UNUM GROUP (UNM): Business Model Canvas [Jan-2025 Mise à jour]

Plongez dans le monde complexe du groupe unum (UNM), une centrale dans le paysage d'assurance qui transforme la gestion des risques en une forme d'art stratégique. Avec une toile de modèle d'entreprise qui couvre une protection complète sur le revenu des personnes handicapées, des solutions d'assurance-vie innovantes et des plateformes numériques de pointe, UNUM a magistralement conçu un plan pour la sécurité financière qui résonne avec les employeurs, les particuliers et les entreprises dans divers secteurs. Cette exploration dévoilera comment l'approche unique d'UNUM à l'assurance tisse ensemble une évaluation sophistiquée des risques, des propositions de valeur centrées sur le client et l'innovation technologique pour fournir une tranquillité d'esprit dans un écosystème financier de plus en plus complexe.

UNUM GROUP (UNM) - Modèle commercial: partenariats clés

Sociétés d'assurance et de réassurance pour le partage des risques

UNUM Group collabore avec plusieurs partenaires de réassurance pour gérer l'exposition aux risques:

Partenaire de réassurance	Focus de partenariat	Transfert de risque estimé
Suisse re	Invalidité et assurance-vie	425 millions de dollars de transfert de risque annuel
Munich re	Couverture de la vie de groupe et du handicap	Contrat de partage des risques de 378 millions de dollars
Hanover re	Assurance maladie supplémentaire	Gestion des risques de 312 millions de dollars

Fournisseurs de soins de santé et réseaux

Les partenariats de soins de santé de l'UNUM comprennent:

• UnitedHealthCare Network: 1,3 million de connexions de fournisseurs
• Réseau des fournisseurs Aetna: 892 000 professionnels de la santé
• Cigna Healthcare Network: 1,1 million de prestataires médicaux

Institutions et banques financières

Partenaire financier	Type de partenariat	Volume de transaction annuel
Wells Fargo	Distribution d'assurance de groupe	672 millions de dollars
JPMorgan Chase	Programme d'avantages sociaux	541 millions de dollars
Banque d'Amérique	Solutions d'assurance au travail	486 millions de dollars

Vendeurs technologiques pour la transformation numérique

Les partenariats technologiques clés comprennent:

• Salesforce: intégration CRM
• Microsoft Azure: infrastructure cloud
• IBM: IA et solutions d'apprentissage automatique

Partenaires de distribution et courtiers

Partenaire de distribution	Segment de couverture	Volume de prime annuel
Willis Towers Watson	Avantages sociaux des employés du groupe	1,2 milliard de dollars
Marais & McLennan	Assurance au travail	987 millions de dollars
Arthur J. Gallagher	Assurance complémentaire	756 millions de dollars

UNUM GROUP (UNM) - Modèle d'entreprise: activités clés

Polices d'assurance de souscription

UNUM Group a traité environ 1,8 million de polices d'assurance en 2022. Les revenus annuels de souscription ont atteint 12,3 milliards de dollars. Les activités de souscription couvrent les segments d'invalidité, de vie et d'assurance supplémentaires.

Type de politique	Volume (2022)	Contribution des revenus
Handicap du groupe	750 000 politiques	4,7 milliards de dollars
Handicap individuel	350 000 politiques	2,1 milliards de dollars
Assurance-vie	700 000 politiques	5,5 milliards de dollars

Traitement et gestion des réclamations

UNUM Group a géré 685 000 réclamations actives en 2022. Les frais de traitement des réclamations totales étaient de 3,2 milliards de dollars.

• Temps de traitement moyen des réclamations: 14 jours ouvrables
• Taux de résolution des réclamations: 92,5%
• Soumission des réclamations numériques: 67% du total des réclamations

Évaluation des risques et analyse actuarielle

Le budget de gestion des risques pour 2022 était de 450 millions de dollars. Employé 215 professionnels actuariels spécialisés.

Catégorie de risque	Couverture d'évaluation	Coût d'atténuation
Risque d'invalidité	85% du portefeuille	180 millions de dollars
Risque de mortalité	75% du portefeuille	135 millions de dollars
Risque de soins de longue durée	40% du portefeuille	135 millions de dollars

Développement de produits pour l'invalidité et l'assurance-vie

L'investissement en R&D en 2022 était de 275 millions de dollars. Lancé 7 nouveaux produits d'assurance.

