Underwriting Practices of Voluntary Carriers

Cost: $3,000; published 2015

Providing a high level of service excellence for all customers is something voluntary insurers must continue to deliver and improve. Underwriting in particular is an area of service to which many brokers/producers as well as employers pay close attention.

The 2015 Underwriting Practices of Voluntary Carriers Spotlight™ Report provides data companies can use to compare their underwriting practices with those of other key voluntary carriers in order to help ensure their competitiveness in the marketplace. [Note: Product specific underwriting guidelines are not the focus of this study.] Specifically, the report looks at:

  • Group-level underwriting practices
  • Advance approval process
  • Minimum requirements (case size, eligibility, participation)
  • Medical underwriting guidelines
  • Renewal underwriting guidelines
  • Rate increases
  • Underwriting time frames and standards

The report also examines several underwriting trends including changes to participation, guaranteed issue and case size requirements.


View Table of Contents

1. Executive Summary

A. Report Objectives

B. Key Findings

C. Methodology

2. Findings

A. Carrier Data

1. Platform

2. Other Lines of Business

3. Structure and Organization of Underwriting

4. Percent of Sales from Voluntary

B. Voluntary Underwriting Trends

1. Changes over Past 1-2 Years

2. Participation Requirement Changes

3. Guaranteed Issue Amount Changes

4. Case Size and Guaranteed Issue Changes

C. Underwriting Practices

1. Group-Level Underwriting

2. Minimum Case Size Accepted

3. Size for Requiring Claims Data

4. Type of Underwriting

5. Advance Approvals

6. Account Setup Unit

7. Rep Concessions

8. Employee Eligibility Guidelines

9. Underwriting Over Guaranteed Issue Amounts

10. Medical Underwriting Percentages

11. Underwriting Checks

12. Participation Requirements for GI

13. Combined Participation Requirements

14. Waiving Participation Requirements

15. Differences in GI

16. Action When GI Participation Not Met

17. Impact of GI on Claims

18. Action if Missing Information

19. Renewal Underwriting

20. Rate Increases

D. Time Frames and Standards 


2. Requests for Proposal (RFP)

3. Approval Time Frames

4. Policy/Certificate Issue

5. Pending Applications


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