Underwriting Systems Receiving Greater Priority in Insurance Industry Investment Strategies

Ranka Vukosavljevic

Much has been written in the press recently about the state of our industry and the challenges it faces. Over the next three years, most underwriters – including BCS – are investing in process automation where major investments have already been made in upgrading our underwriting system. Better analytic tools and more automated systems are the primary drivers of these investments in underwriting technology. Today, investing in automation, predictive modeling, data verification, and collaboration tools is the new norm. Powerful enhancements connect everyone involved in the process including underwriting, contracts, premium collections, claim payments, and reinsurance premium payments. Multiple years of historical data were imported into the new system and allow us to run detailed reports more quickly and efficiently.

The system was designed with the following goals in mind: 

  • Clear goals and metrics
  • Innovative process and ideas
  • Information at underwriter’s fingertips
  • Modern operating model
  • Greater management insight
All of these enhancements ensure an improved customer-centric experience for our clients today and tomorrow.
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Small Group Stop Loss Debate Continues

Ranka Vukosavljevic

The debate over stop loss insurance for small group continues its slow burn through the states as they deal with the approach of 2014 and the new world of health exchanges. This article is interesting for its mention of pending California legislation, SB 161, designed to discourage small group employers from medical self-insurance. SB 161 would set the minimum individual attachment point at $65,000. This could be out of reach for many small group employers. This concern is not only being voiced at the state level; the U.S. Department of Health and Human Services last month issued a proposed rule barring entities with relationships to issuers of stop loss insurance, including those who are compensated directly or indirectly by stop loss insurance issuers, from serving as exchange navigators. The attached article includes links to both an analysis of SB 161 and the proposed rule from the U.S. Department of Health and Human Services.

California measure that would deter self-insurance of medical risk by small employers advances | Health Insurance Crisis

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A Wide Array of Stop Loss Contract Terms

Ranka Vukosavljevic

BCS Insurance writes a wide array of stop loss accumulation periods.This chart is a simple-to-use tool to understand what type of coverage each accumulation period provides. This chart also is a good reference to check if a stop loss client is considering switching from one accumulation period to another.


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