LTD/STD: $59.7/$29.5
Market share LTD/STD: 6.5%/7.4%
General broker contact: 1-800-247-6875
Disability sales director: Drew Niziak, VP, Distribution, drew.niziak@sunlife.com
Group sizes served: 2- 25,000+
States available: All U.S. states
Sweet spot: Small to mid-size businesses, both professional and blue collar groups. Plus, the physician market with our MGIS partnership.
What you do better than the rest: Turnaround STD claims quickly and accurately, expertly manage LTD claims, and make things easy for Benefits Administrators
What brokers love about you: Industry expertise and money-back service guarantees.
One tip for brokers in 2008: Look to expand disability marketing to uninsured population through a combination of voluntary products or traditional employer-sponsored plans with cost-conscious plan designs.
Your best rep: Those that are successful in cross-selling all of our products by combining expert knowledge and personalized service with competitively priced benefit offerings.
9) Reliance Standard
Location: Philadelphia, Pa. Sales premium LTD/STD: $50.9/$15.7
Market share LTD/STD: 5.6%/3.9%
General broker contact: David Gittelman, Director of Marketing; (800) 351-7500 ext 3741, David.gittelman@rsli.com
Disability sales director: Christopher A. Fazzini, Senior Vice President, Sales and Marketing; Chris.fazzini@rsli.com
Group sizes served: 2+
Products available: STD, LTD, ASO/absence management; small group STD/LTD (2-19 lives); voluntary STD/LTD; RSL LeaveManager FMLA Administration
States available: All (In N.Y., First RSLI)
Sweet spot: 100-499 life cases. Industry leading integrated Absence Solutions large case offering in conjunction with subsidiary Matrix Absence Management, Inc. in San Jose.
What you do better than the rest: Consistent feedback from brokers confirms our LTD contract is one of the best in the industry, but it is our service that distinguishes us: superior feedback, consultation, flexibility and reliability from our sales force, as well as a reengineered field-based national service organization.
What brokers love about you: We are proud that, according to the 2007 Producer Connect survey conducted by JHA, Inc., brokers rank Reliance Standard #1 in the nation among carriers in Overall Experience Working With Sales Representative in the below-500 life segment.
One tip for brokers in 2008: Proactively seek value and solutions (both cost savings and enhanced services) incremental to the standard product offerings in an RFP. Successful employers seek neither expenses nor savings, but rather outcomes. And while rates may generate sales, solutions deepen and perpetuate the relationships on which business is built.
Your best rep: Casey J. Meyer, Chicago, was our Sales Representative of the Year 2006. (2007 has not been counted/named as yet, obviously!)
10) Lincoln Financial Group
Location: Philadelphia, Pa.; Group Protection Operations, Omaha, Neb.
Sales premium LTD/STD: $32.7/$20.8
Market share LTD/STD: 3.6%/5.2%
Disability sales director: Bob Risk, National Sales Director, Group Protection, Lincoln Financial Group; robert.risk@lfg.com
Group sizes served: 10+
Products available: Life, accidental death and ddismemberment, short- and long-term disability, and dental insurance
States available: All U.S. states
Sweet spot: 50-500 + lives
What you do better than the rest: Lincoln Financial Group offers exceptional service and a variety of non-medical group insurance solutions including life and AD&D, short- and long-term disability, and dental insurance along with value-added services such as employee assistance programs.
What brokers love about you: Our flexible plans offer employers bundled solutions, a selection of contract features and voluntary coverage that can be tailored to best suit the needs of employees.
11) Principal Financial Group
Location: Des Moines, Iowa
Sales premium LTD/STD: $22.4/$14.5
Market share LTD/STD: 2.5%/3.6%
General broker contact: Local Principal Financial Group sales representative
Disability sales director: Jenifer Moses, Moses.Jenifer@principal.com
Group sizes served: 3 to 10,000 members
Products available: Group short-term disability, group long-term disability, group voluntary long-term and short-term disability, self-funded and advice to pay short-term disability
States available: All 50 states
Sweet spot: Groups with less than 100 employees.