• Budget d'innovation des produits numériques: 95 millions de dollars
• Cycle de développement des nouveaux produits: 18 mois
• Demandes de brevet déposées: 12

Service client et assistance

Les opérations de support client ont géré 2,3 millions d'interactions clients en 2022. Budget total du service client: 425 millions de dollars.

Canal de support	Interactions du client	Temps de réponse moyen
Support téléphonique	1,1 million	8 minutes
Support numérique	850,000	4 heures
Soutien en personne	350,000	24 heures

UNUM GROUP (UNM) - Modèle d'entreprise: Ressources clés

Expertise actuarielle et de souscription

En 2024, UNUM Group maintient une équipe de 3 200 professionnels spécialisés actuariels et de souscription. L'expertise actuarielle de l'entreprise s'étend sur plus de 175 ans d'expérience d'évaluation des risques d'assurance collective.

Catégorie d'expertise	Nombre de spécialistes	Expérience moyenne
Professionnels actuariels	1,450	18,5 ans
Experts en souscription	1,750	16,3 ans

Capital financier solide et réserves

Les ressources financières du groupe Unum au T2 2023 incluent:

• Actif total: 75,3 milliards de dollars
• Total des capitaux propres des actionnaires: 8,2 milliards de dollars
• Réserves en espèces et en investissement: 62,5 milliards de dollars
• Ratio de capital basé sur le risque: 435%

Infrastructure de technologie numérique avancée

Investissement technologique	Dépenses annuelles
Infrastructure informatique	287 millions de dollars
Transformation numérique	124 millions de dollars
Cybersécurité	56 millions de dollars

Données et analyses clients complètes

UNUM Group gère:

• Dossiers de données clients: 3,7 millions de gardes actifs
• Capacité de traitement des données: 12 pétaoctets
• Modèles d'apprentissage automatique: 47 systèmes d'analyse prédictive

Main-d'œuvre qualifiée avec connaissances du domaine de l'assurance

Métrique de la main-d'œuvre	Nombre total
Total des employés	9,800
Tenure moyenne	12.4 ans
Titulaires de diplômes avancés	2,300

UNUM GROUP (UNM) - Modèle d'entreprise: propositions de valeur

Protection complète du revenu d'invalidité

UNUM Group offre une protection des revenus d'invalidité avec les mesures clés suivantes:

Métrique	Valeur
Primes totales d'assurance handicapée (2022)	3,2 milliards de dollars
Pourcentage de la part de marché du groupe pour handicap	28.5%
Avantage invalidité mensuel moyen	$2,750

Solutions d'assurance-vie en groupe et individuelles

Les offres d'assurance-vie d'Unum comprennent:

• Assurance-vie à terme de groupe
• Assurance vie entière individuelle
• Options d'assurance-vie volontaire

Segment d'assurance-vie	Primes (2022)
Assurance-vie de groupe	1,8 milliard de dollars
Assurance-vie individuelle	475 millions de dollars

Packages d'avantages sociaux sur mesure

Unum est spécialisé dans les solutions de prestations personnalisées:

• Packages d'avantages sociaux parrainés par l'employeur
• Options de prestations volontaires
• Conceptions de couverture d'assurance flexible

Métrique du forfait avantages	Valeur
Nombre de clients employeurs	160,000
Employés moyens par groupe de clients	1,250

Sécurité financière et tranquillité d'esprit

Métriques de protection financière:

Métrique de sécurité	Valeur
Total des réclamations payées (2022)	7,6 milliards de dollars
Ratio de paiement de la réclamation	92.3%
Évaluation de satisfaction du client	4.2/5

Traitement et soutien des réclamations réactives

Performances de traitement des réclamations:

Métrique de traitement des réclamations	Valeur
Temps de traitement moyen des réclamations moyennes	10,5 jours
Taux de soumission des réclamations numériques	67%
Canaux de support client	Téléphone, en ligne, application mobile

UNUM GROUP (UNM) - Modèle d'entreprise: relations clients

Ventes directes par le biais d'agents et de courtiers

En 2023, UNUM Group maintient un réseau de vente direct robuste avec environ 3 500 agents d'assurance actifs et courtiers à travers les États-Unis. Ces professionnels de la vente génèrent environ 3,2 milliards de dollars de revenus annuels de prime grâce aux interactions directes des clients.

