SOURCE: Matrix Absence Management

May 09, 2016 09:49 ET

Matrix Absence Management Names Tim Rarick Vice President, Product Strategy & Solutions

Will Drive Expansion in Workers' Compensation Markets

PHOENIX, AZ--(Marketwired - May 09, 2016) -  Matrix Absence Management, Inc., (Matrix), a leader in helping employers proactively manage employee absence, productivity and related payments, has named industry veteran Tim Rarick vice president, product strategy and solutions, reporting to Matrix President Kenneth Cope. This is a new position.

Matrix integrates short- and long-term disability, workers' compensation, return-to-work services and personal/family and medical leave programs to help employers realize time, efficiency and productivity gains.

An early leader in the outsourced absence management space, Matrix was founded in 1987 as a workers' compensation administrator in San Jose, California.

A seasoned executive with 25 years experience in the benefits space, Rarick assumes leadership of Matrix' product expansion strategy, developing and implementing key growth areas. His initial focus will include expanding the workers' compensation product and distribution to a best-in-class national practice.

Rarick was most recently President of CWI Benefits, a South Carolina based third party administrator (TPA) and wholly owned division of Patriot National. Prior to that, he held management positions at several top-tier benefits insurance companies and administrators including Aetna, Kemper National and Broadspire. He has built and managed mission critical service operations including account management and implementation and was responsible for distribution and delivery of fully integrated absence management services, for which Matrix is known and well regarded.

"We have identified several key areas in which we want to grow in size and sophistication," said Ken Cope, president of Matrix. "Notable among these is dramatically evolving our existing workers' compensation services. Tim is a proven leader, innovator and manager not only in our space but in the specific niches where we can move confidently from market player to market leader. We are excited to have him join the Matrix leadership team."

Rarick lives and will be based in South Florida

About Matrix Absence Management

Based on the premise that employees make up the most costly - and valuable - of a company's resources, Matrix focuses on reducing the lost productivity suffered when employees miss work for any reason. This service portfolio, called Absence Solutions®, streamlines benefit delivery, simplifies administration and reduces overall benefit costs for companies nationwide employing more than 2 million men and women. Headquartered in Phoenix, AZ, Matrix has service locations nationwide, including claims hubs in northern California; Phoenix, AZ; Hawthorne, NY; Austin, TX; and Portland, OR.

Matrix Absence Management and sister company Reliance Standard Life Insurance Company are members of the Tokio Marine Group.Tokio Marine Holdings, Inc., the ultimate holding company of the Tokio Marine Group, operates in the property and casualty insurance, reinsurance and life insurance sectors globally. The Group's main operating subsidiary, Tokio Marine & Nichido Fire (TMNF), was founded in 1879 and is the oldest and leading property and casualty insurer in Japan.

For more information, visit www.matrixcos.com or call (800) 866-2301.

PHOTO CAPTION: TIM RARICK, MATRIX ABSENCE MANAGEMENT

Image Available: http://www.marketwire.com/library/MwGo/2016/5/9/11G097248/Images/Rarick_Pic_2_1-39dba0bd334090f58a849233e2263533.jpg

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