
Latest Blog Post
Growth Mindset
Over the past two years, we have grown our Stop Loss premium by about 30 percent. After our July 1, 2022, effective date policies went in force, we exceeded $1 billion in annualized Stop Loss premium – a milestone we’d not previously achieved. From my perspective, it never makes sense to grow for the sake of growth, but we do it thoughtfully – by building on our strengths and adding value for the brokers and employer groups we serve.
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The Year in Review
2021 was a great year for HM Insurance Group (HM). Despite the continued effects of the pandemic, our team has continued to thrive and work to provide great service to our broker partners and TPAs as well as our shared clients. We saw the difference 12 months makes.
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Embracing eServices Makes It Easier to Do Business with HM
Technology has created an expectation for instant information and immediate responses, but insurance intricacies require thoroughness in communication, appropriate detail and mindfulness of the highly regulated information-sharing guidances set by regulators. Striking the right balance between the demands of both of these can be a challenge, but we’re working to deliver easily accessible, essential information to our clients in a secure environment with our eServices platform, making it easier to do business with us.
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Predicting the Unpredictable
The element of surprise. Facing the unknown. Making predictions. That’s what comes to mind when students interested in the actuarial profession ask me why I have enjoyed this career for the past 22 years. There are always problems to solve, but on any given day, I can never fully predict exactly what will come my way. Every morning, I start with my short list, but something unanticipated is usually on the horizon, case in point, the Coronavirus.
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Innovating for Next-Level Stop Loss Claims Processing
You can probably imagine that working with more than 100 third party administrators (TPAs) means that HM Insurance Group (HM) receives tens of thousands of claim detail files every year. It’s a lot of data to manage. Files come into a secure, designated Stop Loss claims email box or via an FTP site. They are then saved to a corporate drive so our Claims team can format the TPAs’ Excel files into a format acceptable for loading into our claims system. The entire process takes a lot of manual work.
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