Unum Profits While Ailing Workers “Gut it Out”
In an interview with Andrew Frey of Bloomberg Businessweek, Unum Group CEO Thomas Watjen said that the economic slump has resulted in fewer disability claims being filed, with workers suffering from lower back pain, nervous conditions and other “more discretionary” conditions more likely to “gut it out” than they would in better economic times.
You can’t make a windfall on these products. It’s not like you can go on claim and make an enormous amount of money.
While workers are gutting it out, Unum has reported five straight quarterly profit increases.