copyright © 2013 by the hartford. all rights reserved. no part of this document may be reproduced,...

Copyright © 2013 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford.

4928 NS 09/13

GROUP BENEFITS

Stand Out in Small Business with Risk and Absence Reduction Strategies

Services to help your customers improve theirbusinesses while helping to grow your book


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Disclaimer

Information conveyed in this presentation should not be

construed as legal advice. Information provided in this

presentation is for educational purposes only. No part of

this presentation may be reproduced, published or posted

without the permission of The Hartford.

This webinar and conference line are being recorded.

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Session Basics – Phone Lines

Participant phone lines have been muted

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Session Basics – Asking Questions

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Today’s Presenters

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PRESENTER:

Donato MonacoVice President, Small BusinessGroup [email protected]

PRESENTER:

Maggi Walsh, MS, CRC, CDMS, CCMGroup Benefit Technical ManagerLoss [email protected]

FACILITATOR:

Robert Hayes

The Hartford School of Insurance


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Webinar Objective

Highlight the needs of Small Business owners in the ever-changing Benefits marketplace.

Offer strategies focused on reducing risk and absenteeism by showcasing how The Hartford’s tools and services can help you differentiate yourself in a crowded marketplace resulting in:

NewSales

Higher Retention

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Webinar Agenda

SMALL BUSINESS

Sales and Service Capabilities

SMALL BUSINESS CHARACTERISTICS

Opportunity for You to Stand Out

WORKFORCE DISABILITY TRENDS

Things to Know

WORKFORCE SAFETY & ABSENCE MANAGEMENT

Actionable Solutions

QUESTION & ANSWER SESSION

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1.

2.

3.

4.

5.


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Experience• Over one million small business customers

• 60+ years providing group benefits

Leadership• A top four provider of Group Life and Disability insurance nationally1

• Number one provider of Accidental Death & Dismemberment1

Trust• Named one of the world’s most ethical companies for five consecutive years2

The Hartford and Small Business

Positioned to help you succeed in the under-50 employer market

1 LIMRA’s U.S. Group Disability and Life Sales Report, 2012 full-year results; based on inforce premium.2 The Ethisphere Institute, 2008-2012.

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The Hartford’s Small Business Center

Premier Experience• Dedicated team responsive to producer needs who offer a keen understanding of

the small business marketplace to help you win with 4-49 employee groups

Constantly Evolving• DisabilityFLEXSM voluntary product offering for 10+ employee

groups

• Web-based solution to enable real-time quoting

• National expansion of our dedicated Small Business Sales Executive team

• Naturally Slim® wellness solution for Small Business employers

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Coming Soon!

Expansive Product Portfolio• Employer and employee paid disability and life solutions

for your employer clients to attract and retain top talent

• Differentiated offerings and value added services to set yourself apart in a crowded marketplace


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Small business owners rely heavily on their producer/agent for advice on benefits - nearly 60% seek information and advice1

Current market dynamics • Affordability is the primary reason why small employers do not offer benefits1 • Contributory and employer-paid benefits trending up (vs. Voluntary) in Small Business1

• Medical reform is impacting all sized businesses

To succeed in today’s landscape produces need to provide employers solutions that help:• Reduce total cost of insurance and absenteeism • Enhance employee productivity• Attract and retain top talent

Small Business Characteristics

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1 LIMRA’s “No Small Matter How Small Businesses Make Decisions About Employee Benefits”, 2013


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What solutions can producers offer to help clients improve bottom line results?

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Producers Cite Risk Management Services as “Valuable” to Small Business Employers

98% said Return-to-Work Resources would be valuable

93% said Safety Programs & Practices Assistance would be valuable

92% said ADAAA Employer Help Line would be valuable

88% said Ergonomic Evaluation Support & Tools would be valuable

81% said Job Analysis Guidance would be valuable

We asked producers how valuable each of the risk management tools listed below would be to their clients that have 4-49 employees.

Here’s what they said1 :

1 The Hartford's Group Benefits Producer Opinion Survey, July 2013 – Combined rating of Somewhat & Extremely/Very Valuable Scores

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Workforce “Preservation”

• Disability Incidence

• Aging Workforce Impacts

• Trends & Types of Disabilities

• Effect on Businesses Profitability

• Legislative Concerns

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Predicted Growth of the Aging Workforce

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The New Older Workforce

• Shortage of (younger) workers by 2025

Older Workers:

• Will remain in the workplace due to economy

• Tend to have fewer injuries but take longer to recover

• Are impacted by more chronic diseases

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Potential Risk Factors

Non-occupational

• Obesity

• De-conditioning

• Smoking

• Family history

Occupational

• Ergonomics

• Slips and Falls

• Driver Safety

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The Facts Speak for Themselves

• Disabling injuries or illnesses can be strong drivers of employee absences

• The millennial generation is not immune to disability risk

• Neither are healthy Gen-X'ers!

