VOLUME 14 NUMBER 15 ■ COLUMBIABUSINESSREPORT.COM
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Upfront................................. 2 SC Biz News Briefs................. 3 In Focus: The Insurance Cluster................................ 13 List: Employee Benefits Brokers............................... 15 At Work...............................29 Viewpoint............................ 31
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CHANGING NEEDS Pandemic, vaccines driving insurance innovation
By Christina Lee Knauss
W
Contributing Writer
hen the federal government unveiled new COVID-19 vaccination mandates in September, leaders at Colonial Life went to work to find solutions for employers who might feel overwhelmed by the prospect of keeping track of who in their workforce has and hasn’t gotten the shots. The result is Vaccine Verifier, a digital platform that offers a way for employers to verify vaccination status and keep track of vaccine exemptions and the testing status of non-vaccinated employees. The program launches in November.
Coming up with Vaccine Verifier is just one of the ways the Columbia-based supplemental insurance company has been working to help both its employees and customers face ongoing challenges brought on by the pandemic, according to Tim Arnold, president of Colonial Life. Arnold said adapting to change and coming up with new products and solutions quickly has been as important in the insurance industry as it has been to the rest of the economy since the pandemic hit 19 months ago. He said Colonial Life, like others in the industry, has experienced economic challenges as well as technological ones. “Many of the challenges related to COVID-19 were common across industries,
Marsh sentenced
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and the insurance industry faced a special challenge because during the height of pandemic restrictions and infections, we faced declines in new sales and increases in claim costs,” Arnold said. “We maintain significant reserves to deal with unexpected events and can support policyholders during unexpected change.” Like many other employers, Colonial Life came up with technology solutions to allow employees to work remotely during the height of the pandemic. Now, as more people go back into workplaces nationwide, Arnold said digital solutions such as Vaccine Verifier offer a way for companies to both make See INSURANCE, Page 16