What you do better than the rest: Claim handling and return-to-work services.
What brokers love about you: Ongoing service to the customer before and after the sale.
Your best rep: The entire sales team.
12) Assurant Employee Benefits
Location: Kansas City, Mo.
Sales premium LTD/STD: $20.7/$12.3
Market share LTD/STD: 2.3%/3.1%
General broker contact: Contact varies depending on need
Disability sales director: Marc Warrington, SVP Sales, 816.474.2873; marc.warrington@assurant.com
Group sizes served: All sizes, but our primary focus is on employers groups of 10 to 500 lives.
Products available: Group STD and LTD, available on both an employer-paid and employee-paid basis.
States available: All U.S. states
Sweet spot: 10 to 500 life employer groups. Assurant Employee Benefits offers a disability product that is available to higher-risk, hard-to-place industries, including transportation and construction.
What you do better than the rest: Assurant Employee Benefits provides outstanding service, customization options and product education to small businesses.
What brokers love about you: Brokers love our knowledge and responsiveness. And, believe it or not, we care about our brokers' complete growth as agencies and not just in our product lines. If you don't believe that, just call us!
One tip for brokers in 2008: There are only 252 days of selling in 2008. Assurant Employee Benefits is here to help you take advantage of that limited time.
Your best rep: We can't answer that!
14) Mutual of Omaha
Location: Omaha, Neb.
Sales premium LTD/STD: $20.2/$15
Market share LTD/STD: 2.2%/3.7%
Note: Mutual will pass on the carrier source survey for EBA.
15) The Guardian
Location: New York, NY
Sales premium LTD/STD: $18.8/$13
Market share LTD/STD: 2.1%/3.3%
Group sizes served: 2+
Products available: STD & LTD
States available: All
Sweet spot: 2-1,000 lives
What you do better than the rest: Guardian excels in handling the employee benefits needs of small- to mid-size companies. Through a full portfolio of products, including disability, dental, vision, life and medical coverage, we offer the flexibility to customize plan designs, maximize choice and minimize cost.
One tip for brokers in 2008: Not all disability contracts are the same. In creating a disability plan to meet a client's needs, the monthly benefit and duration of benefits are only the beginning. Ask about other key provisions, as they can differ greatly in language and execution from carrier to carrier.
18) Wellpoint
Location: Indianapolis, Ind.
Sales premium LTD/STD: $6.5/$2.8
Market share LTD/STD: 0.7%/0.7%
Note: As a company, WellPoint does not participate in surveys of any kind.
19) Fort Dearborn Life
Location: Downers Grove, Ill.
Sales premium LTD/STD: $5.8/$8.6
Market share LTD/STD: 0.6%/2.1%
General broker contact: Sales and marketing number is 1-800-331-0512
Disability sales director: Chief Marketing Officer is Brad Gary.
Group sizes served: All sizes
Products available: Employer paid and voluntary STD and LTD as well as group life and dental products
States available: All states except N.Y.
Sweet spot: We focus on groups in the 10-300 life market for LTD and 10-5,000 life market for STD. We are competitive in all industry segments, but we focus on blue and gray collar risks, 60% plan designs and monthly benefits in the $6,000 to $10,000 range.
What you do better than the rest: We focus on three core strengths: financial strength (A+ from A.M. Best and S&P), competitive pricing and plans, and deep relationships with producers.
What brokers love about you: Easy to do business with and working with our reps who have deep marketplace knowledge.
One tip for brokers in 2008: Work with fewer carriers and develop deeper relationships with them so they will better understand and work with your agency's strategy.
Your best rep: We have many good reps, but our best are well rounded and focus on deep relationships with producers, work well with internal partners and maintain a high degree of sales success.
20) Northwestern Mutual
Location: Milwaukee, Wisc.
Sales premium LTD/STD: $4.9/$0.9
Market share LTD/STD: 0.5%/0.2%
Note: Northwestern Mutual does not broker its products and therefore would not be appropriate to include.
