This document discusses group insurance strategies and approaches. It defines group insurance as insurance contracts for groups of 10 or more people with similar characteristics. Group insurance provides optional or compulsory coverage for members or employees through an insurance contract between the insurer and an organization rather than individual contracts. Examples of typical affinity groups insured through associations or employee benefit programs are provided from D.A.S. operations in the UK, Canada, Italy, and Switzerland. Decisive elements in insuring groups include selecting groups based on risk level and pricing individual elements of coverage according to expected claims frequency and costs.
The document provides information about the Aon Master Trust Personal Super, a superannuation fund product. It summarizes that it is for individuals, the self-employed, and organizations with less than five employees. It offers investment and insurance options to suit members' needs. Members can choose from different types of insurance coverage and investment options to suit their individual needs and circumstances.
This is a sample report of the Employee Benefit bench-marking survey conducted by SecureNow Insurance Broker.
You need to fill the survey to get free access to the actual full report.
The survey can be accessed at: http://goo.gl/nHL3R
ClaimLinx is a benefits administration company that provides consulting services to help companies lower their healthcare costs through innovative plan designs. They utilize a tax law that allows employers to purchase lower-cost insurance plans and reimburse employees' medical costs directly. This can reduce costs by 10-80% compared to traditional benefits. Several clients provide testimonials praising ClaimLinx for the significant money they have saved their companies through this approach. ClaimLinx has over 6,000 members nationwide and helps companies design customized benefits plans to meet their needs.
Auto-Owners Insurance Group enjoyed a successful 2005, with over $4.5 billion in net written premiums, an increase of over $112 million from 2004. The Group's companies received top financial ratings from A.M. Best and Demotech and were recognized for consistent performance over many years. Auto-Owners opened two new offices and continued construction on a regional office to better serve its growing customer base in 24 states.
TAC$-Advantage<sup>®</sup>
Group Term Life Insurance
TransAccident<sup>®</sup>
Group Off-the-Job Accident Insurance with AD&D Benefit
and Accident and Sickness Disability Income Benefit
JLT is an international group of risk specialists and employee benefits consultants that offers insurance broking, risk management, and employee benefits services. It has over 5,500 highly skilled employees working in over 100 offices across 36 countries. JLT provides customized solutions to complex risks and benefits needs for global companies while also recognizing each client's unique needs. It has the scale to deliver global services but maintains an independent and flexible approach.
An independent insurance broker can offer physicians a variety of individual disability insurance options to protect their income in case they are unable to work due to accident or illness. As brokers represent multiple insurers, they can customize a plan with important features like own occupation definition of disability, cost of living adjustments, and mental health coverage. Disability insurance is important for physicians given statistics that nearly 3 in 10 20-year-olds will become disabled before age 67 and over 1 in 5 workers will have a long-term disability during their career. Meeting with a broker can help review coverage needs and identify discounts for optimal income protection.
Wall Street Journal- Growing Appeal Of Disability Insurancegreglarge
Disability insurance sales are rising as more affordable "guaranteed renewable" policies become popular. These policies are growing at 8% annually and allow employers to offer private disability coverage to workers for 20% less than individual policies. While these policies provide less protection than older noncancelable policies, they are significantly cheaper. The growing appeal also stems from more employers offering private disability plans to workers and rising disability rates as the workforce ages and lives longer with chronic illnesses.
The document provides information about the Aon Master Trust Personal Super, a superannuation fund product. It summarizes that it is for individuals, the self-employed, and organizations with less than five employees. It offers investment and insurance options to suit members' needs. Members can choose from different types of insurance coverage and investment options to suit their individual needs and circumstances.
This is a sample report of the Employee Benefit bench-marking survey conducted by SecureNow Insurance Broker.
You need to fill the survey to get free access to the actual full report.
