MetLife and Travelers Renew Agreement to Provide Integrated Absence Management Solution
October 19 2006 - 1:00PM
Business Wire
Effective absence management programs have multiple workplace
benefits including workers compensation, short-term and long-term
disability, and Family and Medical Leave Act (FMLA) administration
managed through an integrated service. Therefore, MetLife and
Travelers are pleased to announce the renewal of their agreement to
offer Synchrony� absence management services. Synchrony combines
group disability insurance and FMLA administration from MetLife
with workers compensation insurance and claim administration
services from Travelers to deliver one, integrated approach that
can help companies better manage employee absences whether due to
occupational or non-occupational events and assist employees in
returning to work as soon as medically appropriate. First offered
by the two companies in 1998, Synchrony programs currently cover
more than 180,000 employees. �MetLife is pleased to reaffirm our
relationship with Travelers. The Synchrony offering provides
affected employees with individually customized action plans and
case management which, in turn, can help employers� achieve their
employee satisfaction and retention objectives,� says Michael
Fradkin, vice president, MetLife Disability. �The integrated claim
and absence management services can also help employers decrease
their direct and indirect costs for employee absences.� According
to Bill Malugen, president of Travelers National Accounts business,
�Synchrony is an example of our continued investment in claim
administration services designed to help customers achieve the best
possible outcomes by integrating service delivery and focusing on
shared objectives.� Key features of the Synchrony model include:
Two customer leaders for each Synchrony customer � a disability
point person and a workers compensation point person � to help
implement and manage programs; Experienced claim and medical
specialists collaborate on case management and return-to-work
plans; A single, Travelers nurse lead for all concurrent
occupational and non-occupational claims; �Real-time� data
availability, Web- based tools for file review and electronic
access to reports; Claim reporting over the phone or internet 24
hours a day/7 days a week; Integrated workers compensation and
disability claim outcome reporting delivered to customers. For more
information about Synchrony services visit www.insynchrony.com.
MetLife is the number one group disability insurer based on new
sales premiums and equivalents, as of year-end 2005. MetLife�s
group disability income insurance programs provide comprehensive
coverage and flexible solutions that are valuable to both employees
and employers. MetLife is a subsidiary of MetLife, Inc. (NYSE:MET),
a leading provider of insurance and financial services with
operations throughout the U.S. and the Latin America, Europe and
Asia Pacific regions. Through its domestic and international
subsidiaries and affiliates, MetLife, Inc. reaches more than 70
million customers around the world and MetLife is the largest life
insurer in the U.S. (based on life insurance in-force). The MetLife
companies offer life insurance, annuities, auto and home insurance,
retail banking and other financial services to individuals, as well
as group insurance, reinsurance and retirement and savings products
and services to corporations and other institutions. For more
information, please visit www.metlife.com. Travelers is a business
of The St. Paul Travelers Companies, Inc. (NYSE:STA), a leading
property casualty insurer selling primarily through independent
agents and brokers. The company�s diverse business lines offer its
global customers a wide range of coverage in both the personal and
commercial settings, including automobile, homeowners,
construction, small business, oil and gas, ocean marine, financial
and professional services, global technology and public sector
services. St. Paul Travelers is ranked 85 in the Fortune 500, with
2005 revenues of $24.4 billion and total assets of $113.2 billion.
The company has approximately 32,000 employees. Synchrony� is
integrated absence management, which includes group disability
insurance or services from MetLife, workers compensation or
services from The Travelers Indemnity Company and/or its property
casualty affiliates, and may include family and medical leave
administration from MetLife. Synchrony is a registered trademark of
Travelers Insurance Group Holdings Inc., and MetLife. Metropolitan
Life Insurance Company, 200 Park Avenue, New York, NY 10166.
Travelers Insurance Group Holdings Inc., One Tower Square,
Hartford, CT, 06183. Effective absence management programs have
multiple workplace benefits including workers compensation,
short-term and long-term disability, and Family and Medical Leave
Act (FMLA) administration managed through an integrated service.
