From design through implementation – superior structure leads to timely implementation
While the pressure for rate increases is growing, many insurers fail to realize the maximum benefit of rating actions, because they don’t identify the full-range of opportunities or know the best practices for rate increase design, filing approval and implementation. That’s why results for insurers filing similar rate increase requests can vary significantly. TriPlus emphasizes a greater focus on policyholder options and administrative servicing, especially in instances of benefit reconfigurations, which help mitigate higher premiums for the policyholders.
TriPlus helps assure the best outcome of rating actions by coordinating all necessary activities and resources, from design and justification to policyholder communication. The specific services in our comprehensive and collaborative process include:
- Actuarial justification
- Rate increase structure and design
- State filing and negotiations
- Customized policyholder communication
- Call center specialization
- Policy modification counseling
- Thorough documentation of policyholder actions
The keys to our approach:
- Proven Track Record: Our knowledgeable team has a successful track record with the design, filing, approval, and policyholder servicing of rate increases – leading to exceptional financial performance for our clients.
- Regulatory Knowledge: We have a deep understanding of the local landscape for various jurisdictions concerning regulations, policies, and procedures, and we understand regulators’ preferences.
- Integrated Technology and Quality Data: Our scalable and customizable platform integrates voice, image, and data – meaning higher quality information and experience data is available for regulators and clients; and their policyholders have a smoother and faster path to implementation.