Doing Our Job
I’m often caught off guard when someone thanks me for getting back to them. It feels odd being acknowledged for doing my job. With all the technology we have at our fingertips, I have to wonder how anyone survives in this business without being responsive, since that quality is so important to sustaining relationships.
I suppose, in the day-to-day, some may forget common courtesies as they focus on checking off to-dos. But those gestures that demonstrate you truly care are what help you stand out, and I don’t ever want to lose sight of them. I want to do right by my partners and clients.
Throughout the year, we receive RFIs that ask us to define the traits that differentiate HM Insurance Group (HM) from our competitors in the market. In the reinsurance world, Stop Loss often is treated as a commodity, so some carriers would immediately say price. Others might say company size and breadth.
For us, it’s knowing the nuances of our clients’ situations and understanding the intricacies of their needs. It’s being the opposite of transactional. Here are a few things we’re committed to doing differently at HM.
Being Accessible & Building Relationships
The accessibility and responsiveness of the HM team, including senior leadership, not only makes it easier for our producers to get answers, receive approvals and have actions completed, it also creates the connections that give our partners confidence in our ability to provide the best to our mutual clients.
Recently, a broker contacted us regarding a group with potential transplants. We set up a call between the broker, the TPA, the case management company and our team to discuss the coordination and approval of care. Following the call, our Cost Containment area received the needed details on the potential transplants, and that afternoon we provided the case-specific contracts for each of the individuals. When the lines of communication are open, and everyone is on the same page, so much can be accomplished – quickly.
Paying Claims
The best way to show our commitment is simply, actually paying claims. After all, that’s what we’re here to do. We guard financial health by protecting the bottom line of self-funded clients who are facing catastrophic claims. Quick payment is a necessity. If we can do that without the hassle and long timeframes that other carriers often provide, we’re delivering trust in addition to payment, and that goes a very long way.
Over the holidays, we were contacted by a broker regarding a group with a large claim. For financial reasons, the group needed resolution of that claim before the close of their fiscal year. Because of the size of the reimbursement, it required multi-level sign-off. We worked with our Claims team to expedite approval and processing and wired funds prior to the end of the year. On New Year’s Day, we sent the Explanation of Reimbursement (EOR) over to the broker confirming payment. When our job is guarding financial health, timing is incredibly important, and it’s our priority to deliver results in this way.
Being Stop Loss Experts
Our delivery of coverage answers, protection solutions and timely claims payment is made possible because we are Stop Loss product specialists. It’s what we do. It’s our primary focus. As problem-solvers, we’re here to help, and we know this business inside and out, and we’re all here to meet our clients’ needs.
Proper risk assessment on the front-end makes doing business with us easier on the back-end. Years of experience and a wealth of data help as well. We have the ability to quickly address claims, billing and coverage issues because the entire team is prepared with the knowledge they need and empowered to make decisions.
We see ourselves as extension of our producers. We don’t take this lightly. If all of us are committed to building relationships, appropriately assessing risk, delivering smart solutions, providing responsive service and getting claims paid – we are going to write and retain the right business, which creates a win-win situation. But really, isn’t that just doing our job?