Genworth Insuarance Company is an international insurance holding company, offering mortgage, life, and long-term care insurance through various channels.
It operates in three key segments: mortgage insurance, retirement & protection, and international products and services.
Their offerings include coverage for mortgage loans, life insurance, and long-term care, with a focus on helping customers maintain their quality of life as they age.
Genworth Insuarance Company History
Genworth can trace its origins back to The Life Insurance Company of Virginia, established in 1871 with a focus on addressing the challenges associated with aging and facilitating home ownership for individuals. In 1987, Combined Insurance acquired The Life Insurance Company of Virginia, subsequently selling it to GE Capital in 1996.
In May 2004, Genworth Financial was established and underwent an extensive initial public offering (IPO) that made it a publicly-traded company that year.
Since its inception, Genworth has successfully introduced a wide range of mortgage insurance, lifestyle protection, and long-term solutions, expanding its portfolio of products and services to include offerings in various countries.
Leadership at Genworth
Thomas J. McInerney – President and CEO
McInerney is the president, director, and CEO of Genworth.
He joined the company in January 2013 after serving as a senior advisor at The Boston Consulting Group, where he provided consulting and advisory services to financial services companies in the USA and Canada.
He spent more than 30 years working in various senior roles at ING Groep NV and Aetna Inc., and he has been an active member of the American Council of Life Insurers board and Chief Executive Officer Committees.
Culture at Genworth
Genworth helps communities to become financially secure through community investment and employee giving.
It also allows employees to volunteer, and it provides sponsorships to organizations that address social issues such as homelessness and affordable housing, economic development, education, arts and culture, workforce development, and healthy aging and caregiver support.
In 2019, the Genworth Foundation provided $1.9 million in grants to 100 non-profit organizations.
Its employees also volunteered 16,000 hours and donated nearly $1.3 million to various non-profit organizations globally.
Aside from helping communities and various charities and organizations, Genworth is also committed to taking care of the environment.
It implements numerous initiatives that support environmental stability and reduces the environmental impact associated with its business activities.
Genworth Insuarance Company Products And Services
Their products and services not only assist elderly relatives in living life independently and in their own residences but also facilitate individuals in purchasing a home more quickly by providing the security of mortgage insurance.
The challenges associated with aging vary from person to person.
They provide a range of solutions to assist individuals in financing the specific long-term care they require, whether it is in their preferred setting, such as their own residence or a care facility.
When it comes to making decisions regarding home health care services, adult day care, or facility care options, the organization collaborates with Care Scout to offer the expertise of professionally trained care coordination advocates who engage directly with families.
He or she can find their own version of ‘Home Sweet Home’ closer than expected.
Regardless of their current place of residence, the team understands the joy of homeownership.
That’s why they are available to assist eligible borrowers in purchasing a house with a minimal initial payment and manageable monthly installments, all while providing mortgage insurance.
Genworth Insuarance Claims
The process of filing a claim is explained to customers by Genworth Insuarance Company , aiming to simplify it for them.
Customers are encouraged to select one of the provided product options, which will offer the necessary forms and guidance to initiate the claims filing procedure.
The issue of insurance fraud is becoming increasingly worrisome in society.
It impacts the general public by driving up insurance expenses.
Engaging in fraudulent insurance activities, such as intentionally providing false or incomplete information in an insurance application or claim, can lead to legal consequences, including criminal prosecution and financial penalties.
Genworth Insuarance Company Ratings
A.M. Best, S&P, Moody’s, and Fitch periodically assess their ratings, and it cannot be guaranteed that the current ratings will be maintained in the future.
These agencies, along with others, may evaluate the company and its insurance subsidiaries either upon request or independently.
It is important to note that these ratings are not intended to be, nor should they be considered, indicators of protection or investment value.
Therefore, one should not rely on these financial strength ratings when making investment decisions related to the company’s securities.
It is essential to understand that each of these organizations employs a distinct rating system for assessing insurers, and their ratings are not interchangeable.
Further details about the Financial Strength Rating Categories can be found below for a more comprehensive understanding.
Genworth Insuarance Company Customer Services Contacts
At Genworth, their dedication lies in the protection of personal information.
They extend an invitation to send an email with comments and questions about policy or contract matters, but they strongly advise against including sensitive details, like policy numbers or social security numbers, in the email.
If you have policy/contract specific inquiries, you may contact us at: 888 GENWORTH (888.436.9678), Monday – Thursday 8:30 AM – 6 PM ET, Friday 9 AM – 6 PM ET. We look forward to assisting you.
For service and policy questions
Phone: 800.221.9501 Fax: 800.350.2038
Phone: 888.322.4629 Fax: 800.350.2038
Phone: 800.352.9910 Fax: 800.350.2038
Phone: 888.325.5433 Fax: 888.325.3299
Long Term Care:
Phone: 800.456.7766 Fax: 800.876.8220
Total Living Coverage®:
Phone: 866.446.9852 Fax: 888.296.1081
Phone: 800.444.5664 Fax: 800.592.4434
Phone: 877.825.9337 Fax: 727.373.4549*
* Medicare supplement is administered by Aetna Life Insurance Company and its affiliates.
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