Assurant Employee Benefits Acquisition
July 1, 2017 Integration Update
A little over a year ago, we announced Sun Life's acquisition of Assurant Employee Benefits, making us the sixth-largest group benefits business in the U.S.1 Since then, we have been working hard to combine the strengths of the two businesses so that our Clients can benefit from our broadened product portfolio, enhanced online capabilities, and continued support from the same service contacts they work with today.
Newly combined portfolio of products
Since the acquisition, we've sold an expanded product portfolio containing both legacy Sun Life and legacy Assurant Employee Benefits offerings. We recently rolled out new product offerings that combine the best of both worlds into single offerings under the Sun Life brand.
Enhanced online capabilities
Much work has been occurring behind the scenes to combine our separate quoting, billing, and web platforms. Over time, legacy Assurant Employee Benefits Clients will transition over to Sun Life's benefit administration platform, Sun Life Connect, while legacy Sun Life brokers will gain access to Online Advantage to view block of business and commissions information.
Rebranding efforts well underway
With a large-scale rebranding effort underway, there's little left today containing the Assurant Employee Benefits name. To date, we've rebranded thousands of touch points under the Sun Life name cutting across forms, marketing materials, stationery, websites, dental ID cards, phone systems, email addresses, URLs, and more.
Conversion efforts
The final milestone for Clients in our integration efforts is to transition Assurant Employee Benefits in-force policies ovr to Sun Life contracts. As clients are eligible for conversion, we will reach out to them regarding the opportunity to move to a Sun Life contract with similar provisions and financial strength ratings. This process will commence in the fourth quarter of 2017.
Continued service support
Sun Life remains customer driven, service oriented, and committed to providing you with the same high-quality service you've come to expect. If you have any questions about our integration efforts, please call Client Services at 800-247-6875.
1. Sun Life Financial's U.S. group benefits business is the sixth-largest group benefits business (excluding group health care) in the U.S. based on pro forma combined revenue from an internal analysis of publicly available information as of May 31, 2016.