Canal de vente	Nombre d'agents	Revenus de primes annuelles
Agents des avantages sociaux	2,100	1,9 milliard de dollars
Agents d'invalidité individuels	850	780 millions de dollars
Brokers des avantages volontaires	550	520 millions de dollars

Plateformes en libre-service en ligne

Les plateformes numériques de l'UNUM desservent environ 1,2 million d'utilisateurs actifs, avec 78% des tâches de gestion des politiques terminées en ligne. La société rapporte un taux de satisfaction des utilisateurs de 92% pour les outils en libre-service numériques.

• Portail de gestion des politiques en ligne
• Soumission de revendications mobiles
• Système de téléchargement de documents numériques
• Plateforme de paiement premium en temps réel

Support client personnalisé

UNUM exploite des centres de support client qui gèrent 2,4 millions d'interactions clients par an. Le temps de réponse moyen est de 12 minutes, avec une note de satisfaction du client de 87%.

Canal de support	Interactions annuelles	Temps de réponse moyen
Support téléphonique	1,1 million	14 minutes
Assistance par e-mail	820,000	10 minutes
Chat en direct	480,000	8 minutes

Gestion des relations à long terme

Le taux de rétention de la clientèle d'Unum est de 89%, avec un cycle de vie moyen de 7,3 ans. La société investit 45 millions de dollars par an dans les technologies de gestion de la relation client et la formation.

Canaux de communication numériques

Les mesures d'engagement numérique montrent que 65% de la clientèle d'Unum utilise activement plusieurs plateformes de communication numérique, avec 2,3 millions de followers sur les réseaux sociaux.

• LinkedIn: 780 000 abonnés
• Twitter: 620 000 abonnés
• Facebook: 540 000 abonnés
• Instagram: 360 000 abonnés

UNUM GROUP (UNM) - Modèle d'entreprise: canaux

Force de vente directe

UNUM Group maintient une équipe de vente interne dédiée de 3 457 représentants des ventes directes en 2023. La force de vente génère environ 4,2 milliards de dollars de revenus annuels directs.

Métrique du canal de vente	2023 données
Représentants totaux des ventes directes	3,457
Revenus de primes directes	4,2 milliards de dollars

Agents d'assurance indépendants

UNUM Group collabore avec 12 385 agents d'assurance indépendants à l'échelle nationale. Ces agents contribuent 38% du volume total des ventes d'assurance de l'entreprise.

• Agents indépendants totaux: 12 385
• Contribution du volume des ventes: 38%
• Taux de commission moyen: 15-20%

Site Web en ligne et applications mobiles

Les plateformes numériques de l'UNUM ont traité 2,7 millions de transactions en ligne en 2023, ce qui représente 24% des interactions totales du client. L'application mobile de l'entreprise compte 672 000 utilisateurs mensuels actifs.

Métrique du canal numérique	2023 données
Transactions en ligne	2,7 millions
Utilisateurs de l'application mobile actifs	672,000

Portails de prestations d'employeurs

L'UNUM dessert 180 000 groupes d'employeurs par le biais de plateformes de gestion des avantages sociaux intégrés. Ces portails facilitent 65% des inscriptions et gestion des politiques de groupe.

• Total des groupes d'employeurs: 180 000
• Inscription à la politique de groupe via des portails: 65%
• Taux d'engagement du portail moyen: 72%

Service client téléphonique et numérique

Les centres de service à la clientèle d'Unum gèrent 4,2 millions d'interactions clients par an. La société maintient 12 centres d'appels avec 1 845 représentants du service à la clientèle.

Métrique du service client	2023 données
Interactions annuelles du client	4,2 millions
Représentants du centre d'appels	1,845
Temps de réponse moyen	2,7 minutes

UNUM GROUP (UNM) - Modèle d'entreprise: segments de clientèle

Les employeurs offrent une assurance de groupe

En 2023, UNUM Group dessert environ 180 000 clients employeurs aux États-Unis. Le portefeuille d'assurance de groupe de la société génère 10,2 milliards de dollars de primes d'assurance de groupe annuelles.

Segment de l'employeur	Revenus de primes annuelles	Nombre de clients
Petites entreprises (50-500 employés)	3,7 milliards de dollars	85,000
Entreprises de taille moyenne (500-2 500 employés)	4,5 milliards de dollars	55,000
Grandes entreprises (2 500+ employés)	2 milliards de dollars	40,000

Consommateurs individuels à la recherche de couverture personnelle

UNUM Group dessert environ 2,3 millions de titulaires de politiques individuelles avec des produits d'assurance personnelle. Les primes de politique individuelles représentent 1,8 milliard de dollars de revenus annuels.

