Hays will provide actuarial services to Corcoran Jennison that will ensure optimal plan design, networks, and funding, and budget arrangements. Our Underwriting team led by Dave Ross uses a variety of tools to actuarial analyze renewal/funding calculations and to validate and challenge insured renewals. By thoroughly reviewing renewal calculations in this manner we ensure the most appropriate underwriting criteria and guidelines are used. Our renewal validation process will provide concrete support for any argument we use with a given insurance company in negotiating your renewal. Hays’ Underwriting unit leverages our knowledge of insurer practices in an applied manner that situates our clients in the position likeliest to achieve the best …show more content…
This methodology allows us to stay on top of all financial situations to insure that Corcoran Jennison is aware of the projected funding balances or projected premium adjustments at the end of the year. By taking this active monthly role, we can very easily and effectively move into the rating of the plans. Whatever the issue may be, corrective actions can be discussed and an action plan can be devised. Our underwriting unit then moves into the renewal phase where they give Corcoran Jennison their first review of the renewal rate action. Along with benefit modeling capabilities, Corcoran Jennison will have a clear and concise vision of the appropriate steps needed to keep the plan healthy and robust. We have provided samples of our reporting capabilities including contribution modeling, IBNR calculations, budget projections, and monthly reports for Corcoran Jennison 's review. These documents are titled "Hays Companies - Reporting