Assurant Insurance Company
Assurant Insurance Company
One Chase Manhattan Plaza
New York, NY 10005
Assurant is a specialty insurance company whose businesses involve a variety of products that gives peace of mind and security to its customers and clients. The company’s strategy is to provide opportunities in specialty businesses that involves a wide range of products.
The company has four main businesses which concentrated on employee benefits, health, investment solutions and property specialty products. Assurant Health provides for health insurances that are short term and target employers with only 40 employees. Assurant Employee Benefits specialize on programs that are sponsored by employers. It includes both short term and long term disability, dental insurance, accidental death insurance, dismemberment insurance. On the other hand, Assurant Solutions is responsible for underwriting, developing and marketing specialty insurance which includes service contracts and solutions for risk management. Businesses are among the lines of debt protection administration, extended service contracts, pre-need life insurance, credit insurance, and warranties. Assurant Specialty Property specializes in programs providing collateral protection, renters insurance, and creditor-placed homeowners insurance.
Assurant Solutions and IBM worked together in March 2010 to improve call center performance by developing Real-Time Analytics Matching Platform or simply called RAMP. It is an application that analizes historical data focusing on an individual caller and sets the skills of the representatives. In 2004, the company also developed a routing technology that is analytics-based which provided for the foundation of the RAMP. This helped increase the company’s revenue by 29 percent and retention sales by 37 percent.
The company set up Assurant Foundation in 1982 that focused on providing charitable grants in improving community lives. Local programs are organized yearly to support charitable organizations among the likes of Habitat For Humanity, American Red Cross, United Way and Share Our Strength.
Assurant Insurance continues to support the environmental campaigns by the incorporation of environmental considerations into sound business decisions. It continues best practices and partnerships with other corporations and environmental organizations that continuously explores programs that strengthen environmental management. One of these programs is by requiring company suppliers to practice safe forestry practices by avoiding the sourcing of paper that is taken as a result of illegal logging. The company continues to introduce energy saving mechanisms by supporting recycling projects, power management, and by providing car pool to its employees.
As part of the company’s business strategy, Assurant believes that its employees are its most valuable assets. That is the reason why the company focuses on its own professional development by providing programs, training and projects that improve working conditions because it believes that with the development of its employees comes better customer relations and client interaction is improved.
For the second quarter of 2010, the company reported a net operating income of $152.2 million with a $1.35 per diluted share a net income of $164.7 million and a $1.46 per diluted share.
The company’s board of director are John Michael Palms, PhD., D.Sc., (Hon), LHD, (Hon) (Chairman of the Board), Juan N. Cento (Director), Elaine D. Rosen (Vice Chairman), Howard L. Carver (Director), Beth L. Bronner (Director), Allen R. Freedman (Director), Robert B. Pollock (Director), Lawrence V. Jackson (Director), Charles John Koch (Director), David B. Kelso (Director), H. Carroll Mackin (Director), and John A.C. Swainson (Director).