Amalgamated Life Insurance Company Dedicated to Providing World Class Insurance for Working People
February 13, 2018
Amalgamated Life Insurance Company began its long and healthy tenure in the insurance industry with a noble goal: to help immigrant garment workers achieve financial security.
Now, after 75 years and 42 consecutive years of receiving “A” ratings from the A.M. Best Company (a trusted source of insurance data), the company continues to positively impact the lives of millions of working people throughout the United States. Company leadership credits an exemplary line-up of products, a fiscally conservative approach, and disciplined underwriting standards—along with excellent customer service—as the drivers of the company’s success.
Robust Product Line
“Over the course of our history, Amalgamated Life has consistently met the needs of those we serve,” says John Thornton, Executive Vice President of Sales and Marketing. “We’ve done that by staying ahead of the curve and knowing what types of products are needed and when.”
Amalgamated Life is market responsive in the area of “a la carte” insurance products offered through employers and unions to their employees and members and their families. Thornton cites as an example the need for products to protect against the increased probability of age-related accidents and illnesses among an aging population of baby boomers. The result is an increased selection of insurance products, which are sold alongside Amalgamated Life’s group life, disability, and medical stop loss insurances.
“Employers used to offer one choice of plan—which is not really a choice at all. Today, individuals are paying more toward the purchase of their insurance than ever before, and with that autonomy comes the ability to pick and choose from a large variety of ancillary worksite products such as accident, critical illness, dental, disability, and whole life insurance, among others—all products that have seen an uptick in popularity,” Thornton explains.
Fiscally Conservative Approach and Unparalleled Customer Service
Paul Mallen, President and Chief Executive Officer, points to the company’s focus on capital preservation, disciplined underwriting standards, and superior customer service as the drivers of Amalgamated Life’s successful 75 year history.
“We’re smaller, more nimble, and have a greater degree of flexibility, especially when it comes to the personalized service we provide to customers,” he says. “Our award-winning call center takes great care to respond to the needs of our customers.
“But more importantly, we abide by a long-standing history and culture of caring about the people we help achieve financial security, by doing what is right for employers, employees, union members, and their families,” Mallen continues. “It’s the hallmark of where we’ve been and where we will remain.”
A Culture of Giving
The team at Amalgamated Life believes in giving back and making a positive difference in the communities in which employees
live and work.
“Amalgamated Life’s Charities Committee is employee driven. The committee is made up of nonexecutive team members who have the opportunity to flex their social consciousness by determining where team efforts will be focused,” says Paul Mallen. “Past recipients of both our time and money include Operation Backpack, Habitat for Humanity, City Harvest Food Bank, and victims of natural disasters.”