This document provides information about Risk Transfer Insurance Agency (RTIA), a full-service program administrator specializing in workers' compensation insurance. RTIA has underwritten over $1 billion in premiums since 2000 and forms customized insurance carrier programs. It is a member of Capacity Coverage Company, which produces over $900 million in annual premium. RTIA utilizes business intelligence tools from i3 Analytics to enhance underwriting and risk management. It also provides risk management services through Risk Aware to help contain costs. The document outlines the customized insurance resources and risk management support RTIA offers to clients.
It is extremely important to select an insurance broker who truly understands your business and is knowledgeable about the right insurance products to fit your requirements. We pride ourselves on educating our clients about available products that best suit their needs. HUB has a growing menu of offerings and provides many core value-added services to clients such as risk management and loss control, contract reviews, and claims management. - See more at: http://www.hubinternational.com/industries
The reputational and financial damage from cyber security breaches for banks are so enormous that they cannot any longer afford to be reactive. Big Data Analytics lets them preempt attacks.
Insurers are upgrading their technology to support more complex
products, lower operating costs, and get closer to their customers.
But they can do more harm than good when they make changes
that alienate their independent agents. We’ve identified five steps
that can help insurers engage agents early and create a
transition plan that meets agents’ needs—converting these
important stakeholders into enthusiastic advocates.
4 best practices in digitizing mortgage verificationExperian
The journey to a mortgage is complex and expensive, so of course the transaction will require more than a few swipes on a smartphone. Underwriting a sizeable loan can take weeks with the task of collecting income and asset documents to analyze and verify. In fact, one source from the Mortgage Bankers Association says the average mortgage application has ballooned to 500 pages. With advancements in digital verification, lenders can dramatically accelerate the process, providing benefits to both their own operations and the consumer mortgage experience.
It is extremely important to select an insurance broker who truly understands your business and is knowledgeable about the right insurance products to fit your requirements. We pride ourselves on educating our clients about available products that best suit their needs. HUB has a growing menu of offerings and provides many core value-added services to clients such as risk management and loss control, contract reviews, and claims management. - See more at: http://www.hubinternational.com/industries
The reputational and financial damage from cyber security breaches for banks are so enormous that they cannot any longer afford to be reactive. Big Data Analytics lets them preempt attacks.
Insurers are upgrading their technology to support more complex
products, lower operating costs, and get closer to their customers.
But they can do more harm than good when they make changes
that alienate their independent agents. We’ve identified five steps
that can help insurers engage agents early and create a
transition plan that meets agents’ needs—converting these
important stakeholders into enthusiastic advocates.
4 best practices in digitizing mortgage verificationExperian
The journey to a mortgage is complex and expensive, so of course the transaction will require more than a few swipes on a smartphone. Underwriting a sizeable loan can take weeks with the task of collecting income and asset documents to analyze and verify. In fact, one source from the Mortgage Bankers Association says the average mortgage application has ballooned to 500 pages. With advancements in digital verification, lenders can dramatically accelerate the process, providing benefits to both their own operations and the consumer mortgage experience.
Overwhelming support: US public opinions on the manufacturing industyDeloitte United States
Americans still have mixed views about the future of manufacturing. The results of this year’s survey—our fifth over the past six years—gauging Americans perspectives on the US manufacturing industry, relative to other industries, reveal that the vast majority of Americans continue to view US manufacturing as crucial to America’s economic prosperity, standard of living, and national security. However, less than half believe the US can compete globally in manufacturing.