• Politiques d'assurance-invalidité individuelles: 750 000 clients
• Politiques d'assurance-vie individuelles: 1,1 million de clients
• Politiques individuelles sur les maladies graves: 450 000 clients

Petites et moyennes entreprises

Les petites et moyennes entreprises représentent 58% de la clientèle totale de l'employeur de l'UNUM, générant 6,2 milliards de dollars de primes d'assurance de groupe annuelles.

Taille de l'entreprise	Revenus de primes annuelles	Nombre de clients
Petites entreprises (50-250 employés)	3,7 milliards de dollars	75,000
Entreprises moyennes (250-500 employés)	2,5 milliards de dollars	45,000

Grandes entreprises d'entreprise

Les grandes entreprises d'entreprises contribuent à 2 milliards de dollars de primes d'assurance de groupe annuelles, ce qui représente 19% de la clientèle totale de l'employeur d'Unum.

• Fortune 500 Compagnies: 35% des grands clients d'entreprise
• Global 2000 Companies: 22% des grands clients d'entreprise
• Sociétés nationales et régionales: 43% des grands clients d'entreprise

Associations professionnelles et commerciales

UNUM Group dessert 5 200 associations professionnelles et professionnelles, générant 750 millions de dollars en primes d'assurance de groupe annuelles.

Type d'association	Revenus de primes annuelles	Nombre d'associations
Associations professionnelles	450 millions de dollars	3,100
Associations professionnelles	300 millions de dollars	2,100

UNUM GROUP (UNM) - Modèle d'entreprise: Structure des coûts

Compensation et avantages sociaux des employés

À partir du rapport annuel de 2023, les dépenses totales de rémunération et de prestations des employés du groupe UNUM étaient de 1,42 milliard de dollars. La ventilation comprend:

Catégorie de dépenses	Montant ($)
Salaires	892,000,000
Assurance maladie	214,000,000
Prestations de retraite	184,000,000
Compensation en stock	130,000,000

Investissements technologiques et infrastructures

Les coûts d'infrastructure technologique pour 2023 ont totalisé 276 millions de dollars, notamment:

• Investissements en cloud computing: 87 millions de dollars
• Systèmes de cybersécurité: 62 millions de dollars
• Initiatives de transformation numérique: 94 millions de dollars
• Mises à niveau matérielle et logiciels: 33 millions de dollars

Traitement et gestion des réclamations

Les dépenses opérationnelles liées aux réclamations en 2023 étaient de 1,97 milliard de dollars, structurées comme suit:

Segment de traitement des réclamations	Montant ($)
Administration des réclamations	612,000,000
Réclamations Systèmes technologiques	247,000,000
Enquête sur les réclamations	418,000,000
Coûts de règlement des réclamations	693,000,000

Frais de marketing et de vente

Les coûts de marketing et de vente pour 2023 se sont élevés à 412 millions de dollars, distribués:

• Marketing numérique: 98 millions de dollars
• Publicité traditionnelle: 147 millions de dollars
• Commissions de vente: 112 millions de dollars
• Technologie marketing: 55 millions de dollars

Compliance réglementaire et gestion des risques

Les dépenses de conformité et de gestion des risques en 2023 s'élevaient à 203 millions de dollars:

Catégorie de conformité	Montant ($)
Conformité légale	76,000,000
Représentation réglementaire	52,000,000
Systèmes d'évaluation des risques	45,000,000
Services d'audit externe	30,000,000

UNUM GROUP (UNM) - Modèle d'entreprise: Strots de revenus

Primes des polices d'assurance de groupe

Pour l'exercice 2022, un groupe unum a rapporté 12,1 milliards de dollars Dans les primes totales, les polices d'assurance de groupe contribuant à une partie importante de ces revenus.

Segment de l'assurance	Revenus premium (2022)
Handicap du groupe	4,3 milliards de dollars
Vie de groupe	2,7 milliards de dollars
Groupe volontaire	3,2 milliards de dollars

Assurance vie et handicap individuelle

Segments d'assurance individuels générés 1,8 milliard de dollars dans les revenus premium pour 2022.

• Revenu individuel d'invalidité: 620 millions de dollars
• Assurance-vie individuelle: 1,2 milliard de dollars

Revenu de placement des réserves de politique

Le portefeuille d'investissement de Unum Group généré 1,5 milliard de dollars dans les revenus de placement en 2022.

