Guarding the financial health of policyholders
HM Insurance Group sees the catastrophic the high-dollar claims that can change the lives of individuals and threaten the financial stability of their employers. As the frequency and severity of claims rise (more and more exceeding $1 million), the financial exposure of self-funded groups increases as well. HM Insurance Group knows that its Stop Loss customers employers who self-fund their health benefits plans need to know that their bottom line is protected. They want high-dollar claims to be paid quickly and accurately so that they can focus on their business. Executing smart practices and remarkable performance is essential to HM Insurance Group's ability to guard the financial health of its clients.
That starts at the very beginning. HM Insurance Group has teams across the nation with regional knowledge and market expertise who watch the trends and know the stakes. When writing a policy, they know that a solid contract provides better protection for clients and is the foundation for mutual obligations. The HM Insurance Group contract is designed to provide clarity, financial protection and choice. With nearly 35 years in the market, the company has the insight to write coverage that truly protects policyholders when they experience losses that exceed deductible levels.
Strong operational performance is essential when managing the unpredictable. Faster claim reimbursement impacts the policyholder's overall financials, and HM Insurance Group's claims management processes drive quick payment without sacrificing accuracy. At greater than 99%, both its technical and financial accuracy exceed industry standards. And 99.99% of clean claims are processed within 10 business days.
Finally, HM Insurance Group's stable financial foundation enables the company to pay claims and meet its product guarantees. To safeguard financial commitments to its policyholders, HM Insurance Group has reserves and capital that exceed the levels required by regulators.
Throughout the entire cycle of business, HM Insurance Group creates a remarkable experience for policyholders so that they can have confidence that their HM Stop Loss coverage is guarding their financial health.
That commitment goes straight to the top of the company. As one customer explained in a survey after HM Insurance Group's National Sales Conference: "HM's senior leaders are always available when you want to share ideas that relate to our mutual clients' financial security and success."
Narrator: A $3 million claim can be financially disastrous to a self-funded company.
Tom Doran, president, HM Insurance Group: We see the catastrophic — the claims that can change the lives of individuals and threaten the financial stability of their employers. It’s not something that we take lightly.
Mark Lawrence, senior vice president, underwriting: The frequency and severity of claims is on the rise. And we know that employers want to know that their bottom line is protected.
Narrator: With the rising claims trend, stop loss insurance cannot be viewed as a commodity.
Carolyn Coleman, regional sales vice president: It's essential to work with a stop loss carrier that truly knows your market. We have dedicated sales teams across the country with regional knowledge and expertise to help ensure that the right coverage is in place.
Dom Palmieri, chief operating officer: All stop loss coverage is not the same. We underwrite to pay claims, not to dispute them.
Narrator: Employers need a carrier that pays claims quickly and accurately.
Greg Wilden, senior vice president, sales: Our stop loss policy is very clear and easy to understand. It matches the underlying plan and has limited exclusions. This means that we pay claims.
Caleb Knier, chief financial officer: Financially strong and stable, we work to deliver the protection you can count on.
Narrator: Financial protection should be important to everyone involved — the broker, the policyholder and the carrier.
Mark Lawrence, senior vice president, underwriting: A thoughtful underwriting approach balances risk and reward for all parties.
Cathy Safran, director of reinsurance, contracts and SIU: The value of working with the right stop loss carrier extends far beyond the cost of coverage.
Tom Doran, president, HM Insurance Group: When you choose to work with HM Insurance Group, you can count on integrity in every transaction. We provide the coverage that helps to guard the financial health of our policyholders.