For more on the report, visit http://www2.deloitte.com/us/en/pages/manufacturing/articles/public-perception-of-the-manufacturing-industry.html
Like the rest of the financial services industry, insurers are subject to increasingly complex and prescriptive regulations and standards. In the year ahead, insurers will need to focus on the new U.S.Department of Labor fiduciary standard, which is likely to have a significant effect on how insurance products are sold. Moreover, global developments, especially those related to the developing International Capital Standard, will require insurers to closely monitor – and ideally contribute to – official discussions about how globally active insurers should manage capital
A robust risk assessment process is central to maintaining a strong Anti-Money Laundering (AML) compliance program. In this new Accenture presentation we explore how financial services firms can set-up an effective process. Visit our fraud and financial crime blog post for more on AML risk assessment program: http://bit.ly/2aPlQQ7
Enterprise Fraud Management: How Banks Need to AdaptCapgemini
Fraud prevention is becoming one of the biggest areas of concern for the financial services industry. But first generation Fraud Management systems are falling short. By moving towards more enterprise approach to fraud management, financial institutions can combat the increasingly treacherous fraud and cyber crime landscape while reaping numerous benefits for the organization.
• • With the evolving role of the CFOs, businesses more than ever are now reliant on their CFOs to translate mere numbers into incisive intelligence to tap new growth opportunities
• The right insights can prime the finance function to swiftly respond to market volatility, facilitate strategic expansion, spot trends, accurately predict outcomes, and proactively drive top-line and bottom-line growth
• CFOs can also make an impact at the larger enterprise level by incorporating analytics to add value outside it core functions and help other functions
• Given the pre-dominant importance of technology and the role it plays as a Big Data enabler, it is imperative for CFOs to forge collaborative and strategic relationships with CIOs
A safe approach to growing your loan book in wealth managementRockall Technologies
A white paper on a safe approach to increasing your loan book in wealth management. The paper will discuss the ways in which your loan book can be increased salely and in line with regulation and compliance.
For more information please see: http://www.rockalltech.com/banking/wealth-management
In spring 2016, PwC investigated the current state and
future direction of stress testing. We surveyed 55 insurers
operating in the US about their stress testing framework and
the specific stresses that they test. We also engaged in more
detailed dialogue with a number of insurers in the US and
globally, as well as with some North American insurance
regulators.
EY Insurance Business Pulse, 2013-2015 – exploring the top 10 risks and oppor...EY
Key findings:
• Companies are renewing customer focus to meet demand — one individual at a time
• Flexibility must be built into all aspects of the business to achieve cost competitiveness
• Regulation could lead to more effective risk management and help bolster stakeholder confidence in the industry
For further information visit: http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Business-Pulse--top-10-risks-and-opportunities-2013-15
Customer interviews of Guardian Analytics by Rebecca Wetteman of Nucleus Research. Behavioral Analytics and Machined Learning for Real-Time Fraud detection for Wire and ACH.
Design of integrated multistage dc dc convrtereSAT Journals
Abstract Due to the functionality increase of modern battery powered portable devices, the battery life is an important issue. To extend the battery life, an efficient voltage regulator (VR) is required. In this paper discusses the employment of two-stage architecture on the design of point-of-load (POL) Dc- Dc converters. At first, the paper discusses the benefits of an integrated two-stage step-down converter with example to clarify the benefits of the design over one-stage approach. The results of two-stage converter are to be compared with the one-stage approach in addition to size and cost reduction. Then, the benefits of replacing boost converters by integrated two-stage step-up converters are discussed followed by a design example for two-stage step-up converter. The circuits are to be simulated and compared with the help of MATLAB/SIMULINK. Keywords: voltage regulator (VR), point-of-load (POL), MATLAB/SIMULINK
Overwhelming support: US public opinions on the manufacturing industyDeloitte United States
Americans still have mixed views about the future of manufacturing. The results of this year’s survey—our fifth over the past six years—gauging Americans perspectives on the US manufacturing industry, relative to other industries, reveal that the vast majority of Americans continue to view US manufacturing as crucial to America’s economic prosperity, standard of living, and national security. However, less than half believe the US can compete globally in manufacturing.