The survey can be accessed at: http://goo.gl/nHL3R
ClaimLinx is a benefits administration company that provides consulting services to help companies lower their healthcare costs through innovative plan designs. They utilize a tax law that allows employers to purchase lower-cost insurance plans and reimburse employees' medical costs directly. This can reduce costs by 10-80% compared to traditional benefits. Several clients provide testimonials praising ClaimLinx for the significant money they have saved their companies through this approach. ClaimLinx has over 6,000 members nationwide and helps companies design customized benefits plans to meet their needs.
Auto-Owners Insurance Group enjoyed a successful 2005, with over $4.5 billion in net written premiums, an increase of over $112 million from 2004. The Group's companies received top financial ratings from A.M. Best and Demotech and were recognized for consistent performance over many years. Auto-Owners opened two new offices and continued construction on a regional office to better serve its growing customer base in 24 states.
TAC$-Advantage<sup>®</sup>
Group Term Life Insurance
TransAccident<sup>®</sup>
Group Off-the-Job Accident Insurance with AD&D Benefit
and Accident and Sickness Disability Income Benefit
JLT is an international group of risk specialists and employee benefits consultants that offers insurance broking, risk management, and employee benefits services. It has over 5,500 highly skilled employees working in over 100 offices across 36 countries. JLT provides customized solutions to complex risks and benefits needs for global companies while also recognizing each client's unique needs. It has the scale to deliver global services but maintains an independent and flexible approach.
An independent insurance broker can offer physicians a variety of individual disability insurance options to protect their income in case they are unable to work due to accident or illness. As brokers represent multiple insurers, they can customize a plan with important features like own occupation definition of disability, cost of living adjustments, and mental health coverage. Disability insurance is important for physicians given statistics that nearly 3 in 10 20-year-olds will become disabled before age 67 and over 1 in 5 workers will have a long-term disability during their career. Meeting with a broker can help review coverage needs and identify discounts for optimal income protection.
Wall Street Journal- Growing Appeal Of Disability Insurancegreglarge
Disability insurance sales are rising as more affordable "guaranteed renewable" policies become popular. These policies are growing at 8% annually and allow employers to offer private disability coverage to workers for 20% less than individual policies. While these policies provide less protection than older noncancelable policies, they are significantly cheaper. The growing appeal also stems from more employers offering private disability plans to workers and rising disability rates as the workforce ages and lives longer with chronic illnesses.
United Health Group UnitedHealth Group Business Overviewfinance3
UnitedHealth Group is a diversified healthcare company serving 52 million Americans. It has three core competencies: advanced technology, healthcare data and informatics, and care facilitation. It operates discrete businesses focused on specific market segments. It invests over $2.2 billion annually in technology, research, and development. It enhances access to services, leverages buying power for affordability, and provides support to access and manage care. It applies technology to streamline administration, drive quality and consistency, and speed interactions. It gathers and shares data to enable analyses and provide tools to monitor utilization and costs. It has experienced strong financial performance with revenue, earnings per share, and stock appreciation growing significantly over 15 years.
The document provides information about the benefits available through membership in the Alliance for Affordable Services. It highlights top benefits for businesses, including tax savings programs, legal services, business consulting, shipping discounts, and online tax advice. Members can save thousands per year by taking advantage of these various discounts and services.
Liberty Mutual offers auto and home insurance to members of associations through a partnership program. As a partner, the association will be assigned an account team led by a dedicated Account Manager. The Account Manager will work with the association to develop a communications plan to engage members. Liberty Mutual has over 30 years of experience in the affinity insurance market and insures over 11,000 groups. Members will receive competitive rates on comprehensive insurance policies and have access to claims and customer service support.
The document discusses the concept of "Industry Architectural Shift" which refers to taking offensive or defensive actions to reshape an industry's structure. It aims to create new market spaces and opportunities for growth. This can be achieved by enhancing competition and breaking entry barriers. The document also talks about creating value-based healthcare delivery by diagnosing problems in the system and providing action steps to improve it based on achieving higher value or output relative to costs. It discusses enabling free flow of information, unrestricted competition and innovation in healthcare to benefit patients.
