Company Summary
Headquartered in Carmel, IN, CNO Financial Group Inc. is a top-tier holding company for a group of insurance companies operating throughout the U.S., which develops, administers and markets supplemental health insurance, annuity, individual life insurance and other insurance products. It distributes these products through three distribution channels: career agents, professional independent producers and direct marketing. Founded in 1979, Conseco Inc. began operations in 1982, going on to become a public company in 1985. It changed its name to CNO Financial Group Inc. on May 11, 2010.
The company announced its business transformation in January 2020 as a result of which it presently reports under two divisions, namely Consumer and Worksite to allow cross-channel efficiencies and serve customers better. Earlier, it used to report via three operating segments, such as The Bankers Life, The Washington National, The Colonial Penn and Long Term Care- Run Off.
The Consumer Division: This includes consumer engagement over the phone besides online and face-to-face interaction with agents or via a combination of sales channels. This division gains traction from agent sales force and leading direct-to-consumer business with experience in advertising, web/digital and call center support. In 2023, the Consumer Division field new annualized premiums rose 16% YoY.
The Worksite Division: This division focuses on worksite and group sales for businesses, associations and other membership groups, communicating with customers at their workplace. With this division, the company focuses on high-growth business. The unit also allows the company to gain traction from the recent buyout of Web Benefits Design Corporation. In 2023, the Worksite Division new annualized premiums rose 29% YoY.