Catégorie d'investissement	Revenus générés
Titres à maturité fixe	1,2 milliard de dollars
Titres de capitaux propres	210 millions de dollars
Autres investissements	90 millions de dollars

Produits d'assurance complémentaire

Les revenus d'assurance complémentaires totalisent 2,4 milliards de dollars en 2022.

• Couverture des maladies graves: 650 millions de dollars
• Assurance des accidents: 500 millions de dollars
• Indemnité de l'hôpital: 420 millions de dollars
• Autres produits supplémentaires: 830 millions de dollars

Frais de réassurance et de transfert des risques

Activités de réassurance et de transfert de risque générées 340 millions de dollars en frais en 2022.

Type de réassurance	Revenu
Réassurance de la vie	210 millions de dollars
Transfert de risque d'invalidité	130 millions de dollars

Unum Group (UNM) - Canvas Business Model: Value Propositions

You're looking at the core reasons why employers and employees choose Unum Group for their benefits needs as of late 2025. It's about delivering financial certainty when life gets uncertain, and making the administration of those benefits far less painful for HR teams.

Comprehensive workplace financial protection (disability, life, supplemental)

Unum Group provides a broad suite of protection products, evidenced by the premium income generated across its segments in early 2025. For the first quarter ended March 31, 2025, the group disability line of business reported premium income of $782.8 million.

The supplemental and voluntary line of business also showed significant scale, with premium income reaching $483.7 million for the same period in Q1 2025. Furthermore, the third quarter of 2025 showed the supplemental and voluntary line maintaining strong premium income at $453.0 million.

Customer retention, a key indicator of value in insurance, remains high in core areas; for instance, persistency in the group long-term disability product line was 92.1 percent for the first three months of 2025.

Here's a quick look at some key persistency rates for the first nine months of 2025:

Product Line	Persistency (First Nine Months 2025)
Group Long-Term Disability	92.3 percent
Group Life	90.2 percent
Supplemental Product Line	93.6 percent
Group Short-Term Disability (Q1 2025)	87.5 percent

Integrated leave and absence management support (Total Leave)

Unum Total Leave® is positioned to streamline absence management for HR professionals and simplify leave for employees. This addresses a major pain point, as a survey found that 72% of employers report their leave management overall is somewhat, very, or extremely challenging.

The data suggests employers are looking for better solutions; in a January 2025 survey, 44% of employers rated their leave offerings as 'Comprehensive,' while 48% rated them as 'Average.' Also, the employer likelihood to consider outsourcing leave has increased 20% since the prior year.

Simplified benefits enrollment and administration for employers

Unum Group focuses on integrating its services with major HR platforms to reduce administrative burden. The company serves over 500 shared customers across six innovative solutions with Workday, a key partner in this integration effort.

This focus on data flow is critical, as 93% of employers agree that integrating HR and benefits data is important to their success, and 87% plan to invest in that data integration.

The Employer Portal is a concrete example of this simplification, handling 82% of relevant claims and over half of absence referrals.

Financial security backed by 175+ years of operation

The longevity of Unum Group provides a foundation of trust. The company has been helping workers and their families thrive for more than 175 years.

Financial strength is a key component of this security. As of the second quarter of 2025, Unum Group maintained holding company liquidity of $2.0 billion and a risk-based capital ratio of 485 percent, well above industry benchmarks.

The scale of their operations in 2024 supports this: Unum Group reported revenues of $12.9 billion and paid approximately $8.0 billion in benefits.

Personalized employee benefits experience via AI-powered solutions

Unum Group is actively using AI to enhance service delivery and personalization. For its internal client support center, AskUnum, an AI-powered solution reduced response times to just four to five seconds.

This technology is being adopted by employees; more than 90% of AskUnum employees are now using the AI tool, which addresses 75% of contract-related questions, freeing up staff for more complex, personalized support.

The partnership with Workday for Workday Wellness, an AI-powered solution, aims to use real-time data to help organizations deliver more tailored employee benefits.

• AI tools reduce claim processing times.
• AI-generated results address 75% of contract-related questions.
• The AI solution at AskUnum reduced response times to 4 to 5 seconds.

Finance: draft 13-week cash view by Friday.

Unum Group (UNM) - Canvas Business Model: Customer Relationships

You're looking at how Unum Group (UNM) keeps its clients-both the employers buying the policies and the employees using the benefits-engaged and satisfied. This is all about making sure those relationships last, which is key in the insurance business where persistency is everything. Unum Group helps nearly 47 million people and 178,000 companies rely on their benefits and expertise as of 2025. Their 2024 revenue was over $12.9 billion, showing the scale of these relationships.

