Matrix Absence Management
Matrix Absence Management, Inc. provides absence management, employee benefits, and retirement savings solutions to US employers, brokers, and individuals through the licensed carriers of the Tokio Marine Group-owned Reliance Matrix. The company operates as both a Third Party Administrator and insurance carrier, with proprietary, patented absence management technology.
- Company typePrivate
- Founded1907
- HeadquartersPhoenix, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Matrix Absence Management does
Matrix Absence Management, Inc. operates as the absence services arm of Reliance Matrix, a multi-entity insurance group doing business under the Reliance Standard Life Insurance Company umbrella and owned by Tokio Marine Group. The company provides employee benefits, absence management, and workforce productivity solutions to US employers, complemented by retirement savings products (fixed and indexed annuities) issued through Reliance Standard Life Insurance Company and affiliates. It is licensed across all 50 states, the District of Columbia, Puerto Rico, the US Virgin Islands, and Guam through four distinct legal entities (Reliance Standard Life, First Reliance Standard Life, Standard Security Life of New York, and Matrix Absence Management, Inc.), with the New York/Delaware market served by separately licensed carriers.
The operating model is dual: Matrix Absence Management functions as a Third Party Administrator (TPA) delivering absence management services, while sister entities serve as licensed insurance carriers underwriting the underlying disability, life, and specialty coverages. The platform is anchored by proprietary, patented absence management technology tools and integrates with Human Capital Management and financial platform partners; a public developer portal signals API-driven connectivity. A coast-to-coast workforce of more than 2,400 individuals staffs sales, service, and claims hubs, and the company recently promoted Gordon Smith to Chief Customer Experience Officer to lead customer-facing technology experiences.
Revenue is generated through recurring insurance premiums on employee benefits, absence, and specialty coverages, fees on TPA-administered absence programs, and premiums on fixed and indexed annuities. Go-to-market combines a nationwide broker/agent distribution channel, direct enterprise sales to large employers, and self-service digital portals for individuals and families. Distribution into the healthcare vertical is deepened through a strategic partnership with MGIS to serve doctor group practices. The company holds an A++ (Superior) financial strength rating from AM Best (affirmed November 2022) and was recognized as the top US absence management provider in 2023.
Matrix Absence Management firmographics
Firmographics- Name
- Matrix Absence Management
- Legal name
- Matrix Absence Management, Inc.
- Website
- https://matrixcos.com
- Company type
- Private
- Founded year
- 1907
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Matrix Absence Management, Inc. provides absence management, employee benefits, and retirement savings solutions to US employers, brokers, and individuals through the licensed carriers of the Tokio Marine Group-owned Reliance Matrix. The company operates as both a Third Party Administrator and insurance carrier, with proprietary, patented absence management technology.
- Ownership category
- akta.pro rank
Matrix Absence Management industry classification
Industry- Product category
- Absence Management Services
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Disability & Leave Administration (STD/LTD/FMLA/Paid Leave) (HLAEALAM)
- akta.pro secondary industries
- Self-Funded Employer Plan TPA (ASO Administration) (HLAEALAA), Compliance, Reporting & Regulatory Administration (ERISA/ACA/No Surprises) (HLAEALAJ), Ancillary Benefits TPA (Dental/Vision/Life/Accident/Critical Illness) (HLAEALAN), Individual Disability Income Insurance (Non-Group) (FSAIAIAA)
Keywords
Where Matrix Absence Management is headquartered
LocationHeadquarters
- HQ city
- Phoenix
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Matrix Absence Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Employee Benefits & Absence Management Insurance Premiums: Revenue generated through employee benefit insurance products, absence management services, and related coverage products. The company operates as both an insurance carrier and TPA (Third Party Administrator) for absence management.
- Retirement Savings Products: Fixed and indexed annuities for individuals seeking to preserve capital and retirement income with guaranteed returns. Products distributed through a nationwide network of partner institutions and advisors.
- Specialized Insurance Programs: Disability and specialty coverages offered through the MGIS partnership for doctor group practices, representing a specialized vertical market revenue stream.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Matrix Absence Management product offering
Product offeringCore offering
Matrix Absence Management is an insurance carrier and third-party administrator (TPA) that delivers employee benefits, absence management, and workforce productivity solutions to employers, brokers and fiduciaries. The company provides statutory disability and paid family leave compliance administration, claims processing, and disability and specialty coverages, complemented by a portfolio of retirement savings products (fixed and indexed annuities) under its parent entity Reliance Standard Life Insurance Company. Operations are supported by proprietary benefits tools with patented absence management technology and advanced integrations with HCM and financial platforms.
Product overview
Reliance Matrix operates as a dual-segment organization offering employee benefits and absence management solutions alongside retirement services. The Employee Benefits & Absence Management division provides customized absence management and workforce productivity programs delivered through the financial stability of a top-rated insurance carrier and the proven innovation of an absence TPA. The Retirement Services segment offers fixed and indexed annuities through Reliance Standard Life Insurance Company for individuals planning for retirement income preservation. Both segments are supported by proprietary benefits tools and advanced integrations with HCM and financial platform partners.
Differentiator
Problem solved
Functional benefit
Products and services
- Employee Benefits & Absence Management Delivers employee benefit, absence management and workforce productivity solutions through the financial stability of a top-rated insurance carrier and the innovation of an absence TPA, providing customized solutions for employers, brokers and fiduciaries including statutory disability and paid family leave administration.
- Retirement Services (Fixed and Indexed Annuities) Offers a portfolio of fixed and indexed annuities for individuals seeking to preserve capital and retirement income with guaranteed returns, backed by a strong balance sheet and diversified investment strategy, distributed through a nationwide network of partner institutions and advisors.
