Actuarial and Underwriting
Time is money. Imagine being able to quickly react to changing market factors.
Save time with flexibility and on the fly control
Imagine your health plan actuaries testing factors and formulas on real cases before they are put into production. Your actuarial team will be in complete control with the ability to make changes on the fly with a flexible Pricing Tool.
Your actuarial factors, business formulas, and pricing and product data will be brought together to produce rates for your health plan.
Your plan can have the ability to provide new product quotes quickly and easily.
Empower your sales team to produce tailored actuarially certified benefits in real time.
A Comprehensive Solution
The Actuarial Rating Tool combines the seamless integration of risk assessment, pricing, and field quoting capabilities.
The Risk Assessment Tool allows your underwriting team to access current and historical claims data and membership information to asses the risk of covering particular populations. The risk is quantified to project costs.
The Pricing Tool puts your team in control of pricing strategy. Your actuarial team can quickly respond to market changes in just a few easy steps. New factors and formulas can be tested and implemented without the need for additional technology intervention.
The Field Quoting Tool empowers your sales team to produce optimal quotes for prospective and renewal clients. The user-friendly interface enable your sales team to produce alternative price quotes with customized benefits in real time.
Expect concrete outcomes
How will your health plan become more efficient?
- Cutting-edge capabilities
- Quicker response to market changes
- User-maintained technology allows actuarial staff to add new products to Field Quoting Tool
- Actuarial staff independent from IT release schedule
- Sales staff field quoting
- Independence from IT to use your plan's rates, factors, and formulas
In addition to having access to great tools, you become part of a community of like-minded companies facing similar challenges that work together to develop a long-range solution.
- Application maintenance and enhancements
- Incident and problem management
- Future upgrades to tools for vision and dental
Other available services:
- Actuarial consulting services
- Margin-enhancing techniques
- Segment management
- Pricing optimization consulting
- Integration with upstream and downstream applications