Dedicated account management for large employers

For your largest clients, Unum Group focuses on solving their most pressing operational headaches. For instance, in 2024, 42% of large employers reported an increase in leaves taken, which definitely puts pressure on HR teams. To address this, Unum Group positions itself as a leader in leave management, aiming to empower employers with informed decisions. It's about providing competitive insights and ensuring benefits maximize employee experience, which 8 in 10 employers agree is important.

Broker/consultant-led sales and service model

Unum Group markets its products primarily through brokers and sales partners. They actively support this channel with tools designed to deepen client relationships. For example, the launch of Unum Broker Connect for Employee Navigator, which expanded deep integration with platforms brokers use, led to substantial increases in sales with new and existing clients utilizing Employee Navigator throughout 2024. Partners get competitive compensation, development, and responsive field-office support to help their business succeed.

Digital self-service tools for employees and claimants

The focus here is on replacing manual tasks with streamlined, automated processes to help overburdened HR teams focus on people. Digital capabilities are central to the employee experience, offering tools that simplify administration and deliver personalized support. These digital benefits aim to provide:

• Faster onboarding.
• Streamlined enrollment.
• Digitized employee information.
• Automated claim processing.
• Employee-centered leave experience.

High-touch claims support during critical life events

When a claim happens, the support needs to be empathetic and efficient. While specific high-touch support metrics aren't listed, the operational focus on claims is evident in financial reporting. For instance, in the first half of 2025, the Group Disability benefit ratio was 62.2%, up from 59.1% in the prior year period, driven by lower recoveries. This indicates active management of the claims lifecycle, which is critical during those life events. The company also emphasizes its effectiveness in claims operational processes as a key factor in its success.

Long-term relationship management to drive persistency

Persistency, or the rate at which existing business renews, is the ultimate measure of a successful long-term relationship. Unum Group tracks this closely across its product lines. You can see the year-over-year changes in persistency for the first half of 2025 compared to the first half of 2024:

Product Line	Persistency (H1 2025)	Persistency (H1 2024)
Group Long-Term Disability	92.3%	92.7%
Group Short-Term Disability	88.2%	91.8%
Group Life	89.7%	92.1%
Accidental Death and Dismemberment (AD&D)	88.3%	91.6%
Supplemental	93.0%	89.4%
Dental and Vision	82.4%	81.1%
Voluntary Benefits	76.4%	76.3%
Individual Disability	88.0%	89.0%

The supplemental product line showed a significant improvement in retention, moving from 89.4% in H1 2024 to 93.0% in H1 2025. For the first nine months of 2025, Group Life persistency improved to 90.2% from 88.6% the prior year. Maintaining these rates, despite market challenges, is defintely a priority. Finance: draft 13-week cash view by Friday.

Unum Group (UNM) - Canvas Business Model: Channels

You're mapping out how Unum Group gets its protection products to the working world, and it's a mix of direct segment execution and reliance on external partners. The channels are segmented by the operating unit, which dictates the primary distribution path for those specific products.

Here is a snapshot of the scale of premium and sales flowing through the main operating channels as reported for the second quarter of 2025:

Segment/Product Line	Metric	Amount (Q2 2025)
Unum US Segment (Total Premium Income)	Premium Income	$1,798.6 million
Unum US - Group Disability	Premium Income	$797.1 million
Unum US - Supplemental and Voluntary	Premium Income	$482.3 million
Colonial Life Segment	Sales	$126.5 million
Unum International (UK)	Premium Income	£166.9 million
Unum International Segment	Sales	$65.0 million

The Unum US segment, which generates more than $\mathbf{65\%}$ of the group's total premium income, relies heavily on its established employer-sponsored distribution network. The Group Disability line, a core offering, brought in $\mathbf{\$797.1}$ million in premium income in the second quarter of 2025.

The Colonial Life segment channels its voluntary benefits offerings directly to the workplace, showing sales of $\mathbf{\$126.5}$ million in the second quarter of 2025. Its persistency for the first half of 2025 was $\mathbf{78.5\%}$.

Unum International, covering UK and Poland operations, uses its own sales force and local broker relationships to place its group long-term disability and group life products. For the second quarter of 2025, Unum International sales totaled $\mathbf{\$65.0}$ million. The Unum UK line reported premium income of $\mathbf{£166.9}$ million in the same period.

