SECURIAN FINANCIAL | September 30, 2022
To provide greater assistance to employees growing their families, Securian Financial in a first among insurance carriers is adding “BenefitBump” as a value-added service. The BenefitBump service can be used with Securian Financial’s group hospital indemnity insurance issued by Securian Life Insurance Company.
BenefitBump improves outcomes for both employers and employees by helping growing families navigate their employers’ benefits and time off programs to build plans for balancing work and life. The program was designed for all paths to parenthood, including childbirth, adoption and families seeking fertility support. Participants are provided with education tools and live support from licensed emotional health clinicians.
“Employees expecting a new child are often overwhelmed with information and unaware of all the benefits available to them through their employers, BenefitBump’s trained care navigators are experts in workplace benefit programs for expecting parents. They guide parents through the journey of growing their families from pre-birth planning to post-birth childcare while ensuring that they are maximizing their available benefits. For employers, this can be a powerful tool for retention, especially of working mothers.”
-Darin Reeser, regional director of supplemental health benefit sales for Securian Financial
According to ongoing BenefitBump participant survey responses, 66% of participants say the service reduces stress and anxiety and 83% say it increases benefit awareness and utilization. In addition, a 2021 study of program participants found that 98% successfully returned to work.
Group hospital indemnity insurance is a workplace supplemental health policy that pays a pre-determined benefit to insured employees who experience a hospital stay covered by the policy. Employees can use the benefit to pay for out-of-pocket expenses not covered by their major medical insurance, or however they wish. With Securian Financial, insured employees do not have to experience a hospital stay to use BenefitBump. In fact, according to BenefitBump, since the service’s inception, nearly one-fifth of participants have engaged the service while family planning.
Workplace supplemental health benefits on the rise
According to a study conducted by benefits broker WTW, more employers are turning to supplemental health benefits to help protect employees from big medical bills and loss of income. The study, conducted between February 23 and March 12, 2021, found that among 238 organizations employing 3.7 million people, 42% offered group hospital indemnity insurance and 57% offered group critical illness insurance. By 2022, 65% of the organizations said they would offer hospital indemnity insurance to their employees, and 76% said they would offer critical illness insurance.
Additionally, LIMRA, a life insurance researcher and trade organization, reported recently that workplace supplemental health benefit premium rose 6% in 2021, to nearly $2.6 billion.
A group insurance leader
Securian Financial offers group life, accidental death and dismemberment (AD&D) and supplemental health insurance products to employers nationwide. The company specializes in large public and private employer plans with 1,000 or more participants. Since issuing its first group life insurance policy in 1917, Securian Financial through its subsidiaries, Minnesota Life Insurance Company and Securian Life Insurance Company has grown to become the third-largest direct writer of group life insurance in the United States. The company is the top provider of group life insurance to state governments, 16, and has an extensive list of Fortune 500 employer clients, including 18 of the Fortune 100.
ABOUT SECURIAN FINANCIAL
At Securian Financial, we’re here for family. And we’re here because of it. We’re guided by our purpose: helping customers build secure tomorrows. Since 1880, we’ve been building a uniquely diversified company that has outlasted economic ups and downs while staying true to our customers. We’re committed to the markets we serve, providing insurance, investment and retirement solutions that give families the confidence to focus on what’s truly valuable: banking memories with those who matter most.
Riskonnect | September 17, 2022
Riskonnect, the leader in integrated risk management (IRM) solutions, today announced it has been named in Business Insurance’s annual Best Places to Work in Insurance program, which recognizes employers for their outstanding performance in establishing workplaces where employees can thrive, enjoy their work, and help their companies grow.
“It’s a huge honor to be recognized once again as one of the Best Places to Work in Insurance. The accolade is a testament to our team’s dedication to creating an incredible and empowering work environment at Riskonnect, Every day we aim to foster a positive culture where our team is inspired, encouraged, and poised to deliver the best service to customers and help them manage risk under one roof.”
-Kevin Crow, chief human resources officer at Riskonnect
Best Places to Work in Insurance is an annual program that highlights the agents, brokers, insurance companies, and other providers with the highest levels of employee engagement and satisfaction. The leading employers in the insurance industry are identified through a two-part assessment of each company. The first part is a questionnaire completed by the employer about company policies, practices, and demographics. The second part is a confidential employee survey on engagement and satisfaction.
This achievement follows several others for Riskonnect, including being named one of the UK’s Best Workplaces™ for Women and certified as a Great Place to Work® in the United Kingdom by Great Place to Work®. The Company was also named a Best and Brightest Company to Work For® by the U.S. National Association for Business Resources in Atlanta and Chicago for the fourth consecutive year.
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,000 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 800 risk management experts in the Americas, Europe, and Asia.
Risk Strategies | September 16, 2022
Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced it has acquired Beattie & Associates, a retail agency in Missouri specializing in employee benefits for both individuals and employers. Terms of the deal were not announced.
Headquartered in the St. Louis suburb of Chesterfield, Missouri, Beattie & Associates is led by its principal, Tom Beattie. For more than 30 years, the agency has focused on helping both individuals and businesses across a range of industries, create effective and affordable employee benefits coverages that meet their specific needs.
“We’re thrilled to welcome Tom and his team at Beattie & Associates to the Risk Strategies family, Their approach to both team and client work is a great fit with our culture and we’re excited to have them aboard as we expand our capabilities regionally.”
-John Greenbaum, national employee benefits practice leader at Risk Strategies
Beattie offers business clients a full range of employee benefit coverages, including group health, disability, life, dental, and vision, as well as associated support services. Beattie’s client base is highly loyal and largely concentrated in the Midwest Region.
Wanting to preserve our specialty focus and expand our capabilities without losing our high-touch approach to client services made becoming part of Risk Strategies the absolute right choice, I’m excited by the possibilities to further extend our relationships and offerings, including property and casualty, to new and existing clients,said Beattie.
In addition to its base in the St. Louis region, Beattie has presence across Big Sky and Bozeman, Montana, as well as Chicago. The Montana presence represents an expansion for Risk Strategies. Beattie’s Chicago presence will complement existing, long-standing Risk Strategies operations.
About Risk Strategies
Risk Strategies is a specialty national insurance brokerage and risk management firm offering comprehensive risk management advice and insurance and reinsurance placement for property & casualty, employee benefits, and private client services risks. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Ranked among the top brokers in the country, Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco.