Sun Life Financial is creating a new unit in South Portland, Maine, that will help health insurers, managed care companies and other health coverage providers add new product lines.
Sun Life says its new FullscopeRMS business will help health carriers get into the stop-loss market. Fullscope RMS will also help carriers get into the life insurance, voluntary benefits and absence management markets.
Sun Life acquired Disability RMS — a benefits plan services business with roots in the disability insurance market — from Assurant Inc. in 2016.
Sun Life has been a major player in the U.S. health stop-loss market under its own brand name for many years.