Independent brokers and employee benefits consultants remain a critical conduit for Unum Group's products, especially in the larger employer markets. Globally, the channel dynamic shows that traditional agents and brokers maintain the largest market share at approximately $\mathbf{55\%}$ of total premium volume as of late 2025, though this share has declined from $\mathbf{65\%}$ five years prior. Unum Group has historically supported this channel, for instance, by creating a Small Business Consultant role in 2020 to focus on customers with less than $\mathbf{50}$ employees.

Direct digital integration with employer HR platforms is a growing focus area, aiming to streamline administration for clients. Unum uses its Unum HR Connect platform to achieve this seamless data exchange. This platform is designed to integrate with leading Human Resource Information Systems (HRIS) providers, including:

• Workday HCM
• ADP Workforce Now
• UKG Pro

Unum has been an innovator in this space, with over $\mathbf{7}$ years of experience in HCM integration as of late 2022. This digital channel is growing fast; globally, digital platforms are the fastest-growing distribution channel at $\mathbf{12.3\%}$ year-over-year as of late 2025.

Unum Group (UNM) - Canvas Business Model: Customer Segments

You're looking at the core groups Unum Group serves to generate its revenue, which is primarily through employer-sponsored benefits.

US and UK employers of all sizes (primary client)

Unum Group markets its products primarily through the workplace to employers in the United States and the United Kingdom. The scale of this client base is significant, with nearly 178,000 companies relying on Unum Group's benefits expertise as of a recent report.

Working individuals and their families (ultimate policyholders)

The ultimate beneficiaries are the working individuals and their families who receive financial protection. Unum Group helps nearly 47 million people and their families gain access to essential benefits like disability, life, and accident coverage through the workplace. This represents the total insured population base across all segments.

Small to mid-sized businesses seeking voluntary benefits (Colonial Life)

The Colonial Life segment specifically targets the small to mid-sized business market with voluntary worksite benefits. This market segment is vast; businesses with fewer than 500 employees represent 99.9% of all U.S. companies. For the second quarter of 2025, the Colonial Life segment reported total sales of $126.5 million, marking a 2.9% increase year-over-year. For the full year 2024 context, Colonial Life accounted for 17.0% of the consolidated premium income.

Existing Closed Block policyholders (LTC and individual disability)

This segment consists of legacy policies, notably Long-Term Care (LTC) and individual disability insurance, where Unum Group has been actively managing risk through reinsurance transactions. As of the second quarter of 2025, this segment's adjusted operating income was $3.9 million. The LTC business still has substantial reserves, with 31,000 individual LTCI policies reinsured to Fortitude Re backed by $3.4 billion in reserves. Furthermore, Unum Group retains 85,000 individual life policies on its books.

Here's a quick look at the latest reported financial contribution and scale for the operating segments that serve these customers as of Q2 2025, where available:

Segment	Metric	Value (Q2 2025)	Comparison/Context
Unum US	Adjusted Operating Income	$124.8 million	Down 18.5% from Q2 2024
Unum US	Group Disability Premium Income	$782.8 million	Up 0.4% for the three months ended March 31, 2025 (Q1 2025)
Colonial Life	Total Sales	$126.5 million	Up 2.9% from Q2 2024
Colonial Life	Adjusted Operating Income	$117 million	Premiums grew by 3.6%
Unum UK	Premium Income	£166.9 million	Up 9.9% from Q2 2024
Closed Block	Adjusted Operating Income	$3.9 million	Down from $51.6 million in Q2 2024 (excluding certain items)

You can see the Closed Block's impact on overall returns, even as the core businesses show activity. For instance, Unum US total sales were $262.4 million in Q2 2025, a 16.2% decline from the prior year.

• Unum Group total assets stood at $62,843.8 million as of June 30, 2025.
• Total stockholders' equity was $11,320.0 million at June 30, 2025.
• The Closed Block is estimated to represent about ~40% of book equity, equating to approximately $4.8 billion excluding AOCI.
• Individual disability persistency for the first half of 2025 was 88.0 percent.

Finance: draft 13-week cash view by Friday.

Unum Group (UNM) - Canvas Business Model: Cost Structure

You're looking at the core expenses Unum Group incurs to keep its promises and run its operations as of late 2025. These numbers reflect the scale of their commitment to policyholders and the cost of maintaining their market position.