22) American United Life (a OneAmerica company)
Location: Indianapolis, Ind.
Sales premium LTD/STD: $1.5/$1.7
Market share LTD/STD: 0.2%/0.4%
General broker contact: Kurtis Meyer, 317.285.4111, kurt.meyer@oneamerica.com
Disability sales director: Tim Staggs, regional VP, group sales, Tim.Staggs@oneamerica.com
Group sizes served: 10+
Products available: Group life, short-and long-term disability and voluntary life
States available: All states but N.Y.
Sweet spot: 50 to 1,000
What you do better than the rest: We compete on a value proposition that leads with voluntary and focuses on our ability to design, implement and maintain complete ancillary benefit solutions for employees, employers and brokers.
What brokers love about you: Voluntary group insurance products and services, responsiveness, certified account managers, continuing education programs and knowledgeable experienced sales representatives.
Your best rep: Eric Pete and Michael Chase generated highest premium sales in 2007.
23) Harleysville Life
Location: Harleysville, Pa.
Sales premium LTD/STD: $0.7/$1.1
Market share LTD/STD: 0.1%/0.3%
General broker contact: Susan Reinhard, VP of Group Business Development; sreinhard@harleysvillegroup.com
Disability sales director: William Tevlin, VP of Sales; wtevlin@harleysvillegroup.com
Group sizes served: 2-2,000
Products available: Group short-term and long-term disability
States available: Ala., Ariz., Ark., Del., D.C., Ga., Ill., Ind., Iowa, Md., Mass., Mich., Minn., Neb., N.H., N.J., N.M., N.C., Ohio, Pa., R.I., S.C., Tenn., Texas, Utah., Va. W.Va., Wisc.
Sweet spot: 2-250 lives
What you do better than the rest: Underwriting and administration flexibility, developing long-term relationships with agents and brokers.
What brokers love about you: Service responsiveness and access to staff.
One tip for brokers in 2008: Small Business owners are pleasantly surprised to see how affordable Group DI can be. Most think that since medical insurance is so expensive, that DI would be more prohibitive.
Your best rep: Allen Steere, of Eastern Pennsylvania.
24) Shenandoah Life
Location: Roanoke, Va.
Sales premium LTD/STD: $0.7/$0.7
Market share LTD/STD: 0.1%/0.2%
General broker contact: Doug Hayes, (800) 848-5433 ext. 4449, doug.hayes@shenlife.com
Group sizes served: 2+
Products available: LTD, STD
States available: Texas, La., Miss., Ala., Ga., Fla., S.C., N.C., Va., W.Va, Pa., Ohio, Ind., Ill., Mich., Wis., Ky., Tenn., Mo., Okla., Kan., Iowa, Neb., Minn., Md.
Sweet spot: 2-200 lives
What you do better than the rest: LTD — Excellent contract incentives and beneficial return to work; STD — Star Assist Program
What brokers love about you: We understand small business and we provide excellent customer service that improves a broker's ROI on the customer. Our size enables us to be more amiable than the larger carriers.
One tip for brokers in 2008: Talk to every client about the need for disability and encourage the client to purchase a disability product.
25) Kansas City Life
Location: Kansas City, Mo.
Sales premium LTD/STD: $0.5/$0.3
Market share LTD/STD: 0.1%/0.1%
Note: We are not participating.
26) Companion Life
Location: Columbia, S.C.
Sales premium LTD/STD: $0.3/$1.2
Market share LTD/STD: 0.04%/0.3%
General broker contact: Contact one of our marketing associates at 800-753-0404, send RFPs to proposals@companiongroup.com.
Group sizes served: 2 or more employees.
Products available: STD, LTD, voluntary STD, Voluntary LTD
States available: Most states except Calif., Conn., Hawaii, N.Y., and N.J.
What you do better than the rest: Voluntary STD offers GI to $750/wk with a minimum participation of 5 employees
What brokers love about you: Work directly with our underwriters, Leaders
Conference qualification.
