Colonial Insurance is an American insurance company, based in Columbia, South Carolina. This long established insurance company specialises in employee insurance benefits. This article outlines Colonial insurance and its various offerings.
History of Colonial Insurance
Insurance for employees
Colonial Insurance was officially launched in 1939, although its owner Edwin F. Averyt had been operating the company under a different name from 1929. Colonial from its very beginning focused on providing insurance to employees. Deduction from wages
The company rapidly developed a sales force of insurance brokers who would provide insurance to employees of various companies in a novel way: via deduction from wages. Colonial insurance was the first insurance company to do this. This popular way of paying for insurance really took off and was greatly assisted in the 1980's by new insurance products which allowed for workers to save on tax via insurance policies. Advancement in the 1990's came with the introduction of laptop computers (again an insurance first) and an automated selling system which helped the brokers to extend a superior service to the customer. Presently (June 2011), Colonial employees over 1,100 at its headquarters in Columbia, and has 5,400 brokers across America. These brokers serve 60,000 companies in 49 states. Furthermore, Colonial is rated in the Fortune 500 list of companies.
Colonial Insurance products
Colonial Insurance, provides not only a variety of insurance packages for today's worker, they also provide a vision of good employee care. Their latest proposal in this area is known as the "Harmony enrolment system", and its goal is to provide a more consumer orientated service. This is contrary to the traditional approach of providing endless unreadable insurance literature. The new focus is towards providing consumer-orientated products which emphasise on benefits, education and value.
Colonial insurance provides the following insurance produces:
Accident - which pays out in case of accident.
Cancer and critical Illness - which pays out in the case of cancer or other life threatening conditions.
Disability - which provides financial assistance in cases whereby the worker receives some form of permanent disability.
Hospital confinement Indemnity - which assists with hospital bills.
Life insurance - which pays out, a sum of money in the case of death. This policy acts as an accident life insurance policy as well as a general life insurance policy.
Why buy Insurance from Colonial?
Colonial is a specialist insurance company, which creates packages which are particularly suited to the needs of America's employees, whether blue or white collar. Its Countrywide brokerage service, integrated sales automation system and “Harmony enrolment system”, makes the process of acquiring insurance very painless. Finally, Colonials' consumer oriented vision, whereby the insured is provided with a wide choice make Colonial, a company worth, considering for employee insurance programs.