- The proposed memorandum and articles of association for the shared services company would require amendments to comply with current UK company law and remove provisions relating to charities.
- The 'Teckal' exemption from EU procurement rules would likely apply if the member colleges collectively control the shared services company through ownership.
- VAT exemption was confirmed for a professional membership organization but may not apply to a shared services company providing varied services to members. Obtaining a new ruling is recommended. Membership fees can vary by size but a partial membership for some services only would be difficult to structure for VAT exemption.
20120912 tip lausanne dirk palder capgemini the status of postal services 3.0...Dirk Palder
The document summarizes the key findings of Capgemini's second global postal innovation study. It found that European postal operators were the most innovative, with Swiss Post introducing the most new products and services. It also identified differences between more innovative "Leaders" and less innovative "Laggards". New products and services primarily targeted the delivery stage of the postal value chain and enhancing new business opportunities. The most interesting individual introductions included social media-based products. Strategic learnings highlighted that postal operators are transforming digitally but more probing and learning is still needed, and a make culture still dominates over ecosystem approaches.
The document provides an overview of the key features and services available through the Aon Master Trust Corporate Super product. It summarizes that the Aon Master Trust offers over 30 investment options, insurance options including death, total and permanent disability and income protection coverage, and services to help employers and employees manage their superannuation. Employers can make contributions on behalf of employees and customize certain features of the product. Employees have access to online account information and tools to help manage their superannuation over the long term.
This document provides a summary of the key features of the Aon Master Trust Corporate Super, a superannuation fund for companies and organizations with five or more employees. It outlines the types of contributions that can be made, the default and optional investment and insurance options available, and fees associated with the fund. Members have access to online services to manage their account and can choose to roll over other super benefits, make additional contributions, customize their insurance coverage, and nominate beneficiaries. The fund also offers retirement products like pensions.
This document discusses medical stop loss group captives as an alternative to the standard insurance market for mid-sized employers. It provides an overview of issues with the standard market like unanticipated rate increases and lack of transparency. The document then compares traditional insurance to a captive model, highlighting how captives give employers more control over benefits and claims data. Finally, it outlines considerations for starting a captive group like TPA selection and underwriting guidelines.
MassMutual is a leading mutual life insurance company founded in 1851 and headquartered in Springfield, MA. It provides a range of insurance, investment, and retirement products and services. In 2008, MassMutual had $523 billion in worldwide insurance in force, $363 billion in assets under management, and over 12,000 employees worldwide. It received several awards for customer service excellence and is highly rated by major rating agencies for its financial strength.
Self-funded health plans have grown in popularity due to their potential cost savings compared to fully insured plans. Employers who self-fund assume the financial responsibility for paying employee health claims. They can customize their plans' benefits and control costs. Self-funded plans purchase stop-loss insurance to limit financial risk from catastrophic or unusually high claims. Third party administrators (TPAs) handle plan administration and ensure compliance with regulations. TPAs work with employers to design customized plans and stop-loss coverage to provide the best benefits at the lowest cost.
There is an inevitable tension in co-operatives between the interests of stakeholders: consumers, workers and producers. A multi-stakeholder structure can address this tension by giving all member types a place at the boardroom table and a share of patronage, leading to a more satisfactory discussion and resolution of issues.
The document provides information about the Insurance Community Center, which offers online resources and education for insurance professionals. It aims to be a hub for learning, sharing, and professional growth in the insurance industry. Advertisers can promote their products and services to the Community's members, which includes over 60,000 insurance brokers, agents, and other professionals. Advertising options include webinar sponsorships, newsletters, and banner ads on the website and in educational materials.
IT Application Outsourcing (AO) in Insurance - Service Provider Profile Compe...Everest Group
This Everest Group report provides a detailed profile of Company X's insurance application outsourcing (AO) capabilities. It summarizes that Company X has over 20 years of insurance AO experience, serving over 20 clients globally. It derives around 20% of its total revenue from the banking, financial services, and insurance vertical, with approximately $200 million from insurance AO services in fiscal year 2011. Company X has proprietary solutions for property and casualty insurance and life and pensions, as well as over 5,000 resources engaged in insurance AO delivery from multiple global locations.