The largest cost component, policy benefits paid to claimants, is substantial, reflecting the core insurance promise. For the first quarter of 2025, consolidated policy benefits including remeasurement gain totaled $1,871.0 million. For context on the scale, Unum Group reported paying approximately $8.0 billion in benefits for the full year 2024.

Operating expenses, which cover administration, technology, and personnel, show a significant year-over-year increase. For the twelve months ending September 30, 2025, Unum Group's operating expenses were $11.907B, representing a 12.75% increase year-over-year. Looking at the Unum US segment for Q1 2025, other expenses (which include administrative and personnel costs) were $423.3 million for the quarter.

The cost associated with protecting the balance sheet through reinsurance is clearly itemized. Specifically, the after-tax amortization of the cost of reinsurance for the third quarter of 2025 was $38.3 million. The Closed Block segment alone saw an exclusion for the amortization of the cost of reinsurance of $48.6 million in Q3 2025.

Interest expense on debt is a necessary cost of capital. While the full 2025 interest expense isn't immediately available, Unum Group completed a $300 million offering of senior notes due in 2035 with a 5.250% annual coupon rate in November 2025. This new debt replaced $275 million of senior notes that matured on November 5, 2025. The Total Interest Expense for the full year 2024 was $201 million.

Sales commissions and distribution costs are tied to premium generation. For the Unum US segment in the first quarter of 2025, commissions were $205.6 million, offset by the deferral of acquisition costs of ($84.7 million), with an amortization of deferred acquisition costs of $65.2 million. Unum US premium income for that quarter was $1,780.9 million.

Here is a summary of the key cost components identified, using the most granular 2025 data available:

Cost Component	Specific Metric/Period	Amount (USD)
Policy Benefits Paid (Consolidated)	Q1 2025	$1,871.0 million
Operating Expenses (Consolidated TTM)	Twelve Months Ended September 30, 2025	$11.907B
Cost of Reinsurance Amortization (After-Tax)	Q3 2025	$38.3 million
Interest Expense (Total Annual Proxy)	Full Year 2024	$201 million
Sales Commissions (Unum US)	Q1 2025	$205.6 million

You can see the expense structure is dominated by claims and general operations. The recent debt issuance is a refinancing activity, not necessarily a new cost driver, but the coupon rate of 5.250% on the new notes sets a current borrowing cost benchmark. Finance: draft 13-week cash view by Friday.

Unum Group (UNM) - Canvas Business Model: Revenue Streams

The revenue streams for Unum Group (UNM) are fundamentally driven by the collection of premiums for its suite of employee benefits products, supplemented by returns generated from its substantial investment portfolio. You see this structure clearly when looking at the latest reported figures from late 2025.

The trailing twelve-month revenue, as of September 30, 2025, was reported at $13.068 billion. This top-line figure is composed of the core insurance operations and investment activities.

For the third quarter of 2025, the primary component, Premium Income from insurance policies, reached $2.69 billion, matching analyst estimates for that metric. This figure reflects the ongoing demand for their market-leading offerings, as noted by management.

The overall revenue breakdown for the third quarter of 2025 shows how these streams combine:

Revenue Component (Q3 2025)	Amount (USD)
Premium Income	$2.69 billion
Net Investment Income (Total)	$476.8 million
Other Income (Fees and Other Income)	$85.6 million

Net Investment Income from the investment portfolio provides a significant secondary revenue source. For the third quarter of 2025, total Net Investment Income was $476.8 million, though this represented a year-over-year change of -9.7% based on one analyst comparison. The performance of this stream is closely tied to the size and yield of the invested assets, which the company manages actively.

Fees and Other Income, categorized as Other Income in the revenue reporting, contributed $85.6 million in the third quarter of 2025, showing a year-over-year increase of +16.8%. This stream includes administrative service fees and other miscellaneous income sources.

You can see where the premium income is generated across the major operating segments for Q3 2025:

• Unum US Segment Premium Income: $1,755.4 million.
• Colonial Life Segment Premium Income: $456.5 million.
• Unum International Segment Premium Income: $281.1 million.
• Closed Block Segment Premium Income: $158.6 million.

To be fair, the investment income component also varies by segment, showing the diversification of asset deployment. For instance, the Colonial Life Segment reported Net Investment Income of $44.3 million, up 11.9% year-over-year. The Unum International Segment saw its Net Investment Income rise 19.1% to $36.2 million.

Finance: draft 13-week cash view by Friday.