Therefore, MetLife and Travelers are pleased to announce the
renewal of their agreement to offer Synchrony(R) absence management
services. Synchrony combines group disability insurance and FMLA
administration from MetLife with workers compensation insurance and
claim administration services from Travelers to deliver one,
integrated approach that can help companies better manage employee
absences whether due to occupational or non-occupational events and
assist employees in returning to work as soon as medically
appropriate. First offered by the two companies in 1998, Synchrony
programs currently cover more than 180,000 employees. "MetLife is
pleased to reaffirm our relationship with Travelers. The Synchrony
offering provides affected employees with individually customized
action plans and case management which, in turn, can help
employers' achieve their employee satisfaction and retention
objectives," says Michael Fradkin, vice president, MetLife
Disability. "The integrated claim and absence management services
can also help employers decrease their direct and indirect costs
for employee absences." According to Bill Malugen, president of
Travelers National Accounts business, "Synchrony is an example of
our continued investment in claim administration services designed
to help customers achieve the best possible outcomes by integrating
service delivery and focusing on shared objectives." Key features
of the Synchrony model include: -- Two customer leaders for each
Synchrony customer -- a disability point person and a workers
compensation point person - to help implement and manage programs;
-- Experienced claim and medical specialists collaborate on case
management and return-to-work plans; -- A single, Travelers nurse
lead for all concurrent occupational and non-occupational claims;
-- "Real-time" data availability, Web- based tools for file review
and electronic access to reports; -- Claim reporting over the phone
or internet 24 hours a day/7 days a week; -- Integrated workers
compensation and disability claim outcome reporting delivered to
customers. For more information about Synchrony services visit
www.insynchrony.com. MetLife is the number one group disability
insurer based on new sales premiums and equivalents, as of year-end
2005. MetLife's group disability income insurance programs provide
comprehensive coverage and flexible solutions that are valuable to
both employees and employers. MetLife is a subsidiary of MetLife,
Inc. (NYSE:MET), a leading provider of insurance and financial
services with operations throughout the U.S. and the Latin America,
Europe and Asia Pacific regions. Through its domestic and
international subsidiaries and affiliates, MetLife, Inc. reaches
more than 70 million customers around the world and MetLife is the
largest life insurer in the U.S. (based on life insurance
in-force). The MetLife companies offer life insurance, annuities,
auto and home insurance, retail banking and other financial
services to individuals, as well as group insurance, reinsurance
and retirement and savings products and services to corporations
and other institutions. For more information, please visit
www.metlife.com. Travelers is a business of The St. Paul Travelers
Companies, Inc. (NYSE:STA), a leading property casualty insurer
selling primarily through independent agents and brokers. The
company's diverse business lines offer its global customers a wide
range of coverage in both the personal and commercial settings,
including automobile, homeowners, construction, small business, oil
and gas, ocean marine, financial and professional services, global
technology and public sector services. St. Paul Travelers is ranked
85 in the Fortune 500, with 2005 revenues of $24.4 billion and
total assets of $113.2 billion. The company has approximately
32,000 employees. Synchrony(R) is integrated absence management,
which includes group disability insurance or services from MetLife,
workers compensation or services from The Travelers Indemnity
Company and/or its property casualty affiliates, and may include
family and medical leave administration from MetLife. Synchrony is
a registered trademark of Travelers Insurance Group Holdings Inc.,
and MetLife. Metropolitan Life Insurance Company, 200 Park Avenue,
New York, NY 10166. Travelers Insurance Group Holdings Inc., One
Tower Square, Hartford, CT, 06183.
St. Paul (NYSE:STA)
Historical Stock Chart
From Jun 2024 to Jul 2024
St. Paul (NYSE:STA)
Historical Stock Chart
From Jul 2023 to Jul 2024