The document provides information about a presentation given by a group of students to their professor. The presentation was titled "Operations of General Insurance Companies in Bangladesh: A Case of Pioneer Insurance Company Limited". The summary discusses Pioneer Insurance Company Limited's products, organizational structure, financial performance analysis using ratios, and SWOT analysis. Recommendations are provided to improve the company's performance.
The document discusses microinsurance and intermediaries in microinsurance. It describes different types of microinsurance providers and intermediaries, and their roles. It also outlines several microinsurance delivery models including partner-agent, mutuality, direct sales, and community-based models. Finally, it discusses the intermediary model in more detail and provides examples of how MicroEnsure Philippines works as an intermediary to establish partnerships between microinsurance providers and organizations serving the poor.
The document summarizes an upcoming webinar for staffing agencies and PEOs about understanding and protecting against contractual risks when assuming customer liability. It provides details on the webinar topics, date, registration information and contact for the webinar hosted by Assurance Staffing. It also includes brief summaries of recent tax credit extensions for staffing companies and upcoming industry event details.
Global Impact Of Sunshine Act June 7 8 Philadelphia Yavuz Silay MD,MBAYavuz Silay
This document announces a conference to help pharmaceutical and medical device companies comply with the Physician Payments Sunshine Act. The conference will provide information on the new regulations, best practices for data collection and reporting, challenges physicians may face with additional transparency, and how to determine what payments must be reported. It encourages compliance professionals in areas like regulatory affairs, government relations, and marketing to attend in order to accurately report payments and gifts to physicians as required by law.
Bill Stankiewicz Copy Scope 2010 R Oi Company ModelBillStankiewicz
This document discusses integration as a better model for healthcare providers. It provides an overview of Resource Optimization & Innovation (ROi), an operating division of Sisters of Mercy Health System that aims to improve clinical, operational, and financial performance through a clinically integrated supply chain. ROi combines performance consulting, group purchasing, and supply chain management to drive more value than any individual component. The document outlines some of the key issues facing healthcare providers and how ROi's integrated model provides solutions through clinical alignment, lower costs, improved services, and information.
Insurance Proposal - SLIC Corporate Employee (Format)Chaminda de Silva
This document is an insurance proposal from Sri Lanka Insurance Corporation Ltd for the Leader Group. It proposes two main types of group insurance coverage:
1. Group Term Hospitalization Cover, which provides hospitalization benefits like room charges and surgery costs, as well as optional benefits like maternity coverage.
2. Group Term Life Cover, which pays a capital sum in the event of an employee's death before retirement, with options to add accidental death or disability coverage.
Premium rates would be provided once employee information is received, including number insured, dates of birth, and sum assured amounts. Sri Lanka Insurance Corporation has over 50 years of experience and financial strength to reliably provide these group insurance benefits.
Insurance Planning is a very vital component of Financial Planning. This presentation is all about various types of Life and General Insurance available in India. It also talks about the benefit of Term Insurance Policy. One should only go for Term Insurance Policy as it is best cover for Protection. This presentation also talks about the Mis-selling happening in India when it comes to insurance selling.
Health Star Consulting is an expert in designing self-funded health benefit plans for small and mid-sized employers. Their methods have resulted in significant savings and long-term cost stabilization for clients. They believe insurance is meant to cover specific events that employers cannot afford, while everyday services like doctor visits and prescriptions, accounting for 80-90% of claims, are better paid directly by employers at discounted network prices to avoid premium markups. Implementing their program allows employers to only pay for services used, purchase the appropriate amount of insurance, access the same doctors and hospitals, and have detailed utilization and cost reports to effectively manage their health benefit costs.
