Products
What is Colonial Life's approximate filed claim ratio (loss ratio), within 5% , for "regular" states?
~45%
True or False, state DOIs monitor loss ratios on Colonial Life products and suggest/impose corrective action?
True
What is Colonial Life's approximate expense ratio?
15-17%
Which of the following qualities is a negative risk characteristic for Critical Illness:
Higher male content is a negative case characteristic for CI
True or False, traditional group disability products offset for disability retirement income (Social Security, PERS, STRS, etc.)
True
Which products are available through Cross Brand Solutions, which are not available within the Colonial Life product portfolio?
Group Dental ; Group LTD
True or False, Colonial Life can not issue coverage to Union groups?
The answer is true ; CLA will not issue coverage to Union Groups
Within $1B, what is Unum Group's 2023 Annual Premium Income?
Approx $10B in 2023
True or False, Life insurance carriers retain claim reserves as part of their experience rating process, beyond what regulators require at the corporate product line level?
True, Waiver of Premium claims are held as future life insurance claims
Which is the largest brokerage by US brokerage revenue in 2023?
Marsh McClennan - $10B+
Which is Colonial Life's top selling product by Premium (Both inforce and sales)?
Disability (27% sales ; 24% of inforce)
Which state recently implemented a loss ratio requirement on an employee benefits product via a ballot initiative?
Massachusetts (83% DLR requirement)
Which of the following is not a primary focus of Unum's investment portfolio?
Tech Stocks and Real Estate are not major components of our investment portfolio
Which of the following factors elevates the risk of Nursing / Healthcare firms for voluntary benefits?
Employee Turnover
What is a typical rate guarantee for dental insurance?
1-2 years
Besides medical plans for large clients, which products sold by Unum / Colonial Life are most likely to be self insured?
STD and Dental
What is Unum's Risk Based Capital % at the end of Q1 2024 (within 20%)?
440% was our Q1 number
Roughly what % of Unum's revenue comes from investments?
17% (2023 = $2.1B on total revenue # of $12.4B)
Which of the following pieces of data is not required by Unum to furnish a mid-market Group product quote?
Claim reserves
Name an industry that is a target market for Colonial Life / Voluntary Benefits, but may be prohibited or special risk for Traditional Group Products?
Several answers are available, Government is a big one
Which product in the Unum Group portfolio garners the most attention from investor analysts on quarterly earnings calls?
Long Term Care
Which product line is the easiest for filing state approvals and why?
Life insurance products
Unum has two primary ways to return profits to investors, the first is via dividend payment, the second is what?
Stock repurchases
What is Unum Group's reinsurance retention limit on Life Insurance?
What licensure requirements must a broker have to sell pet insurance?
P&C