For more on the report, visit http://www2.deloitte.com/us/en/pages/manufacturing/articles/public-perception-of-the-manufacturing-industry.html
Like the rest of the financial services industry, insurers are subject to increasingly complex and prescriptive regulations and standards. In the year ahead, insurers will need to focus on the new U.S.Department of Labor fiduciary standard, which is likely to have a significant effect on how insurance products are sold. Moreover, global developments, especially those related to the developing International Capital Standard, will require insurers to closely monitor – and ideally contribute to – official discussions about how globally active insurers should manage capital
A robust risk assessment process is central to maintaining a strong Anti-Money Laundering (AML) compliance program. In this new Accenture presentation we explore how financial services firms can set-up an effective process. Visit our fraud and financial crime blog post for more on AML risk assessment program: http://bit.ly/2aPlQQ7
Enterprise Fraud Management: How Banks Need to AdaptCapgemini
Fraud prevention is becoming one of the biggest areas of concern for the financial services industry. But first generation Fraud Management systems are falling short. By moving towards more enterprise approach to fraud management, financial institutions can combat the increasingly treacherous fraud and cyber crime landscape while reaping numerous benefits for the organization.
• • With the evolving role of the CFOs, businesses more than ever are now reliant on their CFOs to translate mere numbers into incisive intelligence to tap new growth opportunities
• The right insights can prime the finance function to swiftly respond to market volatility, facilitate strategic expansion, spot trends, accurately predict outcomes, and proactively drive top-line and bottom-line growth
• CFOs can also make an impact at the larger enterprise level by incorporating analytics to add value outside it core functions and help other functions
• Given the pre-dominant importance of technology and the role it plays as a Big Data enabler, it is imperative for CFOs to forge collaborative and strategic relationships with CIOs
A safe approach to growing your loan book in wealth managementRockall Technologies
A white paper on a safe approach to increasing your loan book in wealth management. The paper will discuss the ways in which your loan book can be increased salely and in line with regulation and compliance.
For more information please see: http://www.rockalltech.com/banking/wealth-management
In spring 2016, PwC investigated the current state and
future direction of stress testing. We surveyed 55 insurers
operating in the US about their stress testing framework and
the specific stresses that they test. We also engaged in more
detailed dialogue with a number of insurers in the US and
globally, as well as with some North American insurance
regulators.
EY Insurance Business Pulse, 2013-2015 – exploring the top 10 risks and oppor...EY
Key findings:
• Companies are renewing customer focus to meet demand — one individual at a time
• Flexibility must be built into all aspects of the business to achieve cost competitiveness
• Regulation could lead to more effective risk management and help bolster stakeholder confidence in the industry
For further information visit: http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Business-Pulse--top-10-risks-and-opportunities-2013-15
Customer interviews of Guardian Analytics by Rebecca Wetteman of Nucleus Research. Behavioral Analytics and Machined Learning for Real-Time Fraud detection for Wire and ACH.
Design of integrated multistage dc dc convrtereSAT Journals
Abstract Due to the functionality increase of modern battery powered portable devices, the battery life is an important issue. To extend the battery life, an efficient voltage regulator (VR) is required. In this paper discusses the employment of two-stage architecture on the design of point-of-load (POL) Dc- Dc converters. At first, the paper discusses the benefits of an integrated two-stage step-down converter with example to clarify the benefits of the design over one-stage approach. The results of two-stage converter are to be compared with the one-stage approach in addition to size and cost reduction. Then, the benefits of replacing boost converters by integrated two-stage step-up converters are discussed followed by a design example for two-stage step-up converter. The circuits are to be simulated and compared with the help of MATLAB/SIMULINK. Keywords: voltage regulator (VR), point-of-load (POL), MATLAB/SIMULINK
Designing a Mobile Digital Backchannel System for Monitoring Sentiments and E...Peerumporn Jiranantanagorn
"Designing a Mobile Digital Backchannel System for Monitoring Sentiments and Emotions in Large Lectures" was presented by Peerumporn Jiranantanagorn on 28 September 2015 in the 24th Australasian Software Engineering Conference (ASWEC 2015) at the University of Adelaide, South Australia.