United Health Group UnitedHealth Group Business Overviewfinance3
UnitedHealth Group is a diversified healthcare company serving 52 million Americans. It has three core competencies: advanced technology, healthcare data and informatics, and care facilitation. It operates discrete businesses focused on specific market segments. It invests over $2.2 billion annually in technology, research, and development. It enhances access to services, leverages buying power for affordability, and provides support to access and manage care. It applies technology to streamline administration, drive quality and consistency, and speed interactions. It gathers and shares data to enable analyses and provide tools to monitor utilization and costs. It has experienced strong financial performance with revenue, earnings per share, and stock appreciation growing significantly over 15 years.
The document provides information about the benefits available through membership in the Alliance for Affordable Services. It highlights top benefits for businesses, including tax savings programs, legal services, business consulting, shipping discounts, and online tax advice. Members can save thousands per year by taking advantage of these various discounts and services.
Liberty Mutual offers auto and home insurance to members of associations through a partnership program. As a partner, the association will be assigned an account team led by a dedicated Account Manager. The Account Manager will work with the association to develop a communications plan to engage members. Liberty Mutual has over 30 years of experience in the affinity insurance market and insures over 11,000 groups. Members will receive competitive rates on comprehensive insurance policies and have access to claims and customer service support.
The document discusses the concept of "Industry Architectural Shift" which refers to taking offensive or defensive actions to reshape an industry's structure. It aims to create new market spaces and opportunities for growth. This can be achieved by enhancing competition and breaking entry barriers. The document also talks about creating value-based healthcare delivery by diagnosing problems in the system and providing action steps to improve it based on achieving higher value or output relative to costs. It discusses enabling free flow of information, unrestricted competition and innovation in healthcare to benefit patients.
- The proposed memorandum and articles of association for the shared services company would require amendments to comply with current UK company law and remove provisions relating to charities.
- The 'Teckal' exemption from EU procurement rules would likely apply if the member colleges collectively control the shared services company through ownership.
- VAT exemption was confirmed for a professional membership organization but may not apply to a shared services company providing varied services to members. Obtaining a new ruling is recommended. Membership fees can vary by size but a partial membership for some services only would be difficult to structure for VAT exemption.
20120912 tip lausanne dirk palder capgemini the status of postal services 3.0...Dirk Palder
The document summarizes the key findings of Capgemini's second global postal innovation study. It found that European postal operators were the most innovative, with Swiss Post introducing the most new products and services. It also identified differences between more innovative "Leaders" and less innovative "Laggards". New products and services primarily targeted the delivery stage of the postal value chain and enhancing new business opportunities. The most interesting individual introductions included social media-based products. Strategic learnings highlighted that postal operators are transforming digitally but more probing and learning is still needed, and a make culture still dominates over ecosystem approaches.
The document provides an overview of the key features and services available through the Aon Master Trust Corporate Super product. It summarizes that the Aon Master Trust offers over 30 investment options, insurance options including death, total and permanent disability and income protection coverage, and services to help employers and employees manage their superannuation. Employers can make contributions on behalf of employees and customize certain features of the product. Employees have access to online account information and tools to help manage their superannuation over the long term.
This document provides a summary of the key features of the Aon Master Trust Corporate Super, a superannuation fund for companies and organizations with five or more employees. It outlines the types of contributions that can be made, the default and optional investment and insurance options available, and fees associated with the fund. Members have access to online services to manage their account and can choose to roll over other super benefits, make additional contributions, customize their insurance coverage, and nominate beneficiaries. The fund also offers retirement products like pensions.
This document discusses medical stop loss group captives as an alternative to the standard insurance market for mid-sized employers. It provides an overview of issues with the standard market like unanticipated rate increases and lack of transparency. The document then compares traditional insurance to a captive model, highlighting how captives give employers more control over benefits and claims data. Finally, it outlines considerations for starting a captive group like TPA selection and underwriting guidelines.
