Worksite
Personal Injury Accident Products
Much of the demand for accident
insurance stems from the rising costs of health care and the
shift from employer-paid benefits. Perhaps that’s why today’s employers are more interested
in products that help cover deductibles and out-of-pocket care
expenses than they were in the past—products like voluntary
accident insurance. The heightened concerns about safety and
security in today’s turbulent times have also given rise
to the demand for simple, affordable accident insurance.
Eastbridge Consulting Group’s latest report, Worksite
Personal Injury Accident Products, looks at the current
state of the voluntary accident insurance market. The report
then takes a close look at the voluntary accident products
of nine carriers, including:
- Product feature (platform, benefits, exclusions, etc.)
- Underwriting/eligibility parameters
- Cost structure
- Commissions
[Note: In order to protect the confidentiality of the carriers
profiled, all data is reported anonymously by assigning each
carrier a random number.]
Order Info: The
report is available for purchase for just $2,000. 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. Key Findings
C. Methodology
2. Market Overview
A. The Need
B. Carrier Perspective
1. Top Competitors
2. Accident Sales
3. Penetration
4. Demographics
5. Average Premium
6. Persistency/Lapse Rates
7. Anticipated Product
Changes
8. Concerns about Product
3. Carrier Product Details
A. Product Structure
1. Platform
2. On- and Off-the-Job Benefits
3. Emergency Benefits
4. Specified Injury Benefits
5. Surgical Benefits
6. Hospital Benefits
7. Additional Care Benefits
8. Other Benefits
9. Disability Benefits
10. Other Features, Benefits,
or Services
11. Optional Riders
12. Differentiating Factors
13. Elimination/Waiting
Periods
14. Pre-Existing Conditions Exclusion
15. Family
Coverage
16. Benefit Reductions
17. Renewability and Portability
B. Rates
1. Premium Structure
2. Rate Comparisons
C. Underwriting
1. Target Account Size
2. Minimum Case Size
3. Prohibited Industries
4. Employee Eligibility
Guidelines
5. Underwriting Questions
6. Participation Requirements
D. Distribution
1. Enrollment Method
2. Commissions
E. Miscellaneous
1. Coverage Effective Date
2. Policy Issue Date
3. Standalone vs. Packaging
4. Claims Payment Process
5. Claims Submission Process
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