Economic Moat

Unum Group has no economic moat

Employers can choose other insurers when renewing workplace benefit plans, and several large carriers offer similar coverage, so rivals can compete for Unum’s customers. Unum’s name and customer base do not by themselves make its benefits more valuable or allow it to charge more.

Why Unum Group has no moat

Employers can switch

No user network

Brand does not secure a premium

The explanation behind each reason