MassMutual is a leading mutual life insurance company founded in 1851 and headquartered in Springfield, MA. It provides a range of insurance, investment, and retirement products and services. In 2008, MassMutual had $523 billion in worldwide insurance in force, $363 billion in assets under management, and over 12,000 employees worldwide. It received several awards for customer service excellence and is highly rated by major rating agencies for its financial strength.
Self-funded health plans have grown in popularity due to their potential cost savings compared to fully insured plans. Employers who self-fund assume the financial responsibility for paying employee health claims. They can customize their plans' benefits and control costs. Self-funded plans purchase stop-loss insurance to limit financial risk from catastrophic or unusually high claims. Third party administrators (TPAs) handle plan administration and ensure compliance with regulations. TPAs work with employers to design customized plans and stop-loss coverage to provide the best benefits at the lowest cost.
There is an inevitable tension in co-operatives between the interests of stakeholders: consumers, workers and producers. A multi-stakeholder structure can address this tension by giving all member types a place at the boardroom table and a share of patronage, leading to a more satisfactory discussion and resolution of issues.
The document provides information about the Insurance Community Center, which offers online resources and education for insurance professionals. It aims to be a hub for learning, sharing, and professional growth in the insurance industry. Advertisers can promote their products and services to the Community's members, which includes over 60,000 insurance brokers, agents, and other professionals. Advertising options include webinar sponsorships, newsletters, and banner ads on the website and in educational materials.
IT Application Outsourcing (AO) in Insurance - Service Provider Profile Compe...Everest Group
This Everest Group report provides a detailed profile of Company X's insurance application outsourcing (AO) capabilities. It summarizes that Company X has over 20 years of insurance AO experience, serving over 20 clients globally. It derives around 20% of its total revenue from the banking, financial services, and insurance vertical, with approximately $200 million from insurance AO services in fiscal year 2011. Company X has proprietary solutions for property and casualty insurance and life and pensions, as well as over 5,000 resources engaged in insurance AO delivery from multiple global locations.
The document provides information about a presentation given by a group of students to their professor. The presentation was titled "Operations of General Insurance Companies in Bangladesh: A Case of Pioneer Insurance Company Limited". The summary discusses Pioneer Insurance Company Limited's products, organizational structure, financial performance analysis using ratios, and SWOT analysis. Recommendations are provided to improve the company's performance.
The document discusses microinsurance and intermediaries in microinsurance. It describes different types of microinsurance providers and intermediaries, and their roles. It also outlines several microinsurance delivery models including partner-agent, mutuality, direct sales, and community-based models. Finally, it discusses the intermediary model in more detail and provides examples of how MicroEnsure Philippines works as an intermediary to establish partnerships between microinsurance providers and organizations serving the poor.
The document summarizes an upcoming webinar for staffing agencies and PEOs about understanding and protecting against contractual risks when assuming customer liability. It provides details on the webinar topics, date, registration information and contact for the webinar hosted by Assurance Staffing. It also includes brief summaries of recent tax credit extensions for staffing companies and upcoming industry event details.
Global Impact Of Sunshine Act June 7 8 Philadelphia Yavuz Silay MD,MBAYavuz Silay
This document announces a conference to help pharmaceutical and medical device companies comply with the Physician Payments Sunshine Act. The conference will provide information on the new regulations, best practices for data collection and reporting, challenges physicians may face with additional transparency, and how to determine what payments must be reported. It encourages compliance professionals in areas like regulatory affairs, government relations, and marketing to attend in order to accurately report payments and gifts to physicians as required by law.
Bill Stankiewicz Copy Scope 2010 R Oi Company ModelBillStankiewicz
This document discusses integration as a better model for healthcare providers. It provides an overview of Resource Optimization & Innovation (ROi), an operating division of Sisters of Mercy Health System that aims to improve clinical, operational, and financial performance through a clinically integrated supply chain. ROi combines performance consulting, group purchasing, and supply chain management to drive more value than any individual component. The document outlines some of the key issues facing healthcare providers and how ROi's integrated model provides solutions through clinical alignment, lower costs, improved services, and information.
