Underwriting and Pricing

IR&AS’ underwriting approach is to identify which particular risks would be desirable to you, taking into consideration any legal requirements, your general philosophy and your underwriting guidelines; then, to responsibly underwrite those risks.

Experienced underwriters evaluate the characteristics of each account to make certain that the risk meets your underwriting standards and complies with any statutory requirements. Generally, determining a group’s acceptability includes consideration of the following group characteristics: industry; size and composition of the group; employee plan participation levels; and insurer/administrator persistency. Further risk review includes assessment of: desired coverage; previous experience and current claim activity; benefit plans; provider networks; and expenses. Our objective is to select risks whose characteristics, plan design, and supporting data meet your established standards as quality risks.

Qualified groups are priced using your rating model, assumptions and guidelines. Underwriting also includes necessary revisions resulting from plan modifications, updates to claim information and disclosure evaluation. Our underwriters will follow-up to ascertain the competitive position and viability of the quote, and make adjustments, if appropriate. Our goal is to prepare quality, competitive proposals and write business that is in line with your financial goals.