BIG DATA EN CIENCIAS DE LA SALUD Y CIENCIAS SOCIALESVictoria López
I Jornada Big Data UCM: Se presenta nuestro grupo de investigación y dos proyectos en desarrollo: Bip4Cast (prevención de crisis en enfermos de bipolarida) y WAP Madrid (prevención de obesidad y colesterol mediante una red social deportiva)
An interactive digital menu - food ordering system for your hospitality industry. Easy to configure with your existing POS and helping to track orders for multiple tables.
Corporate Insight is pleased to introduce the results of our fifth annual Life Insurance Monitor Awards. We benchmark the life insurance industry across six critical categories. Within each of these categories, we award Monitor Awards in gold, silver and bronze assessing how firms meet our criteria.
As in past years, the Gold Medal is reserved for exceptionally valuable services. We award the Silver Medal to features with similar value that lack some of the outstanding attributes and functions of the best offerings. The Bronze Medal recognizes firms with an excellent or unique service that do not meet the highest standards in the respective category.
3+ Keys to Proactive Underwriting (1).pdfCogitate.us
What is the advantage of insurance technology built by insurance
people? It has been designed with a passion to solve problems and meet your needs based on real-life experiences by people who have held your roles. Those who have done the job of producer, underwriter, product manager, CFO, and CIO, know firsthand the functions and features that impact speed to market and your ROI at a granular level. Welcome to
Cogitate and an introduction to future-ready underwriting on a modern
policy administration platform.
Tampa Employee Benefits Broker Check List: How do we measure up? Brian Brady
Website: www.accurateinsurancesolutions.com
Providing Innovative Solutions for companies throughout Tampa on their employer group health insurance plans. Our employee benefits broker checklist guide focuses on our services we provide and can be used as a comparison when considering changing your benefits broker or advisor.
This document brings together a set of latest data points and publicly available information relevant for Financial Services Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
7 Ways Insurance Brokers Should Approach InsurTechSiren Group
“InsurTech” is a term used quite often these days – a spin-off of the even more popular word “FinTech.” It refers to technologies and platforms. These platforms can help optimize any of the principles for success or requirements of insurance.
InsurTech encompasses companies that provide insurance, but engage technology in a user-centric way.
Here are 7 ways of making InsurTech the heart of your business:
Six Crucial Steps for Insurance Companies to Excel in Risk Management360factors
The emerging cyber insurance industry has a unique chance to differentiate itself by correctly measuring risk and assisting clients to improve their cybersecurity coverage, decreasing their risk profile. Insurance and risk management are inextricably linked. Although insurance supplements risk management efforts for businesses, sound risk management is critical to an insurance firm’s survival.
For more details: https://bit.ly/41wgVPa
Insurance rating software is defined as an integrated software to handle the needs of insurers of all sizes. It is used to calculate the premium associated with a policy or other transactions. It stores the rating rules and algorithms, the base rates and associated factors, and the rules necessary to combine the rates and algorithms to calculate a premium.
Welcome to the annual Life Insurance Monitor Awards Report, detailing the best offerings in seven areas of our coverage firms’ websites: Public Homepage and Navigation, Public Life Insurance Tools and Calculators, Public Life Insurance Product Information, Client Account Information, Client Management Services, Advisor Literature Order Systems and Advisor Illustration Tools. Within each category, we award a Gold, Silver or Bronze medal based on how well firms meet our criteria.
Finding a well-planned and comprehensive Employee Benefits Program for your employees can be a real challenge. Ethika is here to put in place a cutting-edge Employee Benefits Program so that your employees are happy and continue to work for you. We at Ethika believe that with the right planning, any size of organisation can provide attractive Employee Benefits
Program to its employees.
We also deploy a strong Employee Communication and Assistance service to ensure your employees know about the investments you make for their wellbeing, and to also provide them with timely assistance and guidance.
Improve productivity Decrease absenteeism Reduce health claims costs Reduce disability claims costs Improve work environment Increase employee engagement Improve preparedness and response Reduce employee turnover Attract new talent.