Insurance Proposal - SLIC Corporate Employee (Format)Chaminda de Silva
This document is an insurance proposal from Sri Lanka Insurance Corporation Ltd for the Leader Group. It proposes two main types of group insurance coverage:
1. Group Term Hospitalization Cover, which provides hospitalization benefits like room charges and surgery costs, as well as optional benefits like maternity coverage.
2. Group Term Life Cover, which pays a capital sum in the event of an employee's death before retirement, with options to add accidental death or disability coverage.
Premium rates would be provided once employee information is received, including number insured, dates of birth, and sum assured amounts. Sri Lanka Insurance Corporation has over 50 years of experience and financial strength to reliably provide these group insurance benefits.
Insurance Planning is a very vital component of Financial Planning. This presentation is all about various types of Life and General Insurance available in India. It also talks about the benefit of Term Insurance Policy. One should only go for Term Insurance Policy as it is best cover for Protection. This presentation also talks about the Mis-selling happening in India when it comes to insurance selling.
Health Star Consulting is an expert in designing self-funded health benefit plans for small and mid-sized employers. Their methods have resulted in significant savings and long-term cost stabilization for clients. They believe insurance is meant to cover specific events that employers cannot afford, while everyday services like doctor visits and prescriptions, accounting for 80-90% of claims, are better paid directly by employers at discounted network prices to avoid premium markups. Implementing their program allows employers to only pay for services used, purchase the appropriate amount of insurance, access the same doctors and hospitals, and have detailed utilization and cost reports to effectively manage their health benefit costs.
1. Small and mid-sized employers can save money on healthcare costs by implementing a self-funded health insurance program where they only pay for actual medical services used, purchase the appropriate amount of insurance coverage, and pay wholesale prices for routine care instead of retail prices charged by insurance companies.
2. The program allows employers to continue using their existing doctors and hospitals, know healthcare costs and utilization in detail, customize their health plan design, and educate employees on spending behaviors.
The document summarizes key information about timely claim reporting and includes the following points:
1) Claims reported more than 24 hours after occurrence are 33% more costly. Timely reporting is important for a company's risk performance scorecard.
2) Timely reporting allows for early relationships with injured parties to ensure claims are handled properly, and allows adjusters to investigate claims when events are freshest in minds of injured employees and witnesses.
3) Faster reporting means better care for injured parties, faster claim resolution and payments, and ultimately lower costs for employers.
This document discusses concepts of assurance within research and education federations. It defines federations and distinguishes them from communities of practice. It explores where assurance is added, such as through metadata registration with federations or identity proofing with institutions. The document also discusses identity assurance profiles, registration and aggregation of metadata, and assumptions around levels of assurance. It proposes several actions to further develop understanding and standards around assurance, such as collecting assurance requirements and case studies.
Most employees are unaware of the level of disability protection their employers provide and executives' needs are not fully met by traditional group plans. An executive disability income plan can address shortfalls by utilizing both group LTD and individual disability insurance to provide enhanced, portable coverage for executives. This comprehensive strategy provides stronger benefits to attract and retain key talent.
