Prepare to negotiate - know your stuff
Group Life & Health Insurance
Renewal Strategies
Claims Experience
In most cases your costs are a direct result of past and projected claims.
The greatest results can be achieved though reviewing your plan design to make sure that it is most appropriate to achieving the objectives of your organization.
The approach you take to the renewal depends greatly on the underwriting arrangement that generated your renewal.
Take the time to make sure you are accepting the appropriate level of risk.
Method of sharing the risk:
- fully insured
- non-refund prospectively experience rated
- refund prospectively experience rated
- retention accounting
- administrative services only
- self-administered
- pooling limits
Renewal Accounting
- Expense Factors
- Claim Reserves
- Projected Inflation
- Interest
- Taxes
Renewal Pricing
- Pooled Rates
- Experience Rated Benefits
- Inflation
- Trends
- Credibility
Privacy
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