PHILADELPHIA--(BUSINESS WIRE)--Reliance Standard Life Insurance Company and Matrix Absence Management have rebranded as Reliance Matrix, a technology-driven absence and employee benefits company that provides financial protection and supplemental health plans for employees, while helping employers maximize productivity by managing time away from work. The two industry leaders have joined forces to bring integrated and personalized employee benefits, absence management and workforce productivity solutions to the U.S. employer market.
“Human capital is an employer’s most precious asset,” said Chris Fazzini, President and CEO of Reliance Matrix. “With changing trends, laws and market challenges, it has never been more important to find ways to optimize productivity. Our proven formula is driven by technology integration, consistent compliance and building a strong culture.”
The rebrand is the culmination of a multiyear process aimed at providing a unified experience for the employers, employees and families that Reliance Matrix already supports today. Reliance Matrix markets solutions through independent brokers, agents, consultants and technology partners nationwide.
“With a full suite of modern, market-leading solutions for all our customers, we are empowering customers to achieve their financial goals and care for what and who is most important to them,” said Mark Marsters, Chief Operating Officer at Reliance Matrix. “We are better together because of our shared legacies and expertise, and stronger because of our stability and culture.”
Reliance Standard and Matrix have worked together as sister companies since 1997, providing integrated insurance and TPA services to large employers. According to Marsters, strategic advances over the past several years have driven the access point for these services down market. Today, employers with as few as 100 covered employees are eligible to benefit from these solutions.
At the same time, the organization invested materially in technology tools aimed at empowering HR professionals, managers and employees to actively manage their corporate, as well as mandated, time away from work. One of these tools, called Absence Radar®, received a United States patent in 2021.
“Clients, customers, brokers and our technology partners will benefit from a singular brand identity and experience,” concluded Patrick Trinsey, vice president and Chief Marketing Officer. “Clear and consistent messaging, alongside a seamless, omni-channel experience, will result in an even greater degree of confidence and satisfaction with the solutions and services.”
The Reliance Matrix brand also encompasses First Reliance Standard Life Insurance Company, a New York subsidiary; and Standard Security Life Insurance Company of New York, which was acquired by Reliance Standard in January 2022.
Reliance Standard’s Retirement Services division, which is responsible for a portfolio of fixed and index annuity products it markets through independent brokers, agents, banks, and broker dealers, only underwrites policies through Reliance Standard Life Insurance Company and will therefore persist the Reliance Standard name and brand.
Visit www.RelianceMatrix.com for more information.
About Reliance Matrix
Reliance Matrix delivers employee benefit, absence management and workforce productivity solutions through the financial stability of a top-rated insurance carrier, the proven innovation of an absence TPA, and the daily commitment of thousands of team members across America. Where larger competitors offer size, we inspire confidence and long term engagement through integration, reliability and dedication to providing customized solutions.
Born in 1907, Reliance Standard Life Insurance Company is a leading provider of employee benefits, absence management and retirement savings solutions. Matrix Absence Management traces its roots to Silicon Valley at the dawn of the tech boom. Seamless and secure, we innovate and deliver products and programs to help individuals, employers, brokers and fiduciaries protect and nurture those most important to them.
Reliance Matrix is a member of the Tokio Marine Group. Tokio Marine Holdings, Inc., the ultimate holding company of the Tokio Marine Group, is incorporated in Japan and is listed on the Tokyo Stock Exchange. The Tokio Marine Group operates in the property and casualty insurance, reinsurance and life insurance sectors globally. The Group’s main operating subsidiary, Tokio Marine & Nichido Fire (TMNF), was founded in 1879 and is the oldest and leading property and casualty insurer in Japan.
The Tokio Marine Group provides support, strength, and stability to customers and communities in a world filled with risk. The group gives individuals, businesses and partners the confidence to explore new possibilities and take next steps. Tokio Marine is committed to building more resilient economies, industries and societies in a rapidly changing world.