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The Hartford’s STD & LTD claim data1:

• 72% of claims incurred by workers age 40+

• In LTD, this figure rises to 83%

1 Hartford Claim Data 2013


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Aging Population = More Limitations

Prevalence of Disability by Age1

0% 10% 20% 30% 40% 50% 60% 70% 80%

>80 Years of Age

75-79

70-74

65-69

55-64

45-54

25-44

<15 Years of Age

1 Department of Health and Human Services - http://www.hhs.gov/od/about/fact_sheets/whatisdisability.html

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Age and Impact on Claim Durations

AGE BANDS

DU

RA

TIO

N D

AY

S

STD CLAIM POPULATION1 LTD CLAIM POPULATION1

AGE BANDS

DU

RA

TIO

N M

ON

TH

S

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1 Hartford Claim Data July 2012


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The “24 Hour” Risk

Short-Term Disabilities1

Causes of Worker’s

Comp Injuries1

Long-Term Disabilities1

Leading OccupationalDisabilities1

• Joint/Back/Spine Disorders

• Cancers

• Female Reproductive Disorders

• Fractures

• Muscle/Tendon/Soft Tissue Injuries

• Cancers

• Joint/Back/Spine Disorders

• Muscle/Tendon/Soft Tissue Injuries

• Fractures

• Depression

• Overexertion (lift, push, pull)

• Slip and fall

• Repetitive motion

• Struck by

• Lumbago

• Lumbar strain

• Thoracic or lumbosacral neuritis

• Neck sprain

• Shoulder pain

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1 Hartford STD, LTD and Workers Comp Data from 2011


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The “Ouch” (Bottom Line Pinch)

BUSINESS IMPACT

Unscheduled absences cost employers

• Lost productivity

• Hard costs that can reduce the bottom line

Employee Perspective:

• A number of adult Americans have no emergency savings

• May not be able to cover expenses if employment was lost

• May not be able to cover expenses for more than 3 months

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Big Concerns for Small Business

• Companies with 15+ employees

• Not every disability is a ADAAA qualifier…but…

• Specific process employers need to follow

• Complexity comes from the “gray areas” in the law

Americans with Disabilities Act Amendment Act (ADAAA)

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Strategies – “Back” to Basics

Job Analysis

Workstation or Ergonomic

Interventions

RTW Program Process

Safety Training & Programs

ADAAA Resources

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Workforce Safety & Absence Management

Help small businesses reduce loss and absenteeism.

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ASK the Consultant


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Marketing Communications Tools & Resources

Flyer

Recorded Webinar

Video

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Wrap Up / Summary

• Small Business Owners – Same Employer Obligations, but Fewer Resources

• Aging Workforce Will Impact Business Large & Small

• Access to Resources Typically Reserved for Large Employers

• The Hartford’s Workforce Safety & Absence Management Solutions

• Coming Soon

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Question & Answer

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Call to Action!

• Write business with The Hartford’s Small Business Center

– Competitively priced insurance solutions

– Premier pre-sales and ongoing support

– Differentiated value-added services including Workforce Safety and Absence Management for Small Businesses

• Visit and share our new Workforce Safety and Absence Management website with clients and prospects

– thehartford.com/workforce-safety-service

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Contact Info

For employer groups with 4-49 lives, submit

quote requests and RFPs directly to the

Small Business Center

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CONTACT US:

Call Toll Free: 888-899-9174 (M-F, 8am-8pm EST)

Email: [email protected]

Web: theharford.com/gbsmallbusiness


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The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries, including its administrative services company, Hartford-Comprehensive Employee Benefit Service Company and issuing companies Hartford Life Insurance Company, Hartford Life and Accident Insurance Company and Hartford Fire Insurance Company. All non-property and casualty policies sold in New York are underwritten by Hartford Life Insurance Company. The home office of Hartford Life Insurance Company is Simsbury, CT. All property and casualty policies are underwritten by Hartford Fire Insurance Company, Inc., and its property and casualty affiliates, Hartford, CT.

This document outlines in general terms certain benefits and services that may be afforded under a Hartford policy or service contract. In the event of a conflict, the terms and conditions of the policies and contracts prevail. All Hartford policies and services described in this document may be offered by one or more subsidiaries of The Hartford Financial Services Group, Inc.

The Hartford does not provide legal advice related to ADA compliance. The information contained herein is not to be construed as legal advice and is informational only. For legal advice, please contact the counsel of your choice.

copyright © 2013 by the hartford. all rights reserved. no part of this document may be reproduced,...

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