Underwriting & Insurance Analytics
Transforming Data Into Decision-Making Tools
USI’s Underwriting and Analytics team scrutinizes employee benefits plan data to ensure programs are innovative, measured and aggressively priced. Our team deconstructs employer claims spend into outlying cost drivers that fuel increases, and offers actionable solutions to optimize plan features and reduce expenses. Our risk management techniques drive improved outcomes by evaluating healthcare claims and financial data for trends and anomalies; Seeking to eliminate or mitigate risk using sophisticated tools and resources; Designing programs to focus on cost drivers; Advising on strategies to retain risk through self-insurance and partial self-funding; and Transferring risk through insurance at the most aggressive and sustainable levels.
USI underwriters are continually developing and negotiating unique and proprietary programs such as our stop loss consortium, calculators relative to the pay or play and Cadillac tax exposure, actuarial relative value calculations and more. Our premier employee benefit broker status provides both significant experience and leverage for our underwriting and analytical teams to effectively negotiate with the carrier market.
USI’s Underwriting & Analytics capabilities include:
- 85+ In-house Financial Analysts and Underwriters Nationwide
- Renewal Projections & Funding Analysis
- Claims Cost and Risk Assessment
- Trend Mitigation
- Contract Review
- Benchmarking and Market Review
- Predictive Modeling
- Ancillary Analysis
- Disruption Assessment
- International Exposure Analysis
- Reporting
- Long Term Strategic Planning
USI’s Underwriting & Analytics solutions integrate superior assessment, analysis and benchmarking with expert market negotiation to identify and increase transparency around plan expenses so they can be better managed across client benefit portfolios.
To analyze our clients' business issues and challenges, our benefits team leverages USI ONE®, a fundamentally different approach to employee benefits and risk management. USI ONE integrates proprietary business analytics with a network of local and national technical experts in a team based consultative planning process to evaluate the client’s risk profile and identify targeted solutions. Clients then receive tailored recommendations for improving their employee benefits plans.
Experience the USI ONE Advantage® and learn how our Underwriting & Analytics solutions identify and increase transparency around insurers’ profit sources to deliver a customized well designed benefit plan at a highly competitive price. Email EBsolutions@usi.com or contact your local USI office today.
CASE STUDY:
A 470 employee Technology Company was facing an unmanageable 24% renewal increase after only one year with the carrier. USI’s underwriting and analytics team had a full reporting portfolio established which enabled the team to review and assimilate all available data from the prior and current carriers— seamlessly integrating prior and incumbent carriers’ claims data into a rolling 12 month analysis. An exhaustive review of claimants’ diagnosis and procedure codes revealed eight large claimants from the prior carrier whose conditions had improved dramatically. Further analysis review showed a dramatic decline in pharmacy claims due to removal of a high priced drug from incumbent carrier’s experience. USI established a renewal projection increase of only 9.2% based on a complete 12 months of claims, maximum large claim credits and an aggressive position relative to carrier retention. With USI’s knowledge of the client, our supporting data analysis and aggressive position, the carrier ultimately provided a revised renewal at an 11.4% increase—saving the client over $776,000 in renewal premium.
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