About The Guardian Life Insurance Company of America

Guardian Life Insurance Company of America keeps a sharp eye on the investments of its policyholders. Guardian and its subsidiaries offer life insurance, disability income insurance, and retirement programs to individuals, business owners, and their employees. Its employee health indemnity plans provide HMO, PPO, and dental and vision plans, as well as disability plans. Its Guardian Insurance & Annuity subsidiary offers retirement options that include mutual funds and annuity products, which its Guardian Investor Services manages. Guardian also offers estate planning and education savings programs. The firm is a mutual company owned by its policyholders.

Operations

Like other bread-and-butter life insurance companies, Guardian took advantage of the deregulated financial services market and built up its wealth management capabilities to target baby boomers readying for retirement. Over the years it created broker-dealer Park Avenue Securities and launched Guardian Trust Company to offer trust and investment management services. Guardian also added subsidiaries in complementary fields through acquisitions, such as disability insurance specialist Berkshire Life Insurance and investment management firm RS Investments.

Guardian Life's employee benefits programs cover some 8 million members at some 120,000 companies. The benefits division also operates one of the largest dental networks in the US through its DentalGuard plan, including more than 83,000 dentists at more than 171,000 locations across the US.

Additional programs include NurseLine, Nurse Outreach, Lab Discounts, and Coverage Management.

Geographic Reach

Guardian Life's largest operating markets (by number of associates) include New York, Pennsylvania, Massachusetts, Wisconsin, and Washington State. The company offers its products in all 50 states and the District of Columbia.

Sales and Marketing

Some 3,200 financial representatives (including general agents, brokers, and wholesalers) in more than 80 agencies throughout the US distribute the company's products. Guardian has taken advantage of its stability by building up its distribution force. It added several hundred field agents in anticipation of future growth during 2012. It is also investing in technology to support its services, and it is focusing on building up its sales to small businesses and individuals.

More than 80% of Guardian's financial representatives have completed the firm's social media training program and interact with clients and partners through online channels.

Financial Performance

Through measures to ramp up its technology, Guardian continued to achieve solid financial results in fiscal 2013, with revenues increasing 37% to  $10.9 billion due to higher premiums, annuity considerations, and fund deposits, as well as growth in investment and other income earnings.

Net income also rose in 2013, rising 13% to $286 million due to higher revenues and net realized capital gains.

Strategy

To achieve growth, Guardian takes a long view of things in setting its strategic goals. Those goals include improving its products, expanding its distribution, and enhancing its service capabilities. The company selectively invests in opportunities that support its financial stability and strength in order to heighten its ability to pay competitive policyholder dividends over time. Guardian also forms strategic partnerships and has widened options for its investment customers by adding new funding vehicle options.

The company has also positioned itself for future growth and bolstered its competitive edge by preparing its group employee benefits business for post-health care reform changes. Steps taken included adding new products, enhancing support services, customizing worksite and voluntary benefit offerings, and expanding the benefit distribution networks. Additionally, Guardian added new life insurance policy options and individual disability products to expand customer options.

Like most mutual life insurers, Guardian only experienced minor losses during the economic crisis. Its conservative investment practices, which may have seemed dowdy in headier times, protected the company's holdings.

Mergers and Acquisitions

In 2013, Guardian added absence management services through the purchase of Reed Group; that acquisition bolstered the company's disability operations. The following year, the company acquired Premier Access Insurance, which provides dental coverage and care. The deal strengthened Guardian's dental PPO and HMO networks in states including California, Utah, and Nevada; it also extended its reach in the Medicaid and CHIP markets (which are expected to grow under the Affordable Care Act).

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The Guardian Life Insurance Company of America

7 Hanover Sq.
New York, NY 10004-4025
Fax: (212) 919-2170
www.guardianlife.com

Stats

  • Employer Type: Private Mutual Company
  • President and CEO: Deanna M. Mulligan
  • COO: D. Scott Dolfi
  • President and CEO: Deanna M. Mulligan

Major Office Locations

  • New York, NY

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SALARY FINDER

SALARY FINDER

Health Service Administrator

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  • 25
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  • 75
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  • 100+
Yearly Salary Range (US$ Thousands)