Industry Innovator Scores New High-Water Mark: Reliance Matrix Logs 8 Millionth Employee Benefit/Absence Claim
There are, as the old-time serial drama used to say, eight million stories in the city. And now the same can be said for the benefits insurance industry, as Reliance Matrix, a leader in technology enabled employee absence management, recently registered its 8 millionth electronic claim submission.
Reliance Matrix was formed by the integration of Reliance Standard Life Insurance Company, founded in 1907 and rated A++ for financial strength by independent agency AM Best; and absence third party administrator (TPA) Matrix Absence Management. Reliance Matrix has been named the #1 US absence management provider by Spring Consulting Group in two consecutive biennial market surveys.
Of course, many disability and other employee benefits claims were initiated the old-fashioned way, through what we call “snail mail” today. As a small workers’ compensation claims administrator in northern California in the early 1980s, Matrix Absence Management leveraged its proximity to Silicon Valley and the passage of the groundbreaking Family and Medical Leave Act (FMLA) in 1993 to become one of the leading innovators in the employee benefits and absence management space.
