Wednesday, February 13, 2019
By Greg Wilden
Large carriers often offer Stop Loss insurance among their many lines of business; it’s one more product to sell if requested by a customer. Our approach is a little different. Stop Loss is what we do – and our focus is on developing strong relationships as we work to deliver the right solutions for the client at hand. Stop Loss is not a commodity, but an integral part of the financing of our policyholders’ health plans.
Our roots may be in a mid-Atlantic Blue footprint, but our coverage protects clients in all 50 states. To manage the expanse, we have Stop Loss offices in 20 locations across the country. With boots on the ground in so many major markets, we have an opportunity to see our product in action in an assortment of scenarios, allowing a great view of the industry as a whole.No territory is the same. Some regions are TPA-centered. Others have a large Blue presence. There are those introducing reference-based pricing as a cost-saving measure and others just starting to understand the importance of Stop Loss protection, *See disclaimer below, for groups that self-fund. It’s our job, as a national carrier, to know the needs of each market and provide coverage for a range of situations.
Our knowledge is gained through multiple relationships. National partnerships and long-standing connections with regional brokers, national consulting firms, national carriers and Blue plans provide important and unique insight that helps to shape the way we approach our business as a whole. There’s a lot to consider – and a lot we can deliver.
We are diligent in our efforts to provide the right programs and plans for the customers and markets we serve. Our focus during each interaction is the specific type of business. It takes nimbleness, of course, but the regional expertise of our Sales and Underwriting teams provides the agility necessary. The commitment to our customers is the same regardless of location, business approach or product variation, none of which take away from the others. Above all else, each client can have confidence that we honor our contract (PDF) – a contract that is viewed as one of the top in the industry.
Delivering reinsurance solutions to a variety of regions, plans and funding approaches only furthers our ability to truly guard financial health. We have access to a lot of information when developing coverage solutions, which is especially critical now, as the market continues to face increases in the frequency and severity of claims.
But given our unique place in the industry, there have been some questions raised about our business model. Here are some things to keep in mind:
HM Insurance Group does not own its own network; instead, we evaluate networks in the regions where we do business and determine the best options for our clients in those areas.
HM Insurance Group is a stand-alone company; we are a separate entity and serve clients nationwide.
HM Insurance Group values individual relationships with a variety of organizations; diversity in our business partnerships and in the options we offer to clients regionally provides an excellent lens for making future decisions and honing smart practices that meet needs appropriately.
Our commitment – across the board – is to guard financial health. We can do so when we make the right connections – with people, trends and business processes (whomever and wherever they may be). Developing great relationships leads to better understanding and quality data that can aid in evaluating cases, networks and more as we work to protect customers against the financial impact of unpredicted, catastrophic claims.
A strong, experienced carrier, HM responds to market changes and works with clients to ensure their coverage needs are met through expert risk assessment and exceptional delivery of benefits.