CHALLENGE

Historical Claims Do Not Tell The Full Story

Verescence is the world leader in glass bottle manufacturing with over 600 insured members. The reinsurance carrier initially quoted a Stop-Loss policy increase of 9% with the maximum claims aggregate exposure of 28% due to rising high-cost claims.

 

SOLUTION

Focus on Tomorrow’s Risk

NavMD’s risk dashboard was able to isolate exposure to provide the underwriter more accurate information on the high-cost claimants. The filters allowed them to exclude members no longer active on the Verescence health plan then communicate it back to the underwriter to reevaluate the risk. Also, the predictive risk projections assigned to each member identified lower risk projected for some of the members in the coming 12 to 18 months of projected risk due to acute conditions. These conditions were historically costly but had no future expected occurrence of additional high-cost claims.

RESULT

Higher Profits for the Company

By virtue of providing a more accurate analysis of the risk associated with high-cost claimants, the underwriter at the reinsurance carrier modified the premium to reflect future risk. Verescence was able to lower the aggregate claims exposure to +16% and add $300,000 to their bottom-line in stop-loss policy reduction in premium.

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Hundreds of Thousands of Dollars Saved on Stop-Loss Premium 

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