One tip for brokers in 2008: Ask for the opportunity to show Life, disability and vision products and don't leave money on the table.
Your best rep: We don't have reps. Instead we work through general agents.
27) Allstate Insurance Company
Location: Northbrook, Ill.
Sales premium LTD/STD: $0.1/$1.5
Market share LTD/STD: 0.02%/0.4%
Note: Thank you for extending this offer to Allstate Insurance Company. Unfortunately we will not be participating in the survey. Allstate Insurance Company does not sell or manufacture traditional disability products so we would not have anything to list.
28) Symetra Life
Location: Bellevue, Wash.
Sales premium LTD/STD: $0.1/$0.4
Market share LTD/STD: 0.02%/0.1%
General broker contact: For general questions call 1-800-426-7784 or email us at grplif@symetra.com
Group sizes served: Minimum 10 lives
Products available: Long-Term Disability income insurance (LTD): Offered to groups with minimum life coverage and 10 lives. Core (buy-up) long-term disability income insurance: Offered to groups with 25 or more eligible employees. Minimum participation is the greater of 25 percent of employees or 10 lives. Short-term disability income insurance (STD): Offered to groups with minimum life coverage and 10 or more employees. If contributory, must have 75% participation. Voluntary short-term disability income insurance (VSTD): Offered to groups with a minimum of 15% participation or 10 lives.
States available: All states except N.Y.
Sweet spot: Educational services, museums, botanical, zoological gardens, membership organizations, engineering, architectural and management services, legal services; other categories: cases under 100 lives, cases with greater than 80% office professionals.
What you do better than the rest: We approach each broker and their clients with individual attention and the highest quality customer service. Our partnership with our brokers is visible throughout the company as part of our core business practice.
What brokers love about you: Our brokers enjoy personalized attention from their Regional Group Manager and benefit from the RGM's commitment to helping our independent producers build their business and service their clients.
One tip for brokers in 2008: Remember it's not always about the lowest price. Quality customer service speaks greater volumes and will help keep business on the books year after year.
Your best rep: It's impossible to pick just one. All our reps are outstanding.
30) Trustmark Voluntary Benefit Solutions
Location: Lake Forest, Ill.
Sales premium LTD/STD: Not reported/$0.05
Market share LTD/STD: Not reported/0.01%
General broker contact: 800-840-4692
Group sizes served: Trustmark serves groups sizes 50 and above.
Products available: Trustmark's disability products are group and individual short term disability.
States available: All 50 states
Sweet spot: Trustmark's target size for disability products is 50+ lives. Trustmark's target disability industries are hospitals, schools, manufacturing, municipalities and wholesale trade.
What you do better than the rest: Brokers can expect effective and responsive delivery of products and services from Trustmark Voluntary Benefit Solutions. Professional enrollment, comprehensive case management and consolidated internet billing are cornerstones of our success.
What brokers love about you: Brokers love that Trustmark is a flexible, service-driven organization committed to providing quality voluntary benefits. Trustmark Voluntary Benefit Solutions provides efficient product and service delivery backed by 90 years serving the voluntary market and validated quarterly by our Service Report Card.
One tip for brokers in 2008: Listen to your clients needs.
[Editor's note: While we invited the 30 carriers JHA surveyed (and says comprise about 95% of the market) to participate, several declined or did not respond to any of our requests. Also, carriers we're listed according to LTD sales premium as indicated in JHA's mid-year 2007 report. Each carrier was asked to respond to the same questions, yet only a handful elected to do so. Carriers who did not respond were ING Employee Benefits (no. 13 on JHA's mid-year 2007 survey according to LTD sales premium), Liberty Mutual (no. 16), Unimerica Workplace Benefits (no. 17), AIG Benefit Solutions (no. 21) and CUNA Mutual (no. 29). As previously reported in this magazine, SunLife acquired the group benefits operations of AIG in 2007. For more information or for questions and comments, please email robert.whiddon@sourcemedia.com.
