Worksite
Operational Excellence 2005
Today, worksite
insurers must deliver the operational and administrative performance
their producers and other customers expect. Yet, at the same
time, they need to reduce costs to keep their prices competitive—not
an easy task!
The Worksite Operational Excellence 2005 study
is designed to help carriers achieve operational excellence
in the areas of enrollment, underwriting, policy issue, policyowner
service, and producer support. Specifically, the report helps
carriers learn:
- How their company’s operational/administrative
practices stack up against the competition
- Administrative requirements their competitors
are imposing on brokers
- Cutting edge technologies being used
to improve policyowner and producer service
- Best practices for controlling administrative
and service costs
- Ways to use the Internet to convert operations
into a competitive advantage
Order Info: The
report is available for purchase for $4,000. To order your copy,
simply email us at info@eastbridge.com or
call (860) 676-9633. Published 2005.
Table of Contents
1. Executive Summary
A. Report Objectives
B. Participants
C. Key Findings
D. Recommendations
E. Methodology
2. Detailed Findings
A. General Data
1. Voluntary Products
2. Worksite Sales/Inforce
Premium as Percent of Total
3. Separate Worksite Administration/Operations
Area
4. Organization of Administrative Functions
5. Administrative
Platform/Systems
B. Underwriting Practices
1. New Account Submission Guidelines
2. Turnaround
Times for Case Approvals/Quotes
3. New Account Set-up
4. Collection of Initial Premiums
5. MIB Requirements
6. Underwriting Concessions
7. Coverage Effective
Date/Interim Coverage
8. Spouse Signature Requirement
9. Missing Information/Pending
Application Practices
10. Coverage for Domestic Partners
11. Participation
Requirements
12. Renewal Process
C. Enrollment
1. Enrollment Methods and Support
2. Bilingual Enrollment
Support
3. Paper vs. Electronic Applications
4. Electronic
Enrollment Tools
5. Electronic Signatures, Voice Prints, PINs
6.
Personalized Enrollment Kits
7. Process for Handling Waivers
D. Policy Issue
1. Policy Forms
2. Policy Delivery
3. Time Standards for Policy
Issue
4. Percentage of Business “Not
Taken”
5.
Coverage Increases/Decreases
E. Billing Services/Processes
1. Billing Options
2. Requirements for Self-Administered
Billing
3. Billing/Payroll Cycles
4. Informing Employer
of Payroll Deductions
5. Action Taken When Initial Deduction Delayed
6.
Process for Handling Premium Discrepancies
7. Process for Handling
Changes to Invoice
8. Single Billing/Consolidated Billing
9. Third-Party
Billing
10. Informing Employer/Employees of Billing Changes
11.
Process for Handling Lapses
12. Billing Account Managers/Client
Managers
F. Policyowner Services
1. Voluntary/Worksite Service Area
2. On-line Capabilities
for Plan Administrators
3. On-line Capabilities for Employees
4. Call Center
5. Phone Requests for Policy Loans/Surrenders
6.
Claims Filing Process
7. Bilingual Policyowner Services
G. Producer Services and Support
1. Producer Support Services
2. Producer Support
via the Internet
3. Producer Advances
4. Graded Commissions
5. Frequency/Type of Commission
Payments
6. Process for Handling Agent Loans
|