Similar to Das korea group business may 2012 das (20)
2. Definition of Group Insurance
Group Business Approach
“ Insurance contract for a certain number (>10 ) of persons
with equal characteristics or features .“
08.04.13 2
3. Basic Structure of Group Insurance
Group Business Approach
Insurance Company
Optional or compulsory cover Insurance contract (only
for the members/ employees between Insurer and
(important pricing criteria !) Organisation)
Company,
Organisation, = Policyholder
Union,
Association
Insurance coverage ( but no single
contract with each client )
Member Member Member Member
or or or or
Employee Employee Employee Employee
08.04.13 3
4. Examples for typical Affinity Groups (DAS UK)
Group Business Approach
Number of
Affinity How LEI coverage Arranged
members/employees
Chiropodists & Podiatrists Through Association 8,444
Opticians Through Association 5,671
Proctor & Gamble Employees Employee Benefit Program 5,214
Golf Club Pros Through Association 5,210
Musicians Through Association 4,893
Through Industry Specialist
Hospital Consultants & Specialists 3,000
Broker
Executives in Computer Industry Through Association 2,600
Child Minders Through Association 2,200
Sunseeker International Employees Employee Benefit Program 2,198
Prison/Custody Officers Through Union 2,100
Air Traffic Controllers Through Association 2,094
Crossreach Employees Employee Benefit Program 2,000*
Sodexo Justice Services Employees Employee Benefit Program 1,891**
Alternative Medical Practitioners Through Association 1,760
Baptist Ministers Through Union 1,620
Chief Executives Through Association 1,330
Union Employees Employee Benefit Program 1,300
Prison Governors Through Association 1,300
Charity Employees Employee Benefit Program 1,263
Foster Carers Through Association 1,210
* (Provide care to children, family, the elderly, addicts,
homeless, etc)
**(private firm of Prison/Custody Officers)
08.04.13 4
5. Decisive elements of insuring Groups (DAS UK)
Group Business Approach
Not every Group is a „good“ risk…
Groups considered a high risk Groups considered a low /good risk
Smaller groups of employees or members Larger Groups of employees or members
(wider spread of risks)
Groups which include members who hold
a high position of authority. Non professional companies (non- profit
association)
Highly professional employees on the
higher end of the pay scale Non commercial special interest groups
Trades who have their own governing Companies with employees on the lower
body end on the pay scale
Selecting the „right“ group as one element for successful Group business
08.04.13 5
6. Decisive elements: selecting of EOC`s and pricing criteria
(DAS UK)
Group Business Approach
Non Compulsory
No negative risk Compulsory Premium more
selection (Optional) than 3 times higher
Insurance
Insurance
DESCRIPTION UNITS UNITS UNITS
0-25 26 -100 101-1000
Comp Non Comp Non Comp Non
Comp Comp Comp
Bodily Injury (Motor/Non Motor) 5.45 17.75 4.90 15.95 4.30 14.00
Each element of
Contract Disputes (Non Motor) 12.50 40.65 11.25 36.60 9.90 32.00
cover (EOC) has to Legal Defence * 2.90 9.15 2.60 8.20 2.25 7.20
be selected and Property Protection 3.10 9.80 2.80 8.80 2.45 7.75
priced individually Employment Disputes ** 11.75 23.52 10.60 21.10 9.25 18.60
according to Taxation Disputes 4.40 13.75 3.95 12.40 3.45 10.90
expected claims Motor Uninsured Loss Recovery 3.75 3.75 3.40 3.40 2.95 2.95
Commercial Agents Regulations 6.65 20.00 5.95 18.00 5.30 15.80
frequency and Counselling 0.70 0.70 0.60 0.60 0.50 0.50
average claims Eurolaw Legal Advice and Group 1.10 1.10 0.95 0.95 0.80 0.80
costs Assistance Services
Individual premium loading of EOC`s according to expected claims exposure and
particular circumstances
08.04.13 6
7. Examples of group business (DAS Canada)
Group Business Approach
Canadian Group Policy
Group Business successfully
launched:
- DealerSure (Gallagher), Car- Dealer
- BFL Strata (Condominiums)
- First Nations
Group- Production 332.000 € GWP until March 2012
08.04.13 7
8. Examples of group business (D.A.S. Italy)
Group Business Approach
Contract between D.A.S. Italy and
Mercedes- Benz in Milan
Truck Drivers–Legal Protection
Insurance for all clients
Prosecution defence with protection
against sequestration and drivers
licence protection
08.04.13 8
9. Examples of group business (D.A.S. Switzerland)
Group Business Approach
Collective-Contract between D.A.S.
Switzerland and Groupe Mutuel (Health
Insurance)
Optional insurance policy
Legal Protection against wrong
medical treatment
D.A.S. CH is just underwriter (White
label) does not appear in the policy
08.04.13 9