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March 7, 2005
GUARDIAN REPORTS SIGNIFICANT INCREASE IN DENTAL SALES IN 2004
Company Links Success to Product Portfolio and Extensive Provider Network
NEW YORK, N.Y., March 7, 2005 — The Guardian Life Insurance Company of America (Guardian) today reported significant sales growth for its Group Dental insurance products in 2004. Guardian links the success to the diversity of its product portfolio and to maintaining one of the industry's most extensive nationwide dental networks with more than 70,000 provider locations.
According to the U.S. Group Dental Plans Third Quarter 2004 Sales Survey, jointly published by the National Association of Dental Plans and LIMRA International, Guardian's 2004 sales grew 17 percent to $260 million from $220 million in 2003, while industry sales decreased by 13 percent. For the fourth year in a row, Guardian was the #1 named company in new employer groups sold over the first nine months of the year. Guardian was also #1 for the second year in a row in annualized new sales premium, for insured indemnity and PPO combined, written over the first nine months.
In addition, the survey found that Guardian was #1 in voluntary dental for the industry, accounting for 35% of the survey's voluntary sales. Guardian sold more voluntary PPO business than all other companies combined and over two and a half times as much as the next largest writer.
"Guardian is a recognized leader in this market. Today, more than six million people in the United States benefit from our wide product portfolio, product flexibility, analytical capabilities, and one of the largest national PPO networks," said Stuart J. Shaw, Vice President, Group Products, Guardian. "In addition, we have an ongoing commitment to continue growing our dental network through an aggressive, localized recruiting strategy. Fifteen percent of the dentists who joined our network last year came from this initiative.
Guardian recently announced several new plans and key enhancements to its Group Dental product portfolio, including two new DentalGuard plans, a Maximum Rollover feature and a Monthly Switch option. The Maximum Rollover option allows DentalGuard members to roll over a portion of their unused annual maximum into a personal Maximum Rollover Account (MRA). DentalGuard Basic and Basic Plus were created for those companies that need lower-cost dental coverage, as an alternative to Guardian's rich DentalGuard plan. Unlike traditional dual choice plans, which allow only annual election changes, Guardian's new Monthly Switch option enables employees to switch between a PPO and a DHMO plan every month.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2003, Guardian and its subsidiaries had $37.2 billion in assets. With more than 5,000 employees, over 2,800 financial representatives and nearly 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information on Guardian can be obtained at: www.guardianlife.com.
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