- Statutory Disability and Paid Family and Medical Leave Compliance Provides compliance and administration solutions for state-mandated statutory disability and paid family and medical leave laws across all licensed states, leveraging the company's deep regulatory expertise and licensed presence in all 50 states, DC, Puerto Rico, US Virgin Islands and Guam.
- Specialized Disability and Specialty Coverages for Doctor Group Practices Industry-leading disability and specialty coverages offered to doctor group practices across all medical settings and specialties, delivered through the strategic partnership with MGIS to address specialized coverage needs unique to medical professionals.
Quantifiable outcome
- Top US absence management provider - market leadership position in 2023
Companies that use Matrix Absence Management
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Matrix Absence Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Matrix Absence Management partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- MGIScorePartnership with MGIS, a leading national insurance program manager that builds specialized insurance programs for doctors. The collaboration offers industry-leading disability and specialty coverages to doctor group practices in all settings and specialties. MGIS has partnered with select insurance carriers for more than 50 years, and Reliance Matrix contributes its recognized benefits and absence leadership in the healthcare segment. Together, the partnership represents the gold standard for group benefits solutions for doctors.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Matrix Absence Management competitors and assessment
Company assessmentDirect peers
- Unum Group: Unum is a leading provider of group disability, life, and absence management benefits in the US, with a dedicated Unum Leave Solutions TPA unit. Direct overlap with Matrix Absence Management in employer disability and leave administration, including statutory paid leave compliance.
- Sedgwick: Sedgwick is a major third-party administrator of absence management (FMLA, ADA, paid leave) and integrated disability programs for employers. Highly comparable to Matrix Absence Management's TPA-side business, especially for self-funded employer plans.
- MGIS: MGIS is a national insurance program manager specializing in disability and specialty coverages for doctor group practices and the strategic partner of Reliance Matrix for the healthcare vertical. Comparable because it operates in the same specialty doctor-group insurance space through its carrier partnerships.
Broad incumbents
- Lincoln Financial Group: Lincoln Financial offers group disability, life, dental, and retirement products alongside absence management capabilities. A larger, broader-line incumbent competing with Reliance Matrix for mid- and large-employer group benefits accounts.
- MetLife: MetLife is a top-tier global insurance carrier offering group disability, absence management (via MetLife Away from Work), life, dental, and retirement products. Overlaps with Reliance Matrix across group benefits and absence, with greater scale and brand reach.
- The Hartford: The Hartford's Group Benefits division provides group disability (short- and long-term), leave management, life, and absence solutions to employers. Comparable in group disability and FMLA administration, with a strong middle-market presence.
- Prudential Financial: Prudential's Group Insurance business offers group disability, absence management (Group Disability and Absence Solutions), and retirement products. A broad-line incumbent with comparable group benefits and absence offerings, particularly for larger employers.
- Cigna Group Insurance: Cigna's Group Insurance segment offers disability, life, accident, and absence administration products to employers alongside its dominant health insurance franchise. A large incumbent overlapping in disability and integrated absence solutions.
- Sun Life U.S. Sun Life U.S. provides group disability, absence management (including FMLA administration), dental, vision, and life insurance products. A direct competitor in the group disability and absence space with strong broker distribution.
- Guardian Life: Guardian offers group disability, dental, life, vision, and absence management solutions for employers. A mutual insurer with comparable group benefits offerings and mid-market employer focus.
Market position
Strengths1 record
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Matrix Absence Management social profiles
Digital presenceMatrix Absence Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Matrix Absence Management leadership team
Management profileNumber of profiles
Profiles2 records
Matrix Absence Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Matrix Absence Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Matrix Absence Management
What does Matrix Absence Management do?
Matrix Absence Management is an insurance carrier and third-party administrator (TPA) that delivers employee benefits, absence management, and workforce productivity solutions to employers, brokers and fiduciaries. The company provides statutory disability and paid family leave compliance administration, claims processing, and disability and specialty coverages, complemented by a portfolio of retirement savings products (fixed and indexed annuities) under its parent entity Reliance Standard Life Insurance Company. Operations are supported by proprietary benefits tools with patented absence management technology and advanced integrations with HCM and financial platforms.
Is Matrix Absence Management a public or private company?
Matrix Absence Management is a private company. It is classified as corporate owned and is currently operating.
When was Matrix Absence Management founded?
Matrix Absence Management was founded in 1907. It employs 501 to 1,000 people.
Where is Matrix Absence Management based?
Matrix Absence Management is headquartered in Phoenix, United States, in the North America region.
How does Matrix Absence Management make money?
Three revenue lines are on record. Employee Benefits & Absence Management Insurance Premiums are the primary driver. The others are retirement Savings Products and specialized Insurance Programs.
Who are Matrix Absence Management's main competitors?
Direct peers on record are Unum Group, Sedgwick and MGIS. Broad incumbents are Lincoln Financial Group, MetLife, The Hartford, Prudential Financial, Cigna Group Insurance, Sun Life U.S. and Guardian Life.
Does Matrix Absence Management have an API?
Yes. Matrix Absence Management exposes a public API. Developer documentation is at developer.reliancematrix.com.
What industry is Matrix Absence Management in?
Matrix Absence Management's product category is Absence Management Services. Its primary akta.pro industry code is HLAEALAM, Disability & Leave Administration (STD/LTD/FMLA/Paid Leave), with a secondary code of HLAEALAA, Self-Funded Employer Plan TPA (ASO Administration). Its NAICS code is 524292 and its SIC code is 6321.