Similar to RTIA Insurance and Financial Services 5.11.16 (20)
2. Risk Transfer Insurance Agency
2016 2
Risk Transfer Insurance Agency (RTIA) is a full service program administrator. RTIA was founded in December
2000 specializing in developing specific Workers’ Compensation programs for Professional Employers
Organizations and Temporary Staffing.
Since its inception, Risk Transfer has underwritten over $1B+ of PEO and Temporary Staffing workers’
compensation premiums and formed numerous industry-specific carrier programs. It has further evolved into
a hybrid business model easily customized to fit each of their carrier partners.
RTIA is a member of the Capacity Coverage Company of New Jersey, Inc. (“Capacity Coverage”). Capacity
coverage was founded in 1990 and currently produces in excess of nine hundred million dollars ($900,000,000)
of gross written premium annually.
3. Risk Transfer Insurance Agency
i3 Analytics was formed to provide the “art and science” of risk management and
business intelligence. The scientific or process portion of i3 has been developed
in-house and represents a large financial investment the value of which
differentiates RTIA’s long-term underwriting profitability. i3 has introduced
cutting edge data visualization technology, predictive modeling and performance
analytics to the insurance industry. i3 provides services to agencies, insurers,
third party administrators, SBAs and staffing companies.
Risk Aware (outsourced underwriting platforms and cost containment programs)
provides comprehensive risk management analytics. Risk Aware was formed in
2007 to focus on customer advocacy and cost containment for RTIA clients.
2016 3
4. Your Team of Industry Experts
Risk Transfer Insurance Agency is a full service MGA that
maintains a core discipline on providing insurance solutions
for various commercial industries. We utilize our industry
expertise and carrier relationships to deliver consultative
solutions for our clients, while also advising our clients on
how to mitigate their risk exposures.
• Your account is assigned to a team of industry specialists
who are dedicated to providing a wealth of resources to
service your needs.
• Our approach ensures that managing your insurance
program is seamless and easy for you.
• Risk Transfer provides all of the products and services you
need from one source.
2016 4
5. 2016 5
Risk Transfer gives you the tools to grow your
business and the resources to mitigate your costs.
6. Policy and Certificate Resources
• Online 24/7 access to certificate of insurance
• Speed of delivery to certificate holders to include:
• Contract Reviews
• Special Wording Requirements
• Certificate Holder Negotiations
• Review all policies for appropriate coverage for all
commercial insurance lines sold.
• Endorsing policies for customer required policy changes.
• Review premium audits for accuracy, handle dispute
resolution.
• Our pay-as-you-go process typically results in a +/- 3%
differential from what was reported against actual.
2016 6
7. Customized Insurance Resources
Risk Profile
Analyze your book from the eyes of an insurance company; we provide a
thorough report of your book’s segmentation by wages, premium, states,
class codes, AM Best hazard grade, SIC/NAICS and standard exception
codes.
Loss Summary and Projection
We ensure the best pricing and placement options for your portfolio by
providing a report that evaluates your historical performance and
generates a projection of forecasted losses for the upcoming year.
Executive Summary
Easy-to-understand guide for determining the best course of action for
your company to maximize the profitability of your insurance portfolio.
Your producer provides recommendations from a detailed review of
findings from insurance carriers they've marketed your account to.
Financial Statements Review
By determining your financial state of affairs, we’re able to instill
confidence in your insurance carrier that you can fulfill your premium
financing commitments. We consult with your group regardless of
financial deal structure, guaranteed cost, large deductible, retrospective
policies, and can provide your internal finance department with targets
to book premium and loss fund commitments.
2016 7
8. Customized Insurance Resources
Underwriting
We provide clear guidelines on what information is needed for your
submissions and also provide a decision tree tool that allows you to
quantify your prospective clients’ eligibility prior to submitting their
business for coverage, this gives you a heads-up on which of your clients
are attractive or unattractive from an insurance perspective.
