Unum Phone Number: The American insurance provider Unum Group is based in Chattanooga, Tennessee. Originally founded as Union Mutual in 1848, it changed its name to UnumProvident in 1999. The company is featured in the Fortune 500. Four separate companies comprise the Unum Group. The Provident Companies and Unum Corporation, which included Colonial Life, Unum US, Unum UK, and Unum Poland, merged to form it in 1999. Paul Revere Life Insurance Company and Provident Life and Accident Insurance Company are two of its underwriting insurers.
| Name | Unum Phone Number |
| Founded | 1848 |
| Phone Number | 800-2758-686 |
| Email Address | login now to view the detail |
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| Official Website | Click here to visit |
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Contents
History
The founding of Union Mutual and the introduction of its first life insurance product in 1848 marked the beginning of Unum. The company went on to invent several insurance products. And in 1864 it became the first in the United States to reinsure another company’s business.
Over the 20th century, the company experienced substantial expansion and several name changes until deciding to adopt the Unum moniker in 1986. With several mergers and acquisitions, the company has expanded its range of products and services. Notable mergers with renowned insurance companies Provident and Colonial Life occurred in 1999 and 1993, respectively.
Currently, Unum is one of the top insurance companies in the US and operates a sizable business in the UK. The company is placed 279th in the Fortune 500. With a current market capitalization of $9.99 billion. It also trades a portion of its shares on the New York Stock Exchange.
Unum Group (UNM) Mission Statement
In both the US and the UK, Unum Group is a top supplier of benefits for financial protection. The company is fully committed to achieving its objective, which is:
“To help individuals and their families through difficult times by providing financial protection benefits and superior customer service.”
Everyone should have access to financial security, according to Unum Group, especially in difficult and unforeseen circumstances. To help customers safeguard their assets and income and free up time for rehabilitation and peace of mind, they provide a variety of insurance solutions.
The following are priorities for Unum Group to fulfill its mission:
- Customer-centered strategy: Unum Group prioritizes the needs and happiness of its customers in all that it does.
- Innovation: The business is constantly looking for fresh and improved approaches to assist clients in safeguarding their financial security.
- Employee development: Unum Group is committed to providing its workers with the tools and resources they need to provide the best customer service and support possible.
The mission statement of Unum Group reflects the company’s unwavering focus on providing financial security advantages that support individuals and families throughout difficult times. To be a dependable and trustworthy partner in financial protection. Unum Group prioritizes personnel development and innovation while placing a high value on client satisfaction.
The Workings of Unum Group (UNM)
With more than 165 years of experience in the financial protection benefits business, Unum Group is a top provider in both the US and the UK. Three business segments comprise the company’s operations:
- Unum US: Offers critical sickness, disability, life, and accident insurance to individuals and groups in the US.
- Unum UK: Offers corporate pension plans, individual protection packages, and group risk benefits to businesses and individuals in the UK.
- Colonial Life: Offers employees in the US voluntarily benefits.
The primary goal of the organization is to shield people and families financially in difficult times. This includes offering life insurance to support loved ones financially in the event of death, accident insurance to assist in covering unforeseen medical costs, and short- and long-term disability insurance to replace lost income due to illness or injury.
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Unum Group’s (UNM) owner?
Unum Group offers insurance coverage for critical sickness, disability, life, and accident. Originally known as the Union Mutual Life Insurance Company. The company was founded in 1848 and is based in Chattanooga, Tennessee.
Under the ticker UNM, Unum Group is available for public trading on the New York Stock Exchange (NYSE) as of 2021. This demonstrates that the company’s owners are its shareholders, who also have the authority to determine the relative importance of business decisions and to allocate gains from rising stock prices and dividends.
The top ten institutional holders of Unum Group stock as of December 31, 2020. According to the company’s most recent Annual Report, were:
- Group Vanguard, Inc.
- The State Street Corporation, BlackRock, Inc.
- Wellington Management Group, L.P.
- Trustelity Management & Research Company LLC / T. Rowe Price Associates, Inc.
- Geode Capital Management, LLC The Capital Group Companies, Inc.
- The Bernstein L.P. alliance of Invesco Ltd.
These institutional investors, who own shares of the Unum Group, include a varied mix of asset management companies, mutual funds, and pension funds.
It’s important to remember that shares of Unum Group are also held by individual individuals through brokerage accounts or other investment vehicles. However, compared to institutional investors, these private investors usually own a lesser portion of the business.
How Money Is Made at Unum Group (UNM)
In the US and the UK, Unum Group is a top supplier of life insurance, disability insurance, and other benefits for workers. The business generates income from several sources.
- Insurance premiums: Unum Group’s main source of income is from insurance premiums. Policyholders pay premiums to the company in return for protection against potential risks. The kind of coverage, the insured’s age and health, and the extent of benefits offered are some of the variables that go into determining these premiums.
- Income from investments: Unum Group makes money by investing in the premiums it receives. The corporation has a variety of assets in its investment portfolio, including bonds, equities, and real estate. The money received from these investments goes towards the total revenue of the business.
- Additional revenue: Unum Group receives revenue from its retirement plan products as well as fees for administrative services. Although it usually makes up a lesser percentage of the business’s total revenue, this income offers a variety of revenue sources.
The foundation of Unum Group’s business strategy is its capacity to precisely evaluate and control risk. The business assesses the possibility of future claims using actuarial analysis and adjusts premiums appropriately. Additionally, Unum Group makes investments in risk management techniques to lessen the possible effects of significant claims.
Unum Group has recently entered new markets, such as voluntary benefits and leave management, in addition to its usual insurance products. For the business, these new goods and services present more chances for income.
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