Compliance
We help validate your safety program and drug free workplace policies
for compliance purposes; we’ll not only ensure that your business is in
compliance but also advocate for premium credit eligibility.
We respond to department of insurance requests and inquiries regarding
your issued policies to ensure compliance is granted from the state for
each of your clients.
Marketing
Submit your business to all viable carrier candidates to provide you with
more than one option for your insurance placement.
We provide a net rate comparison on a class code and state level to
compare your premium costs from one year to the next to give you a
proactive indication for proper budgeting.
2016 8
9. Claims Analytics
Check monthly loss runs and key performance indicators from all of your
carriers with access to the i3 Claims Analytics web dashboard.
According to a recent Deloitte study, companies save 4-8% on loss and
expense caused by workers’ compensation claims when leveraging
advanced analytics. Advanced analytics “changes the game” by
providing insights that help organizations improve claim outcomes.
Claim Activity Notifications
Automated email alerts that include claim increase and decrease
updates, loss reserve alerts and much more.
Predictive Rate Analytics
We allow you to quickly calculate an optimized workers’ compensation
rate for your clients using the industry’s most credible data. Would you
like to know that a class code in a state historically averaged a 150% loss
ratio or an average claim cost of $50,000?
Proprietary Payroll Portal
We’ve engineered an easy-to-use web portal that allows our clients to
submit their payroll information for invoicing, client endorsements, PAC
Agreements and performance analytics.
2016 9
Data and Analytics
Provided by Risk Transfer and i3 Analytics
10. Risk Management Resources
Provided by Risk Transfer and RiskAware
Online Resources
Access to the most current risk management tools on the web that
includes OSHA resources, workplace safety, human resources, drug-free
policies, safety programs, transitional duty tools and much more.
Telephonic Claims Consulting
Cost containment advice from a licensed adjuster.
Claims Advocacy
Have an advisor on standby as claims occur, we'll help you navigate the
claims process.
Annual Stewardship Report
Our mid-term checkup gives you the information needed to proactively
engage risk mitigation services, eliminate surprises and plan for cost
expectations at your renewal.
Best Practices Evaluation
Face to face consultation with RiskAware to identify potential workers'
compensation cost containment opportunities.
2016 10
11. Experience Mod Management
Provided by Risk Transfer and RiskAware
• We’ll help advocate for your best experience mod by
providing risk consultation advice, reviewing your claims,
pushing insurance companies to reduce or eliminate
claims reserves and by closing claims completely.
• We also help confirm that your mod is accurate and can
provide a comprehensive analysis of the segments of
your portfolio that put your experience mod at risk.
2016 11
12. Onboarding Orientation
• We give you a formal introduction to your team that
consists of underwriters, account managers, risk control
experts and accountants, all with clear roles and
obligations to serve you.
• We provide a customer handbook that has detailed
guidelines on how to report claims, access services
provided by Risk Transfer partner firms RiskAware and i3
Analytics, utilize managed provider networks, access legal
defense firms, surveillance services loss prevention
services and much more.
2016 12
13. Service Calendar
• Your service calendar includes ongoing contact to track
and update your risk management program.
2016 13
14. Claim frequency continues to decline materially as a result
of the corrective underwriting actions and changes we have
made to our appetite. This was achieved through leveraging
the capabilities and business intelligence of i3 Analytics and
Risk Aware.
The distribution of claims frequency around industry classes
continues to shift in a very positive direction and is evident
as early as 2010, and the trends continue in the most
current years.
The amount of desirable risks (Approved) continues to
become the predominate classes we underwrite, and
further reinforces that (1) underwriters removed classes of
business that affected claims frequency, and (2) the
accounts we write in Referral-1-2 have outperformed their
peers.
Class Code Underwriting Discipline
2016 14
Category Average Cost per Claim
Approved $11,096
Referral 1 $10,638
Referral 2 $16,016
Excluded $19,122